(Click Category to List Courses)
4 - AAU - Accounting and Financial Auditing
AAU 141 - Preparing for Value Added Tax (VAT) in the GCC
| Code | Start Date | Duration | Venue | |
|---|---|---|---|---|
| AAU 141 | 15 April 2024 | 5 Days | Istanbul | Registration Form Link |
| AAU 141 | 13 May 2024 | 5 Days | Istanbul | Registration Form Link |
| AAU 141 | 24 June 2024 | 5 Days | Istanbul | Registration Form Link |
| AAU 141 | 22 July 2024 | 5 Days | Istanbul | Registration Form Link |
| AAU 141 | 26 August 2024 | 5 Days | Istanbul | Registration Form Link |
| AAU 141 | 30 September 2024 | 5 Days | Istanbul | Registration Form Link |
| AAU 141 | 04 November 2024 | 5 Days | Istanbul | Registration Form Link |
| AAU 141 | 09 December 2024 | 5 Days | Istanbul | Registration Form Link |
Please contact us for fees
Course Description
The Gulf States are now in the process of implementing a unified agreement on Value Added Tax (VAT). Now, for the first time, companies in the GCC will have to collect VAT. This will apply to every stage of the supply chain, from raw materials to the final product sold in stores. This course will serve as a guide for participants on how to introduce VAT into their companies, and how to carry on with it correctly and accurately.
Course Objectives
- Introducing Value Added Tax (VAT)
- Preparing needed documents and resources for VAT
- Understanding the steps of calculating VAT
- Providing reports and statistics
- Examining some specific business fields considerations
Who Should Attend?
- Accounting professionals
- Budget holders
- Finance professionals
- Stakeholders
- Managers
- Anyone who needs to know about organizational finance
Course Details/Schedule
Day 1
- VAT Basics
- Introduction in the GCC
- Its impact on the economy
- How VAT affects GCC Companies & businesses
- How does VAT work?
- Different types of VAT supplies
- Amount of annual turnover necessitating VAT registration
- Standard rate (5%)
- Zero rate (0%)
- Exempt supplies
Day 2
- Compliance requirements under VAT
- Pre-requisites
- Registering process and preparation of required documents
- Calculating and reporting VAT Accounting methods concerning VAT
- Preparation of the invoices
Day 3
- Percentage of VAT
- VAT administration, fines and penalties related to VAT filing
- Industry-specific considerations
- Scoping, planning and lead
- Internal and external resorting
Day 4
- Technology and systems
- Out-source or in-source of VAT returns
- Ongoing compliance and review
- Managing the implementation project
- VAT and cash flow
- Customs and international trade
Day 5
- Specific industry considerations
- VAT Challenges
- VAT Mitigation Strategies
- Key lessons from a recent VAT implementation
- Common errors in VAT calculation
