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4 - AAU - Accounting and Financial Auditing

AAU 142 - The GCC VAT Framework: Compliance, Implementation & Management

Code Start Date Duration Venue
AAU 142 13 November 2023 5 Days Istanbul Registration Form Link
AAU 142 04 December 2023 5 Days Istanbul Registration Form Link
Please contact us for fees


Course Description

The introduction of VAT in the Gulf Cooperation Council (GCC) member states marks the start of some of the most far-reaching changes in the region since the 1960s. The UAE, Saudi Arabia, Qatar, Bahrain, Kuwait, and Oman have all introduced VAT with effect from January 1, 2018, at a rate of 5%.

This specially-designed GCC VAT Framework training seminar examines the rules and regulations of VAT and clearly demonstrates the procedures and controls that should be in place to ensure VAT returns are submitted accurately and on time. This training course will give you a complete understanding of VAT, covering all the essentials topics and giving you the confidence to know if you are dealing with VAT correctly. It will also help you develop your plan to successfully implement and maintain compliant VAT processes in your company.

Course Objectives

  • Discover the obligations and implications of the new legislation for GCC-based businesses
  • Gain an overview of VAT’s introduction in the GCC
  • Understand the principals of VAT
  • Learn how to align finance processes and controls to ensure and maintain compliance
  • Develop a better understanding of how VAT applies through the supply chain
  • Know how to account for VAT
  • Understand how to avoid VAT becoming a cost to your business
  • Appreciate the impact of VAT across all your business units
  • Have a roadmap on how to prepare your business for VAT

Who Should Attend?

  • Accounting professionals
  • Budget holders
  • Finance professionals
  • Stakeholders 
  • Managers 
  • Anyone who needs to know about organizational finance 

Course Details/Schedule

Day 1

  • Introduction to VAT & Compliance 
  • 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

  • Risks of non-compliance
  • Understand the concept of VAT and its impact on the economy
  • Understand the VAT registration process and prepare required documents for VAT registration
  • VAT Implementation & its Effects on Business Processes 
  • Pre-requisites & Preparation for businesses before VAT implementation
  • Differentiate Accounting methods concerning VAT

Day 3

  • Calculate Input VAT and Output VAT
  • Categorize the supplies for VAT calculation
  • VAT Challenges “ Internal Vs External
  • VAT Mitigation Strategies
  • Cash Flow and VAT

Day 4

  •  VAT Management & Beyond 
  • Understand the impact of VAT on the operational and the financial performance of the business
  • Preparation of the invoices including VAT and returns
  • Understand VAT administration, fines and penalties related to VAT filing
  • Scoping, planning and lead 
  • Technology and systems
  • Understand the impact of VAT on the Imports and Exports to the member countries (GCC) and non-member countries (rest of the world).

Day 5

  • Out-source or in-source of VAT returns
  • Ongoing compliance and review
  • Customs and international trade
  • Industry-specific considerations
  • Identify common errors in VAT calculation