Galaxy Computer Education & Training Institute providing VAT training will give an in-depth practical knowledge of the VAT legislation to get a clear understanding of the principles of VAT and its application, covering most aspects of VAT registration, VAT accounting & administration. The course 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 will give you a complete understanding of VAT, covering all the essentials and giving you the confidence to prepare deal with VAT correctly.

  • Understanding the concept of VAT
  • Understanding the Impact of VAT on UAE economy & businesses
  • Recognize the circumstances in which a Business must register for VAT
  • Recognize the circumstances when a person may register or deregister for VAT
  • Calculate the amount of VAT payable/recoverable.
  • Understand how VAT is accounted for and administered
  • Recognize the tax point when goods or services are supplied
  • Explain and apply the principles regarding the valuation of supplies
  • Recognize the principal of zero rated and exempt supplies
  • How to prepare VAT Invoice
  • Recognize the circumstances in which input VAT is non-deductible.
  • Recognize the relief that is available for impairment losses on trade debts.
  • Recognize the circumstances in which pre-registration input VAT can be recovered.
  • Understanding VAT implication on Imports & Exports
  • VAT Return filing & payment, common errors, Penalties
  • Training Outline / Agenda

    Course Duration is 6 Hours

    1. Introduction to VAT

  • Introduction and General Principles
  • Scope of VAT
  • Input & Output VAT
  • Supply of Goods & Services
  • VAT Legislation & Regulations
  • Impact on businesses and economy
  • Obligations and rights of taxpayers

  • 2. Types of Supply

  • Taxable Supply of Goods & Services
  • Standard rated supply
  • Zero rated Supply
  • Exempt Supply
  • Value of supplies

  • 3. VAT Registration

  • Mandatory Registration
  • Voluntary Registrant
  • De-registration
  • Advantages of VAT Registration
  • Effective Date of VAT Registration

  • 4. VAT Accounting

  • VAT calculation
  • Accounting for Input VAT
  • Accounting for Output VAT
  • Determining Tax Point
  • Irrecoverable Debt Claim
  • Interactive Examples to understand VAT Accounting

  • 5. VAT Administration

  • VAT Invoice
  • VAT Return
  • VAT Period (Filing Return for each VAT Period)
  • Tax Point & VAT Period

  • 6. VAT Penalties & Errors

  • Late Submission (Default)
  • Late Payment
  • Penalties on Errors
  • Default Interest

  • 7. Business Impact of VAT

  • Purpose of VAT implementation
  • VAT Impact on Businesses
  • VAT Impact on UAE Economy
  • GCC VAT Framework
  • Pricing & Margins
  • Cash flow Implications

  • 8. VAT Planning

  • Recording & Bookkeeping
  • IT & System Requirements
  • Supplier Management
  • Preparation & Training

  • 9. Advance Issues

  • VAT on Imports
  • VAT on Exports
  • VAT on Import & Exports with GCC
  • VAT Groups
  • Group Registration
  • Intercompany Transactions
  • YEARS OF EXPERIENCE

    OF HAPPY STUDENTS!

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