VAT has been implemented in the GCC. Around 95% of the consumer goods and services will attract tax which poses a big challenge to business enterprises as they need to prepare themselves for upcoming challenges.
With the levy of the tax, the business models of many organizations will also be challenged which creates an immediate need to work on strategic, operational and tactical planning to combat challenges successfully.
A critical success factor for the VAT implementation will be upskilling yourself and your workforce with the right knowledge and skill-set in the coming months.
With this in mind, Strategic Axis Academy has designed a suite of the fit-for-purpose training modules that cover the fundamentals of the new tax legislation, and it’s impact on the market and the technical and financial understanding required to manage this change.
Please note that each module could be taken as separate short 1-day course
Our VAT courses provide a comprehensive understanding of the VAT system, covering the fundamental principles of the VAT, regulation and administration, and guidance on the interpretation and consistent application of the GCC VAT legislation.
Our global network of expert tax professionals bring their knowledge and practical experience, gained from working within leading organizations, including many in jurisdictions with established VAT systems, into the classroom to give an insight into the commercial and practical realities of working with VAT. These courses equip you and your workforce with the knowledge, skills, and confidence to work with VAT.
Our diverse range of short courses has been carefully designed to address business requirements at all levels; executive, managerial and operational. They are suitable for corporate and government sectors and can be customised for in-house training requirements. We also offer the GCC VAT Compliance Diploma, the first and only accredited VAT certification in the GCC.
Participants who fully attend this course and complete the test on the last day will receive a Strategic Axis Professional Certificate (SAPC). SAPC certificates are regionally recognized and can be quite valuable when applying for more senior roles within the organization or outside.
Additionally, Participants could be awarded KHDA Certificate – Knowledge and Human Development Authority.
An overview of the broader government strategy and objectives with regards to the VAT system
The taxable person
What is a taxable supply, and how to establish the taxable value of a supply
Output and input VAT
Place and time of supply
Compliance and regulatory requirements
The commercial impact of VAT on your business and how the introduction of VAT will impact:
Other business considerations
VAT in the accounting system
What is a VAT invoice, and when is a VAT invoice required
Who is responsible for raising VAT invoices
What are the accounting entries to record VAT
Policies, procedures, controls, and authorizations, to improve the accuracy of accounting for VAT
Preparing the VAT return from the accounting records
Supporting reconciliations and documentation for the return
What VAT records must be maintained
Who is liable to pay VAT
When must VAT be charged
The applicable rate of VAT (standard, zero-rating, exempt item sand transactions out of the scope of VAT)
Nonstandard operations, when and how must VAT be accounted for in the cases of
What is a VAT invoice
What records and documentation should be maintained, and for how long
Calculating output VAT for inclusion in the VAT return
What is a VAT invoice
What is input VAT
When and by whom can input VAT be deducted
How much VAT can be deducted
What input VAT is not deductible
What evidence or documentation is required to deduct input VAT, and how long should these records be maintained
Calculating input VAT for inclusion in the VAT return
Partial exemption: when should an organization apply proportional deduction, and how does it work
What is a VAT Return
What information is include on the VAT return
What is the due date for payment and filing of a VAT return
How does a business make a payment to the authorities
What are the documents to be submitted with a VAT Return
What are the provisions for small business
How is VAT calculated for companies with mixed zero-rated, standard-rated sales
What are the implications of non-payment/late payment of VAT
The meaning of International Trade
How to determine the place of supply
The reverse charge mechanism
Trading within and outside a free zone
The interaction of customs duties and VAT
Documentation requirements concerning cross-border transaction
Can input VAT on imports and acquisitions from GCC countries be reclaimed
Pre and post-registration provisions
Exemption from Registration
Reporting economic activity, and the requirement to register for VAT
Maintenance of records and key VAT documentation
Submission of VAT returns, and payment of VAT
Provision of information to regulators
Deduct input VAT (and adjustments of VAT deducted)
Refunds, settlements and bad debts
Appeals and assessments
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