Preparation 2016 - Preparation for VAT

An agreement on a common VAT framework to be implemented across the GCC states is expected on 1 Jan 2018. In anticipation of the issuance of the final legislation, our ‘Preparation for VAT’ Series will help you begin to prepare for this change. The Program designed to cover the principles of VAT, and its impact on individuals and businesses in the GCC.
This program demonstrates how VAT works and who is likely to be affected by its implementation throughout the GCC. Participants will understand the mechanics of VAT calculations, and will gain an understanding of who should register for VAT, the goods and services VAT is likely to be taxable and the VAT treatment applicable to different types of supplies.
Attending this course will be a valuable opportunity to capitalize on the trainer’s well rounded experience and in-depth knowledge. By the end of this course, participants will have a greater understanding of:
The mechanics of VAT calculations and VAT accounting
What is Output and Input VAT?
The applicable rates of VAT (standard, zero) and which goods and services are taxable
Exempt goods and services, and the implications of being an exempt business
Partial exemption rules for businesses making both taxable and exempt supplies
VAT treatment of import and export, acquisitions of services from non-residents, intra-GCC supplies, and the determination of the “place of supply” of goods and services
The commercial implications of VAT on businesses
Resource requirements: human, technical and professional
This course will also cover the administration of VAT and compliance issues with regards to:
VAT registration
How and when to account for VAT
The practicalities of recording VAT within an accounting system
Generating and maintaining VAT documentation
Submission of VAT returns
For additional details contact us at +971 4 515 7200 or trainedbypwc-AT-ae.pwc.com