Preparation for VAT 2016 is a course that covers topics such as:
- What is Output and Input VAT?
- The mechanics of VAT calculations and VAT accounting
- Exempt goods and services, and the implications of being an exempt business
- The applicable rates of VAT (standard, zero) and which goods and services are taxable
- 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
- Partial exemption rules for businesses making both taxable and exempt supplies
- Resource requirements: human, technical and professional
- The commercial implications of VAT on businesses
- How and when to account for VAT
- VAT registration
- Generating and maintaining VAT documentation
- The practicalities of recording VAT within an accounting system
- Submission of VAT returns
Preparation for VAT 2016 brings together professionals working in accounts or finance.