Preparation for VAT 2016

Topics

• 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

Who should Attend

Professionals working in accounts or finance.