VAT Awareness and VAT Accounting

Objectives:

Emirates Center of Culture & Computer is glad to announce that they have trained key employees of 99 companies that include Directors, General Manager, Finance Managers, Accountant, Purchase, supply chain staff, Marketing and sales staff, Administration, bookkeeping and Audit firm staff and many more.

Note: Please request for a brochure to get all details of this workshop.

Details:

VAT in the GCC is on its way to implementation. So, the Majority of the consumer goods and services will attract VAT. This poses a big challenge to the organization as they need to prepare themselves for upcoming challenges.

With the levy of VAT, the business models of many organizations will also be challenged. This creates an immediate need to work on strategic, operational and tactical planning and process reviews to combat these challenges successfully.

This course is specifically designed for individual and organization to face this challenges based on changing the economic and commercial environment, supporting entities towards getting an insight of upcoming challenges, arising from the implementation of VAT, changes in their cash flows, profitability, sales and cost structures.

Overview:

This workshop is designed to guide the individuals about the changing commercial and economic environment in UAE post VAT implementation.

You will learn about UAE VAT framework, supply industry analysis, VAT Accounting and VAT Return Submission, addressing VAT challenges, VAT Registration and Compliance understanding, VAT strategies to respond VAT Challenges, VAT Implementation pre-requisites and much more.

Outline

VAT Awareness

- Direct & Indirect Tax

- Tax career in GCC

- VAT in UAE and its Impact

- VAT Framework

- Executive Regulations

- UAE VAT terminologies

- Taxable supply

- VAT Grouping

- VAT registration and documentation

- VAT on Import and Export in GCC & others

- VAT Penalties

- VAT calculations and common errors

- Much More

VAT Accounting

- VAT Invoicing

- VAT Return Submission

- VAT Accounting & Reporting

- FTA Audit preparation

- VAT Adjustment

- Record keeping

- Strategic Pricing and Costing with VAT

- VAT - Tax Planning & Tax Saving

- Business Impact

- Much More

Target Audience:

- Business Entrepreneurs, CEO , Directors, Department Managers

- CFOs , Finance Directors , Finance Managers

- Accounting, Finance Staff, Staffs dealing with Payable & Receivables

- Tax Managers, External and internal Auditors

- Procurement and Supply Chain Managers

- IT and IS Managers, Sales and Marketing Staff,

- Professional and Academic graduates

- Those who want to learn about VAT

Course Methodology

VAT - Awareness

- Lecture with Interaction

- Question and Answer session with Participants’ industry

- VAT consultancy for Participants’ industry scenario

- Practice of written activities for exploring taxation skills of participants

- VAT registration exercise

VAT - Accounting

- Lecture with Interaction

- VAT accounting activities with adjustment

- VAT return submission activity (2 hr)

- VAT Management Accounting Activities

- VAT calculation activity to test the understanding of participants

- Strategy discussion on keeping the 2017 Price even with VAT