ADVANCED UAE VAT. 2 Day Program Dubai - UAE. Course Director Mirza Farrukh Baig FCA. Trained 1,300+ professionals on VAT in UAE

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1 ADVANCED UAE VAT 2 Day Program Dubai - UAE Course Director Mirza Farrukh Baig FCA Trained 1,300+ professionals on VAT in UAE 1. Understand key VAT concepts with in-depth breakdown of important VAT implications 2. Learn the industry-specific VAT impact 3. Practice with case studies and worked examples 4. VAT Manual: Take with you a comprehensive VAT manual to streamline VAT process in your organization 5. VAT Reconciliation: Learn how to prepare VAT reconciliation for filing VAT Return Master VAT Concepts with UAE s Leading VAT Expert

2 Scope of Tax Concept of Taxable Supply Deemed Supply Scope of VAT on imports Establishing the responsibility of recording VAT Supply of Goods & Services How to differentiate between Supply of Goods and Supply of Services VAT impact on Supply of more than one component VAT impact on agency relationship and supplies via agents VAT recording on issuance and redemption of Vouchers VAT treatment for discounts and subsidies Deemed Supplies What supplies are considered as deemed supplies? Free goods Intra-GCC supply of own goods Goods for private use of owners and employees De-registration effect on unsold goods deemed as supplies VAT Registration VAT Registration Procedure Group VAT Registration Amendment & De-Registration Procedure Date of Supply Rules When to account for VAT as per date of supply Rules What are date of supply rules under special circumstances For consecutive supplies (e.g. construction contracts) Supplies through vending machines Date of supply for deemed supplies Date of supply for vouchers Place of Supply Rules How to establish that place of supply of any goods/services is UAE? Place of supply of Goods Place of supply of Services Place of supply of water and energy Place of supply in special cases e.g. implementing state effect Place of supply of telecommunication and electronic services Place of supply of real state Place of supply of transportation services Place of Residence Rules Identification of fixed place of establishment Dealing with multiple places of establishment VAT liability in case of multiple places of establishment Place of residence of agent Value of Supply Rules On what amount VAT should be charged under Value of Supply Rules Value of Supply Value of Import and what is the effect of landed cost components and customs duty Value of Supply to Related Parties special considerations Value of Deemed Supply on what value e.g. free goods to be taxed Value of supply in case of discounts and subsidies Profit Margin Scheme What is profit margin scheme Who is eligible for profit margin scheme? How to calculate VAT on profit margin scheme? Recordkeeping requirements for entities registered under profit margin scheme Zero-rate Supply of Goods & Services What is the concept of zero-rating? General rules for zero-rated supplies What are the zero-rated goods and services?

3 Industry-wise Impact of Zero-rated Supply of Goods & Services Export of goods & Services Export of telecom services International transport of goods and passenger Zero-rating of certain means of transport Precious metals (e.g. gold, silver, platinum) Treatment of residential building and converted residential buildings Charity buildings Educational services higher education vs school education Health care services and supply of health care products VAT Exemptions Treatment of VAT while you are selling exempt items Impact of VAT exemption on certain industries Residential buildings Financial Services Bare land Local passenger transport Exemption on imports and suspension of VAT Single & Mixed-use Supply Concept of composite supply VAT Treatment of supplies of more than one component Reverse Charge Mechanism and VAT on Imports Concept of Reverse Charge Mechanism Accounting entries in reverse charge mechanism Tax calculation and tax reconciliation under reverse charge mechanism Implication of import VAT on intra-gcc transshipments VAT on imports by unregistered persons Designated Zone & It s VAT Impact Concept of Designated Zones Designated Zone vs Free Zone VAT Treatment on Designated Zone Trade under special circumstances VAT Calculation & Payment of VAT How to calculate final VAT liability/refund Recovery of input VAT what are the conditions Disallowed input VAT Treatment of input VAT paid before registration How Government entities and Charities recover VAT? Filing of VAT Return Procedure & Demo Filing of VAT Return Partial VAT Exemption What are partially exempted entities? How partial exemption impacts the entity s eligibility to recover input VAT Calculation of partial exemption ratio for recoverable input VAT Adjustment of input VAT post recovery in final tax return The trainer was well informed about business. Different scenarios for VAT were helpful. Serves the purpose of attending it! (Team Lead Finance AL Masaood Oil & Gas)

4 Capital Asset Scheme Definition of Capital Assets Concept of qualifying assets Application of Capital Asset Scheme Adjustments required under Capital Asset Scheme Tax Invoice & Tax Credit Note Requirements of issuance of Tax Invoice Evidence of Supplies to GCC Implementing States Invoice currency, rounding off and 14 days invoice rule Tax Period & Payment Concept of tax period Varied length of tax period Tax period in case of loss of capacity Tax Refunds Tax refund procedure Application for tax refund Violations & Penalties Administrative penalties Tax evasion penalties Joint liabilities in case of penalties Tax Agent Concept of Legal Representative Tax Agents Registration Appointment of a Tax Agent Tax Audits Procedure of Tax Audit by FTA Audited person s rights Appeal procedure Record Keeping Mandatory records to be maintained under tax laws Record keeping for input and output Language of records Record retention period Transition Rules Contracts started in 2017 & competed in 2018 Tax Impact Treatment of advances received in 2017 Supplies to registrants vs nonregistrants Treatment of consideration agreed in whether inclusive or exclusive of VAT Exchange of Info between the GCC States Information exchange between GCC States Central Electronic Service System between implementing states Misc. Provisions Revenue sharing between Emirates Jurisdiction clarifications Effective dates Excellent Course & very knowledgeable instructor (Finance Manager Maersk) It is excellent training; very clear conceptually and good at simplifying complicated scenarios and explaining well (Accountant DMCC)

5 * All discounts are mutuallyexclusive How to Register info@lynchpintraining.com Choose YourPackage: *Platinum Package Send 3 delegates (Get 20% discount) *Gold Package Send 2 delegates (Get 10% discount) *Regular Fee AED 3,900 perperson (All prices above are subject to VAT) Registration fees include expert tuition, workshop materials lunch & refreshments and your official Lynchpin Certificate documentation Attendee(s) Details - Please complete in block capitals Tel:...Fax:...Mobile:... Tel:...Fax:...Mobile:... Tel:...Fax:...Mobile:... Special requirements (e.g. meals, accessibility): Company Details - Please complete in blockcapitals Company:... Address:... Postcode:...Country:... Tel:...Fax:... To assist us with future correspondence, please supply the followingdetails: Name of the Department Head:... Department:...Fax: Name of the Department Head:... Department:...Fax: Terms andconditions RUN THIS COURSE IN-HOUSE Save $ costs and get acustomized solution tomeet your business objectives. We offer corporate courses for a group of 5 people andmore. Committed to create customer-focused solutions and high quality of our trainings to impact your bottom line, we are one of a few organizations which offer 100% tailoring across our product portfolio. If you need more information about our corporate programmes contact Corporate Relationship Executive today. Tel: , info.corp@lynchpintraining.com 1. Please note that full payment must be recieved prior to the course to be admitted to the event. 2. There will be a 50% refund if the delegate concels registration more than 7 days before the course starts. There will be no refund if the delegate concels registration 7 days or less prior to the course start date. if you are unable to attend a substituion delegate in welcome in your place at anytime. 3. Lynchpin Training reserves the right to make changes to Program Content, dates, trainer, venue, timings if such action is deemednecessary. 4. Delegates are not allowed to record using any photographic, audio or video device during the course Signature: Date: Due to unforeseen circumstances, the programme may change and Lynchpin reserves the right to alter the venue and/or speakers. LynchPin s ValuedClients