Value-Added Tax (VAT) in the GCC program

Transcription

1 Value-Added Tax (VAT) in the GCC program

2 Value-Added Tax (VAT) in the GCC program Value Added Tax (VAT) is a broadly-based consumption tax assessed on the value added to good and services. With the levy of VAT, the business models of many organizations will be challenged which creates an immediate need to work on strategic, operational and tactical planning to combat these challenges successfully. This program is specifically designed to introduce the concept of VAT to the enterprises operating in GCC region keeping in view their business challenges based on changing the economic and commercial environment. Learning Objectives Gain a comprehensive introduction of the VAT framework in the GCC Explore the different types of taxable and zero-rated supplies Delve into the administration and registration procedures involved in filing for VAT Gain an insight into the accounting and calculations that goes behind VAT Learn to plan for VAT, align it with business strategy and foresee challenges Focus on resolving advanced business issues which involve VAT Pre and post assessments to gauge your level of knowledge Who should attend CFO, Finance Director, Finance Managers Accounting & Finance Staff Tax Managers Procurement & Supply Chain Managers IT & IS Managers Sales & Marketing Staff Department heads

3 Program Agenda What is VAT? Introduction GCC VAT Framework VAT Legislation & Regulations Impact on businesses and economy Type of supplies Standard rates supplies Zero rated supplies Exempt supplies Mixed supplies VAT planning and implementation considerations Impact assessment IT and systems Finance Admiration Contract pricing Supplier management Communications and training Impact on cash flows VAT Project Management Case Study: Impact on cash flows Case Study: Types of supplies VAT Project Management VAT accounting Advanced issues Calculation of output VAT (Sales/gifts) Calculation of input VAT (Purchases/expenses) Reverse Charge Mechanism Pre-registration input VAT VAT on non-current assets VAT on operating/finance lease Discounts and returns Tax point issues VAT on receivables and payables Bad and doubtful debts Case Study: VAT Accounting Administration VAT registration and de-registration Filing VAT return VAT invoices and records Fines and penalties VAT Groups VAT on import/exports Intra GCC Transactions Treatment of Free Zones Inter-company transfers Impact on Various Sectors Real Estate Retail Education & Training Health Care Financial Services Banking Insurance Wealth Management Brokerage Oil and Gas Transport Quiz Concept checkers Typical Calculations Short Questions

4 Program Details 25th-26th November 2018 Hormuz Hotel R.O. 300 per person Registration

5 About Kaplan Training the world s leading professionals for more than 70 years Kaplan began in 1938 with one student and one instructor and has now become one of the world s largest, diversified education companies that delivers exam-prep as well as beyond-exam courses to more than 1 million candidates globally. Genesis Institute joined the Kaplan family in 2017, thereby leading to the inception of Kaplan Genesis. Kaplan Genesis is a leading provider of professional development solutions managed by highly qualified and experienced industry experts who are passionate about the effective delivery of high quality education. Our suite of short programs is ideal for professionals working or aspiring to work in the field of investment banking, private equity, corporate finance, asset valuation, financial data analysis, and equity research. Kaplan has delivered courses to over 1 million students globally across 400 locations Kaplan Genesis is one of the leading training providers in the region We are a Fortune 500 company Highly qualified and industry experienced trainers Our Trainers Meet our expert trainers Yasir Ali, CFA, CMA, ACCA, FRM, ACMA, CGMA Over 15 years of experience in implementation of foreign investment appraisal, risk management and preparing financial models. Basharat Ali, ACCA, CMA Over 5 years of experience in teaching ACCA, CIMA, ICAEW and CMA including financial, management accounting IAS and IFRS. A good training session on VAT led by an exceptional trainer! Esther Alexander, Accounts Manager The whole session was highly informative and useful! Got an opportunity to learn key concepts Nisha Yonzon, Business Development

6 About The Firm The Firm for Business and Economic Consulting The Firm is a business advisory and consulting company. The Firm offers various business advisory services for a wide range of companies from small business to large organizations. Consulting services offered various business areas including: Strategy Operations Accounting & Finance Business Management Project Management The Firm s services fall into three categories SME advisory services Research based consulting Capacity building through tailored training The Firm also offers specialized capacity building workshops for individuals and organizations. These sessions are designed to as refresher and technical skill development.

7 We also offer training for the following programs: CFA CMA Financial Modeling Corporate Training Dubai Office #2401, Vision Tower, Business Bay, P.O. Box , Dubai, UAE Tel: Keep up to date, follow us on social I (Toll free) I info@kaplangenesis.com