IBFD Course Programme Global VAT
Summary This four-day intermediate-level course on global VAT/GST offers participants the opportunity to gain a basic understanding of the principles of VAT and GST around the globe. The course will also provide an analysis of the global VAT/GST issues in some specific areas, such as e-commerce and real estate investments, together with a discussion of the VAT/GST systems in the United States, India, China, Russia, Australia and Brazil. There is also a dedicated section focusing on the VAT/GST implications of cross-border supplies. Overview and Learning Objectives The course will set out the basic principles of VAT/GST systems used by various developing countries and advanced economies including the definition of a taxable person, what constitutes a taxable supply for VAT/GST purposes and how a business can deduct the VAT it incurs. Throughout the course, a comparison between the VAT/GST systems, with examples from different jurisdictions worldwide, will be provided in order to compare and contrast different regimes. Participants should, at the end of the course, be able to identify and understand the concepts of different VAT/GST jurisdictions and address the complex issues that can arise for international businesses conducting transactions between these jurisdictions. This is an interactive course with a maximum of 32 participants. Prior to the course, participants will be given access to a documentation platform which provides them with additional reading material (e.g. legal documentation, case law and related articles/literature). During the course, participants will be provided with a course binder containing documents relevant to the course. Field of Study Taxes Who Should Attend? The course is suitable for practitioners in tax advisory firms, tax specialists in commerce and industry, and government officials. Course Level and Prerequisites This is an intermediate-level course. Participants taking this course will be expected to have a good understanding of a VAT/GST system. The course is designed for tax professionals who want to learn more about complex issues and arrangements that are of particular interest to businesses operating in an international, cross-border context. 2
Day 1 08.30-09.00 Registration 09.00 09.20 Welcome and IBFD Overview 09.20 10.20 Introduction General introduction to VAT/GST Advantages and disadvantages of VAT/GST Neutrality of the VAT systems Overview of the key concepts in VAT/GST: taxable persons, taxable supply, taxable amounts and rates, definition of goods and services Country examples 10.20 11.20 Taxable Persons What is a taxable person? Small businesses Government bodies VAT groups Holding companies 11.20 11.40 Break Refreshments 11.40 12.45 Goods and Services Transactions subject to VAT/GST basic rules Difference between goods and services Separate and composite supplies 3
14.00-15.00 Taxable Amount and VAT Rates Consideration, subsidies, withdrawal/self-supply, discounts Open-market value Standard rate, reduced rates, increased rates 15.00 16.00 Deduction of Input Tax Basic rules for input tax deduction Direct link between inputs and outputs Partial and non-deduction Adjustment of input tax deduction VAT refunds 16.00-16.15 Break Refreshments 16.15-17.00 Case Study 4
Day 2 09.00-10.10 Cross-Border Supplies of Goods Place of supply of goods: general rules, special rules Intra-Community supplies and acquisitions Imports, exports and warehousing regimes Carousel fraud Time of chargeable event 10.10 11.20 Cross-Border Supplies of Services Place-of-supply rules Fixed establishments Effective use and enjoyment Reverse charge mechanism 11.20-11.30 Break refreshments 11.30 12.45 VAT on E-Commerce BEPS Action 1 Place of supply Reverse charge mechanism Administrative obligations 14.00 15.10 VAT on Immovable Property Investments Supplies and leasing and letting of immovable property Rights in rem Exemption and option for taxation 15.10 15.30 Break refreshments 15.30-17.00 Case Study 5
Day 3 09.00-10.45 GST in Australia Special activities 10.45-11.05 Break refreshments 11.05-12.45 GST in India Comparative analysis with existing VAT/GST regimes Federal and state taxes 14.00-14.30 GST in India (continued) 14.30-15.30 VAT in GCC Countries Comparative analysis with existing VAT/GST regimes Intra-GCC supplies 15.30-15.50 Break refreshments 15.50-17.00 VAT in GCC Countries (continued) 6
Day 4 09.00-10.45 Sales Tax in the United States Special rules 10.45-11.05 Break refreshments 11.05-12.45 Indirect Taxes in Brazil Federal, state and municipal taxes IPI, ICMS, ISS, PIS and COFINS Place of supply Right to deduct 14.00-15.20 VAT in China Special activities 15.20-15.40 Break refreshments 15.40-17.00 VAT in Russia Special activities 7