IBFD Course Programme Introduction to GCC VAT Dubai, UAE 3 5 March 2019
Price: 1,500 (US$ 1,880) Price for full IBFD Members: 1,200 (US$ 1,504) Early Bird Discount: A 30% discount will be applied to registrations for this course which are received before 6 March 2018. (The Early Bird discount cannot be used in conjunction with other discounts.) Summary This course is part of the comprehensive programme: IBFD Certificate in GCC VAT. The course is designed to provide participants with a framework of the most important value added tax (VAT) principles and issues that anyone dealing with VAT in the GCC is confronted with and needs to know. At the end of the course, participants will be able to understand how GCC VAT works, to whom it applies, how to comply with the administrative obligations related to it and how to mitigate any risks deriving from the implementation of GCC VAT. Overview and Learning Objectives This course is part of the comprehensive programme: IBFD Certificate in GCC VAT. The course is designed to provide participants with a framework of the most important value added tax (VAT) principles and issues that anyone dealing with VAT in the GCC is confronted with and needs to know. At the end of the course, participants will be able to understand how GCC VAT works, to whom it applies, how to comply with the administrative obligations related to it and how to mitigate any risks deriving from the implementation of GCC VAT. Throughout the course, instructors will also bring several legislative examples from European and other jurisdictions as well as case law from the European Court of Justice to showcase the practical aspects of the issues expected to occur under the GCC VAT. In addition to the topics covered, the sessions will include case studies to help course participants gain confidence in applying the knowledge and skills acquired during the course. This is an interactive course with a maximum of 50 participants. Participants will be given access to additional reading material (e.g. legal documentation, case law and related articles/literature). If you have a question, please send it to tailoredcourses@ibfd.org. Field of Study Taxes Who Should Attend? The course is suitable for entrepreneurs, accountants, CFOs, bankers, investors, tax managers, lawyers, business people, tax advisers, government officials, policymakers, in-house tax counsel and general tax practitioners who need to acquire an understanding of VAT within the GCC. Course Level and Prerequisites This is an introductory-level course. No advance preparation is required. Prior experience with VAT is not a prerequisite to satisfactorily participating in this course. 2
Day 1 08.30-09.00 Registration 09.00-10.30 Introduction - Jordi Sol, IBFD, the Netherlands General introduction to the GCC VAT legislation and mechanism Harmonization of VAT in the GCC Advantages and disadvantages of VAT Neutrality of the VAT system 10.30-10.50 Break Refreshments 10.50-11.45 Taxable Persons - Reggie Mezu, Baker & McKenzie, Dubai, United Arab Emirates What is a taxable person? residents and non-residents Small businesses Importers Group treatment Holding companies 11.45-12.45 Goods and Services - Reggie Mezu Transactions subject to VAT basic rules Differences between goods and services Exceptions and unusual items Intermediaries and commissionaires Asset labelling Separate and composite supplies 14.00-15.40 Taxable Amount VAT Rates - Mohamed Faycal Charfeddine, Aujan Group, United Arab Emirates Consideration, subsidies, withdrawal/self-supply, discounts, vouchers Open-market value VAT rates 15.40-16.00 Break Refreshments 16.00-17.00 Deduction of Input Tax - Jordi Sol Basic rules for input tax deduction Direct link between inputs and outputs Partial and non-deduction Adjustments of input tax deduction VAT refunds 3
Day 2 09.00-10.00 Immovable property - Reggie Mezu Supplies and leasing and letting of immovable property Rights in rem Exemption and zero rate 10.00 10.30 Place and Time of Supply - Reggie Mezu Place of supply of goods: general rules, assembly/installation, interstate supplies of goods and distance selling Chain transactions Place of supply of services: general rules and special rules Effective-use-and-enjoyment override Reverse charge mechanism Time of chargeable event, including continuous supplies 10.30-10.50 Break Refreshments 10.50-12.45 Place and Time of Supply (continued) 14.00-15.30 Exemptions/zero-rate transactions - Jordi Sol Overview of exemptions and zero-rate transactions Consequences of exemptions and zero-rate transactions Conditions 15.30-15.50 Break Refreshments 15.50-17.00 Imports and Exports - Reggie Mezu Imports and interstate acquisitions of goods Postponed accounting Exports and interstate supplies of goods Zero rate Documentary evidence Retail export scheme Warehousing arrangements 4
Day 3 09.00-10.40 Administrative Obligations - Saira Menon, Taxnomics, Dubai, United Arab Emirates Registration and deregistration for VAT purposes (VAT groups) Business records VAT invoices VAT returns Payment of VAT Appeals, tax procedure and penalties 10.40-11.00 Break Refreshments 11.00 11.30 Administrative Obligations (Continued) 11.30-12.45 Special Schemes (Including Digital Services) - Saira Menon Small businesses Investment gold Second-hand goods, works of art, antiques and collectors items Telecommunication, broadcasting and electronically supplied services (OECD Guidelines: BEPS: Action 1) 14.00-15.30 Interstate Trade 1 - Howard R. Hull, Al-Futtaim Group, United Arab Emirates Origin and destination principles Interstate supplies and acquisitions of goods Transfers of goods Distance selling Interstate supplies and acquisition of services 15.30-15.50 Break Refreshments 15.50-17.00 Interstate Trade 2 - Howard R. Hull Special cases Triangulation Consignment arrangements and call-off stocks Bilateral work on goods 5