Value Added Tax Implementation

The introduction of VAT represents a significant change in tax policy and will have a major impact on businesses across GCC. The program will provide a thorough understanding of the basic concepts and principles of VAT and how it operates internationally. When national VAT law of the country where the company is operating is issued, the program will be based on the content of the mentioned law and its secondary legislations. This course introduces the basics of Value Added Tax. As such, no great understanding of VAT is required as the course will build from the absolute basics through to some of the more complex issues such as exemption. The workshop does not focus on VAT as applied any one country but takes a global view.

The course aims to enable understudies to:
1. Understand the basic concepts and calculation of tax base and rate.
2. Discuss some advantages and disadvantages of the VAT.
3. Describe VAT mechanism, particularly in respect of output tax and input tax, in such a way that it remains neutral in its application by businesses.
4. Identify how VAT applies to international transactions of both goods and services.
5. Explain the impact of exemption in VAT and how tax is calculated by businesses that deal in exempt supplies.