Accounting for Value Added Tax VAT

Course Overview

VAT is an indirect tax applied upon the consumption of most goods and services. VAT is levied by VAT registered businesses which make supplies of goods and services in the course of furtherance of their business. VAT also applies on the import of goods. VAT is levied at each stage in the supply chain and is collected by businesses on behalf of the Government. VAT is ultimately incurred and paid by the end consumer.

Course Objectives

  • Provide general overview of VAT and the related operational considerations in order to assist businesses to successfully implement the tax and manage VAT post implementation
  • Prepare businesses for the challenges operating in the region as VAT will impact all parts of the business
  • Gear up for involvement and support of senior management to ensure the necessary ‘whole of business’ engagement in the implementation of the project

Course Content

  • Introduction
  • What is VAT
  • How does VAT work
  • Different types of VAT supplies
  • Compliance requirements under VAT
  • VAT implementation considerations
  • Business considerations
  • Specific industry considerations
  • Frequently asked questions on VAT implementation

Course Methodology

The training is going to be highly interactive combination of lectures, group discussions, questionnaires, individual reflections, role plays, simulations and videos.

Target Audience

Corporate tax and legal managers, finance and accounts managers, supply chain managers, project managers, change managers, marketing and sales managers.

Duration

02 Days (08:30–14:30) with appropriate breaks for tea/refreshments and lunch.

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