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<p><strong>VALUE ADDED TAX(VAT)</strong></p> <p>Who should attend the course</p> <p>·         Accounts Personnel</p> <p>·         Finance Managers</p> <p>·         Business Owners</p> <p>·         Managers</p> <p>·         Tax professionals and</p> <p>·         Professionals who are preparing for the transformation of their business as VAT is     introduced in UAE and GCC.</p> <p>Course Methodology</p> <p>The training is going to be highly interactive combination of lectures, group discussions, questionnaires, individual reflections, role plays, simulations and videos</p> <p>Course Content</p> <p>Introduction</p> <p>·         Tax</p> <p>·         Types of tax</p> <p>·         Direct tax</p> <p>·         Indirect tax</p> <p>What is Value Added Tax (VAT)?</p> <p>·         Global Scenario of VAT</p> <p>·         Overview on GCC VAT Framework</p> <p>·         <a href="http://www.revenue.ie/en/tax/vat/guide/general.html#section9">Amount on which VAT is chargeable</a></p> <p>·         <a href="http://www.revenue.ie/en/tax/vat/guide/general.html#section10">What are the rates of VAT?</a></p> <p>VAT – Challenges to Businesses</p> <p>·         Business Impact – Margins, Pricing &amp; Cash Flows</p> <p>·         Procurement – Cost, Price Hikes &amp; Tax Saving Opportunities</p> <p>·         Supply Chain – Maintaining Value Chain</p> <p>·         Contracts: Renegotiation &amp; Redrafting</p> <p>·         Compliance – Governance &amp; Control Issues</p> <p>·         Impact on Individuals</p> <p>Registering for VAT in UAE</p> <ul> <li>VAT returns and Liabilities</li> <li>Compliance requirements under VAT</li> </ul> <p> VAT Calculation</p> <ul> <li>VAT Calculation &amp; Implication</li> <li>Input &amp; Output Tax</li> <li>Standard Rated, Zero Rated &amp; Exempt Supplies</li> <li>Calculation &amp; Reporting Challenges</li> <li>Complex Transactions in VAT</li> </ul> <p>How to prepare yourself for VAT implementation?</p> <p>·         Updating your accounting systems</p> <ul> <li>Step by Step Journey to Jan 2018</li> <li>Pre Assessment – Review of Current State</li> <li>Impact Assessment – What, When, Why &amp; How to Change</li> <li>Design Implantation – Phased Planning</li> </ul> <p>Case Studies on VAT Implementation</p> <p>Simulation Game: Participants will get a comprehensive review of VAT implementation ranging from Inventory Management to VAT processing, recording &amp; periodical reporting in the form of a Board Game.</p>