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Course Overview

UAE VAT Updates Training Program

Lynchpin is pleased to launch the Advanced VAT Training program. This 2 days intensive VAT Training program is conducted in Dubai. Unlike our Essential VAT Training, we have designed this Advanced VAT Training focused on practical VAT issues in UAE and GCC. You will get in-depth VAT knowledge for all key areas as UAE VAT Law and UAE VAT Executive Regulations.
Upon the successful completion of this course the participants should be able to:
  • Understand the concept of VAT and its impact on the economy
  • Understand the impact of VAT on the operational and financial performance of the business
  • Differentiate various types of supplies with reference to VAT
  • Differentiate Input VAT and Output VAT
  • Categorize the supplies for VAT calculation
  • Understand the impact of VAT on the Imports and Exports to the member countries (Gulf region) and non-member countries (rest of the world)
  • Prepare the invoices including VAT
  • Understand the VAT registration process and prepare the required documents for VAT registration
  • Understand VAT administration, fines and penalties related to VAT filing
  • Identify common errors in VAT calculation

What You Will Get

  • A comprehensive case study to cover all the aspects of VAT
  • Seminar Pack containing the information presented on the day
  • Certificate of Participation

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Course Outline

Value Added Tax Key Terms - I

  • Concept of Taxable Supply
  • Deemed Supply
  • Scope of VAT on imports
  • Establishing the responsibility of recording VAT
  • How to differentiate between Supply of Goods and Supply of Services
  • VAT impact on Supply of more than one component
  • VAT impact on agency relationship and supplies via agents
  • VAT recording on issuance and redemption of Vouchers
  • VAT treatment for discounts and subsidies
  • What supplies are considered as deemed supplies?
    • Free Goods
    • Intra-GCC supply of own goods
    • Goods for private use of owners and employees
    • De-registration effect on unsold goods deemed as supplies
  • Under what conditions deemed supplies are not subject to VAT
  • When to register for VAT?
  • Who should register for VAT?
  • Exceptions to VAT registration i.e. when you are not required to register for VAT even if you have taxable supplies
  • Mandatory vs Volunteer VAT registration
  • Treatment of Capital Assets sale while calculating VAT registration threshold
  • VAT registration applicability on non-residents
  • The concept of Group VAT registration
  • When to account for VAT as per date of Supply Rules
  • What is the date of supply rules under special circumstances
    • For consecutive supplies (e.g. construction contracts)
    • Supplies through vending machines
    • Date of supply for deemed supplies
    • Date of supply for vouchers
  • How to establish that place of supply of any goods/services is UAE?
  • Place of supply of Goods
  • Place of supply of Services
  • Place of supply of water and energy
  • Place of supply in special cases e.g. implementing state effect
  • Place of supply of telecommunication and electronic services
  • Place of supply of real state
  • Place of supply of transportation services
  • On what amount VAT should be charged under Value of Supply Rules
  • Value of Supply
  • Value of Import and what is the effect of landed cost components and customs duty
  • Value of Supply to Related Parties – special considerations
  • Value of Deemed Supply – on what value e.g. free goods to be taxed
  • Value of supply in case of discounts and subsidies

Value Added Tax Key Terms - II

  • What is profit margin scheme
  • Who is eligible for profit margin scheme?
  • How to calculate VAT on profit margin scheme?
  • Recordkeeping requirements for entities registered under profit margin scheme
  • What is the concept of zero-rating?
  • General rules for zero-rated supplies
  • What are the zero-rated goods and services?
  • Export of goods & Services
  • Export of telecom services
  • International transport of goods and passenger
  • Zero-rating of certain means of transport
  • Precious metals (e.g. gold, silver, platinum)
  • Treatment of residential building and converted residential buildings
  • Charity buildings
  • Educational services – higher education vs school education
  • Health care services and supply of healthcare products
  • Treatment of VAT while you are selling exempt items
  • Impact of VAT exemption on certain industries
    • Residential buildings
    • Financial Services
    • Bare land
    • Local passenger transport
    • Exemption on imports and suspension of the VAT
  • The concept of composite supply
  • VAT Treatment of supplies of more than one component
  • The concept of Reverse Charge Mechanism
  • Accounting entries in reverse charge mechanism
  • Tax calculation and tax reconciliation under reverse charge mechanism
  • The implication of import VAT on intra-GCC transshipments
  • VAT on imports by unregistered persons
  • The concept of Designated Zones
  • Designated Zone vs Free Zone
  • VAT Treatment on Designated Zone Trade under special circumstances
    • Imports in Designated Zones
    • Exports from Designated Zones
    • Supply of goods from Designated Zones to mainland companies
    • Supply of services from Designated Zones to mainland companies
    • Supply of goods/services within the same Designated Zone
    • Supply of goods/services from one Designated Zone to Another Designated Zone

Value Added Tax Key Terms - III

  • How to calculate final VAT liability/refund
  • Recovery of input VAT – what are the conditions
  • Disallowed input VAT
  • Treatment of input VAT paid before registration
  • How Government entities and Charities recover VAT?
  • Filing of VAT Return – Procedure & Demo
  • Filing of VAT Return
  • What are partially exempted entities?
  • How partial exemption impacts the entity’s eligibility to recover input VAT
  • Calculation of partial exemption ratio for recoverable input VAT
  • Adjustment of input VAT post recovery in the final tax return
  • Definition of Capital Assets
  • The concept of qualifying assets
  • Application of Capital Asset Scheme
  • Adjustments required under Capital Asset Scheme
  • When to reverse/adjust output VAT?
  • Mechanism of adjustment of Bad Debts
  • Issuance of Tax Credit Note
  • The format of Tax Credit Note
  • Requirements for issuance of Tax Invoice
  • Evidence of Supplies to the GCC Implementing States
  • Invoice currency, rounding off and 14 days invoice rule
  • Administrative penalties
  • Tax evasion penalties
  • Joint liabilities in case of penalties
  • Mandatory records to be maintained under tax laws
  • Record keeping for input and output
  • Language of records
  • Record retention period

Trainer's Profile

Mr. Mirza Farrukh Baig,
FCA
Harvard Trained | CEO Lynchpin Group | Lead VAT Trainer & Consultant

Mirza Farrukh Baig-Harvard Trained, is one of our Decorated & Talented Trainer and Instructional Designer for Finance, Accounting, Risk Management training courses at Lynchpin Training. With him on the training venue, we guarantee the best style of delivery, team engagement, the energy level of the class and the WOW experience by your team is assured.

Mirza Farrukh Baig is a qualified Chartered Accountant and a career banker. He has over fifteen years of experience teaching CMA, ACCA, CFA and CA students. He is also the lead corporate trainer at Lynchpin delivering specialized training on Finance and Accounting He has served for eight years in a leading commercial bank in UAE where he was instrumental in strengthening the SME credit risk unit. Apart from approval of banking facilities for SME clients. He played an instrumental role in developing and implementing the SME credit risk policy of the bank.

Currently, he is the CEO of Lynchpin Training & Consulting and Chief Consultant for VAT Advisory, Consulting & Implementation. Farrukh carries extensive experience in dealing indirect taxes both for the UK and South Asia. Provided VAT (Value Added Tax) consultancy services with due care, experience, resources, and exposure to tax regimes.

Farrukh is an associate member of the Institute of Chartered Accountant of Pakistan (ICAP). He has been awarded a gold medal for outstanding performance in his CA final examination, by ICAP. He also went to Harvard Business School to Executive Entrepreneurship training program.

What our Clients have to say

I am implementing my real work in the training as it applies fully to what I do and it came to me at the right time, strategising now for my work based on the learnings from training
Manager Learning & DevelopmentThe Executive Council of Dubai
Excellent experience with Lynchpin and this session I will never forget. Their Trainer is very knowledgeable and has lots of examples from his experience. Keep up the good work lynchpin team !
Finance ManagerCivil Aviation Authority Abu Dhabi
Training was with live examples and case studies, Trainer has delivered the training with passion and sincerity. Both Venue and Training were Good.
Sr. Manager ReportingDubai World
Lynchpin workshop was great learning with my current tasks at work, which was taking me long time before the training.
Faiza NasirPortfolio Manager, NBAD
Fun learning and I am implementing my real work in the training as it applies fully to what I do and it came to me at the right time, strategising now for my work based on the learnings from training
Head of FinanceYAS Water World
Lynchpin’s session was informative and required for business heads. Trainer went to the required level of audience to make them understand the concept. (Head of Corporate Planning, Eurostar) Everything was well organized,Lynchpin is very respectable Training Company –
Accounts ManagerAl Wazan Oil & Gas
Trainer is very knowledgeable and patient and passionate with training. He make sure the trainees have fun ensuring they have learning as well. I have been with Lynchpin for CMA and now this and for both i felt well taken care of.”
DidithAccountant - Arthur D Little
Very Persuasive approach by Lynchpin , very accurate and worth for whole day listening to the trainer. The group work in inhouse program is worth attending.Excel is never delivered like this before.
Director SalesFerrari World
Lynchpin trainer is brilliant and have excellent delivery skills – a new way to learn Finance for Non-Finance.
VP Human ResourceThuraya UAE
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