VAT Boot Camp

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Course Overview

Become a VAT Expert with Lynchpin’s VAT Boot Camp

Are you a Finance Professional who wants to upgrade the VAT knowledge to next level? Did you ever wish to start your own VAT Consulting Firm? There is no best time than NOW. Companies in UAE are looking to cut cost and searching for suitable outsourcing options for their VAT Return Filing and other VAT related Advisory Services.

There are over 300,000 companies in UAE who are now registered for VAT. A significant number of these companies are outsourcing their VAT function as it is a specialized area and their existing Accounts Team cannot handle VAT to a satisfaction level. We at Lynchpin Training have started a mission to enable you to start your very own VAT Consulting Firm in Dubai.

This Boot Camp Program for 2 months will take you from scratch till you become a VAT Expert and later it can also help you launching of your own firm.

Course Details

Bootcamp Start
Dates

Tuesday 13 June, 2023
Duration 3 Months

Training Fee

AED 6900

Get This Course Online – Instant Access Now

Online Course Fee – AED 1,490

Run This Course
In-House

Enjoy this certified
program at your premise of choice, with lower costs, and schedule that suits you best.

FULLY CUSTOMIZED
ACCORDING TO YOUR NEEDS!

Course Outline

Scope of Tax

Concept of Taxable Supply
Deemed Supply
Scope of VAT on imports
Establishing the responsibility of recording VAT

Supply of Goods & Services

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

Deemed Supplies

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

VAT Registration

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

Date of Supply Rules

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

Place of Supply Rules

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

Value of Supply Rules

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

Profit Margin Scheme

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

Zero-rate Supply of Goods & Services

What is the concept of zero-rating?
General rules for zero-rated supplies
What are the zero-rated goods and services?

Industry-wise Impact of Zero-rated Supply of Goods & 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

VAT Exemptions

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

Single & Mixed-use Supply

The concept of composite supply
VAT Treatment of supplies of more than one component

Reverse Charge Mechanism and VAT on Imports

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

Designated Zone & It’s VAT Impact

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

VAT Calculation & Payment of VAT

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

Partial VAT Exemption

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

Capital Asset Scheme

Definition of Capital Assets
The concept of qualifying assets
Application of Capital Asset Scheme
Adjustments required under Capital Asset Scheme

Reversal/Adjustment of Output VAT

When to reverse/adjust output VAT?
Mechanism of adjustment of Bad Debts
Issuance of Tax Credit Note
The format of Tax Credit Note

Tax Invoice & 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

Violations & Penalties

Administrative penalties
Tax evasion penalties
Joint liabilities in case of penalties

Record Keeping

Mandatory records to be maintained under tax laws
Record keeping for input and output
Language of records
Record retention period

VAT Firm Boot Camp Journey

By enrolling in this life-changing Boot Camp, you will be starting a journey towards your becoming a VAT Consulting Pro. Not only you will be trained on technical aspects of VAT Law but also you will be practically handling the VAT filing issues and dealing with FTA.

You can even start your own VAT Consulting form after attending the Advanced VAT Boot Camp.

Boot Camp FAQs

What will be the Outline of UAE VAT training sessions?

We shall cover end to end all areas of UAE VAT Law (Decree-Law no. 8) and UAE VAT Executive Regulations. The practical VAT scenarios will be discussed. It will not be an academic training rather, it will be focused on practical issues that a VAT Consultant will face in the future while handling his own clients.

Who will the trainer in this Boot Camp?

The Boot Camp will be taught by our very own Mr. Mirza Farrukh Baig. He is a Fellow Chartered Accountant, a VAT expert a Certified inbound marketer. He has been successfully running businesses for the last 2 decades. Mr. Farrukh is also heading a leading VAT Consulting firm in UAE. He has run many businesses from scratch and taken them to the next level.

He is also certified in Launching New Venture from Harvard Business School – USA. He will be assisted by appropriate co-trainers, as and when required.

Will this Boot Camp be Face to Face or delivered Online?

Boot Camp will be completely delivered Online. You can attend it from the comfort of your home and fro anywhere in the world. There would be live Online Sessions. All sessions will be recorded and you will have access to recorded sessions for your future reference.

I am doing a job currently, can I join this Boot Camp?

This Boot Camp is ideally suited for those people who are doing a job. This will guide you on how you can start your own new business or even do it on a Freelancing basis while continuing your job.

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

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 !

Training was with live examples and case studies, Trainer has delivered the training with passion and sincerity. Both Venue and Training were Good.

Lynchpin workshop was great learning with my current tasks at work, which was taking me long time before the training.

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

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 –

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.”

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.

Lynchpin trainer is brilliant and have excellent delivery skills – a new way to learn Finance for Non-Finance.

Master the Finance and related expertise with our unique and customized Finance Training options.

VAT Boot Camp

Course Overview

Course Outline

FAQ's

Review

Enquire Now

Course Overview

Become a VAT Expert with Lynchpin’s VAT Boot Camp

Course Details

Bootcamp Start
Dates

Training Fee

Get This Course Online – Instant Access Now

Run This Course
In-House

FULLY CUSTOMIZED
ACCORDING TO YOUR NEEDS!

Course Outline

VAT Firm Boot Camp Journey

Boot Camp FAQs

What our Clients have to say

Explore

Contact Us

Stay Connected

VAT Boot Camp

Course Overview

Course Outline

FAQ's

Review

Enquire Now

Course Overview

Become a VAT Expert with Lynchpin’s VAT Boot Camp

Course Details

Bootcamp StartDates

Training Fee

Get This Course Online – Instant Access Now

Run This Course In-House

FULLY CUSTOMIZED ACCORDING TO YOUR NEEDS!

Course Outline

VAT Firm Boot Camp Journey

Boot Camp FAQs

What our Clients have to say

Explore

Contact Us

Stay Connected

Bootcamp Start
Dates

Run This Course
In-House

FULLY CUSTOMIZED
ACCORDING TO YOUR NEEDS!