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Advanced VAT Training Program2019-03-04T09:00:17+00:00

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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

Key VAT Terms

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
  • VAT on supplies by Government entities

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
  • What are exceptions to deemed 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

VAT Registration Procedure

  • How to fill the VAT registration form
  • What are the documents required for VAT registration?

Group VAT Registration

  • How to group the entities for Group VAT registration
  • The concept of related party and what can be considered as a related party?
  • Group registration application filing
  • Possible queries from FTA on group registration and how to handle them

Amendment & De-Registration Procedure

  • Amendment in single entity VAT registration
  • Amendment in Group VAT registration
  • Voluntary de-registration
  • VAT liability calculation for de-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

Place of Residence Rules

  • Identification of fixed place of establishment
  • Dealing with multiple places of establishment
  • VAT liability in case of multiple places of establishment
  • Place of residence of the agent

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
  • Value of supply for vouchers
  • Value of supply of postage stamps
  • What is market value concept?
  • How to apportion the value of supply of multiple items included as composite supply for single consideration
  • How to display the value of supply (price) when selling to non-registered customers (e.g. retail clients)

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

Tax Period & Payment

  • The concept of a tax period
  • Varied length of a tax period
  • Tax period in case of loss of capacity

Tax Refunds

  • Tax refund procedure
  • Application for tax refund

Tax Recovery Under Special Cases

  • Tax recovery for
    • Non-resident
    • New residence of UAE Nationals
    • Tourist visitors
    • Foreign Governments

Violations & Penalties

  • Administrative penalties
  • Tax evasion penalties
  • Joint liabilities in case of penalties

Tax Agent

  • The concept of Legal Representative
  • Tax Agents Registration
  • Appointment of a Tax Agent

Tax Audits

  • The procedure of Tax Audit by FTA
  • Audited person’s rights
  • Appeal procedure

Record Keeping

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

Transition Rules

  • Contracts started in 2017 & competed in 2018 – Tax Impact
  • Treatment of advances received in 2017
  • Supplies to registrants vs non-registrants
  • Treatment of consideration agreed in 2017 – whether inclusive or exclusive of VAT

Exchange of Info between the GCC States

  • Information exchange between the GCC States
  • Central Electronic Service System between implementing states

Misc. Provisions

  • Revenue sharing between Emirates
  • Jurisdiction clarifications
  • Effective dates

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.

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