Online VAT Registration Process | Simfotix
 
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  • One Day Training Workshop
  • Two Day Traning Workshop
GCC-VAT Beyond Accounting

UAE VAT! Learn All About It

Online Registration To Final Audit



19 Nov, 2017

Dubai



USD 325

per participant

Course Outline
Your VAT Knowledge
  • Overview on GCC VAT Framework
  • What is Value Added Tax (VAT)?
  • Common Framework for GCC Countries & Local Legislations
  • Operational Conflicts in VAT Framework – Taxed & Non Taxed Regime Members
  • What are level of preparations for VAT
VAT Accounting & Calculation
  • VAT Calculation & Implication
  • Input & Output Tax
  • Standard Rated, Zero Rated & Exempt Supplies
  • Calculation & Reporting Challenges
  • Complex Transactions in VAT
  • Place of Supply – Goods
  • Place of Supply Services
  • Date of supply: When to account for output VAT on supplies
  • Net Tax Payable
  • Input Tax Recovery Conditions
VAT Impact on Existing Business
  • Business Impact – Margins, Pricing & Cash Flows
  • Procurement – Cost, Price Hikes & Tax Saving Opportunities
  • Impact Analysis & Due Diligence
  • Tax Rates as per GCC Treaty
  • Record Keeping, accounts and formats
  • Audits & Penalties as stated by Federal Tax Authority
Online VAT Registration Process
  • Step by Step Tutorial : How to make online account for VAT
  • Mandatory Documentation & Business Figures for Online Registration
  • The FTA - VAT registration form
  • VAT Groups -Registration and impact on business group
  • Supplies between inside/outside of VAT Group
VAT obligation -Tax Return filing & Payment
Record-Keeping
The following records are required to be kept to ensure accurate tax compliance:
    1: Books of account and any information necessary to verify entries, including, but not limited to:
  • Annual accounts
  • General ledger
  • Purchase day book
  • Invoices issued or recieved
  • Credit notes and debit notes
    2:
  • Additional records required for specific taxes
  • Different taxes may require different records to be kept in order for taxpayers to be compliant, for example, a VAT account
    3:
  • Any other information as directed by the FTA that may be required in order to confirm, the person's liability to tax, including any liability to register
VAT Group Registration
  • Each Member State may treat the Tax Group as a single Taxable Person
  • Two or more persons carrying on a business are able to apply for a single "Group" VAT registration where:
    • Each person has a place of establishment or a fixed establishment in the UAE
    • The persons are "related parties", and
    • Either one person controls the others, or two or more persons from a partnership and control the others