GCC(Gulf Cooperation Council) has decided to implement VAT in Gulf countries. So Tax accountants are in high demand because of this. VAT or value-added tax has been implemented in most countries, and now the Gulf countries have started implementing them. From January 01 2018, all the registered business organisations have started charging VAT on supplies of Goods and Services within Saudi Arabia and UAE. Bahrain has implemented VAT from January 01 2019, followed by Oman from April 01 2021. The other two countries, i.e., Qatar and Kuwait, will be implementing VAT very soon.
As the GCC member states are trying to treat GCC on the Single Territory Concept, the concept and rules are the same in all states except for minor changes. So this course will help accountants and administrators in the smooth implementation of this process.
After this course, they will be in charge of the implementation process and help take their firm to a new level and train the employees in this new concept, increasing their chances of promotion and salary hike.
What will you learn?
This course provides you with detailed knowledge about Gulf VAT and its use. The main highlights of this course are
- Understand the fundamental concepts of VAT and how it functions
- Understand the VAT registration process
- Impact of VAT on import and export business
- Impact of VAT on significant industries and transactions
- Learn how to prepare the invoice and documentation required
- VAT compliance and filing obligations
- What is subject to the standard rates, zero rates, or exempt
- How to handle discounts and adjustments
- Know its implementation in Saudi Arabia and Gulf
- Individuals who have a degree or diploma course in accounting/tax can enrol for this course.
- Accountants working in Gulf countries who want a promotion and salary hike can take this course.
- Individuals who are looking to migrate to the Gulf and are interested in accounting and tax can consider this course
- This course is mainly for accountants, consultants and administrators who manage VAT or will handle it very soon.
Why get certified?
- Unlimited career opportunities for certified candidates
- Progress in career and management
- Industry favoured certificate
Where to get certified?
Finprov is providing a certified Gulf VAT Course along with Tally Prime. Both theoretical and practical knowledge of tally prime is taught here along with Gulf VAT. Practical knowledge is taught using 3 case studies.
Gulf VAT Syllabus includes
- General principles of VAT
- Categories of goods and services in VAT
- Input VAT and its calculations
- VAT compliance requirements
- Format of UAE VAT return
- VAT on sales and all other outputs
- VAT on expenses and all other inputs
- Conditions of exercising the right of input deduction
- Restrictions on input VAT deduction
- Goods transported to GCC implementing states
- Transporting own goods to other GCC states
- VAT groups
- VAT invoice and records
- Fines and penalties
Who all can enrol for this course
- Finance Managers
- Accounting and Finance staff
- Tax Managers
- Sales and marketing staff
- Department Heads
- Procurement supply chain Managers
- B.com, M.com, MBA graduates
Finprov provides a hybrid course, i.e. you can take up this course both online and offline depending upon your comfort. It is a two-month course where you will learn about Gulf VAT and its usage. You can also customise your time according to your needs.