What you'll learn
About Value Added Tax (VAT) and discover how VAT works
Understand the Laws and applicability
Understand the principles of VAT and how it operates
Compliance and filing obligations for businesses
Boost in your career with in-demand skills
Requirements
No previous experience is required. need just a desire and understanding of business to learn.
Description
The United Arab Emirates published its Value Added Tax decree law on 27th August 2017, paving the way for the introduction of the indirect tax on 1st January 2018. The standard VAT rate will be 5%, with a nil rate for certain goods.
Some UAE VAT law
The key elements of the new law cover
5% on taxable supplies and imports
VAT registration requirement threshold (Dh 375,000) and calculations, including voluntary registration option (if revenue above Dh 187,500)
Setting up VAT groups
Determining the date of supply for VAT purposes
Place of supply of goods and services rules
VAT nil-rating on the supply of goods and services within other GCC states which have implemented VAT
Exemptions on supply of service rules i.e. taxable where supplied
Role and impact of tax agents
Determining the value of taxable supplies, discounts and imports
Mixed supply rules
Supplies subject to zero rating
Reverse charge rules, including imports and movements from other GCC VAT implementing rules – more details to be provided in Executive Regulation
The right to recover input VAT, including import VAT incurred on goods subsequently moved to UAE (onward supply relief)
Credit notes and bad debts
VAT invoice requirements, FX treatment and requirements for date of issuance
Tax credits, carry forwards and when refunds may be made
VAT recovery for non-resident businesses and consumers
Penalties
This course covers
1. Overview of VAT
2. Registration
3. Place of Supply
4. Date of Supply
5. Valuation
6. Input Tax
7. Capital Asset Scheme
8. Import and taxability under Reverse Charge
9. Exempt and zero-rated Supply
10. Export
11. Impact on Designated Zones
12. Records
13. VAT Returns and Payment of VAT
14. Offences and Penalties
Who this course is for
Aspirants who want to make their career in Finance in UAE
Accountants who want to excel in VAT in UAE
https://www.udemy.com/course/vat-value-added-tax-for-uae/