Value Added Tax (Vat) - Implementation In Saudi Arabia/ Gulf

General Concepts, Operations, Implementation and Accounting of VAT

What you'll learn
Learn Concept and Principles of VAT
Know its implication in Saudi Arabia and gulf
What is subject to standard rate, zero rate or exempt.
How to handle Export and Imports
How to do VAT Accounting for VAT Payable/ Receivable/ Neutral
How to handle discounts and adjustments
How to fill a VAT Return
Requirements
Degree or Diploma in Accounting/ Tax
Description
Tax Accountant are in high demand now in the Gulf as GCC is implementing VAT. This course helps the Accountants and the stakeholders to understand VAT Concepts and Operations and it provide guidance on VAT Accounting.
Value Added Tax is already implemented in most parts of the world and now it is Gulf's turn. So, in Gulf pre-implementation work has been completed and from January 01, 2018 all the registered business have started charging VAT on supplies of Goods and Services with in Saudi Arabia.
As the member states in GCC are negotiating to treat GCC on Single Territory Concept, the concept and rules are same in all states with minor exceptions hence this course will help prepare all the accountants and administrators in the Gulf for this implementation process. 
After this course they will be equipped to respond to this implementation challenge and will lead their organization in the whole process as well as train their team to get best output and achieve organizational goals.

Overview

Section 1: Introduction & VAT Concept

Lecture 1 Introduction

Lecture 2 What is VAT

Lecture 3 Introductions to Parties to VAT System

Lecture 4 Introduction to Registration With GAZT

Lecture 5 Introduction to VAT Flow

Lecture 6 Introduction to VAT Rates

Lecture 7 Revision of last 6 Lectures/ Introduction & VAT Concept

Lecture 8 VAT in the World

Lecture 9 Scope of VAT

Lecture 10 Claiming Input VAT

Lecture 11 TAX on End Consumer?

Lecture 12 Implementation Challenges

Lecture 13 Revision of Lecture 8-12/ VAT - Scope & Operations

Section 2: VAT in International Trade and Special Items

Lecture 14 VAT Impact on Types of Trades

Lecture 15 Reverse Charge Mechanism (RCM)

Lecture 16 VAT on Imports

Lecture 17 VAT and Different Exports

Lecture 18 Illustration: VAT & International Trade

Lecture 19 Revision: VAT - International Trade.

Lecture 20 Real Estates and Construction

Lecture 21 Restricted Vehicles

Lecture 22 Entertainment

Lecture 23 Catering Services

Lecture 24 Grand Fathering

Lecture 25 Discounts

Lecture 26 Revision: VAT - Special Items

Section 3: VAT Accounting and VAT Return

Lecture 27 Accounting Information

Lecture 28 Invoicing

Lecture 29 Simplified Invoicing

Lecture 30 Accounting Ledgers

Lecture 31 Control Account

Lecture 32 Revision: VAT Accounting

Lecture 33 Filing Return

Lecture 34 Return Form

Lecture 35 Deadlines: Filling and Payment

Lecture 36 Penalties

Lecture 37 Revision: VAT Return

Lecture 38 Goodbye

This course is for Accountants, Consultants and Administrators who manage VAT or going to manage it soon.