Value Added Tax (VAT): Awareness, Preparation & Application

Value Added Tax (VAT) charged on goods and services, is applicable and common throughout the world. Currently, approximately 145 countries in the world have implemented VAT. The Organization for Economic Cooperation and Development (OECD) stated that “the application of Value Added Tax has been the most important development in taxation over the last 50 years”.

Since VAT might have a significant financial impact on businesses, regardless of the location or industry type, it is important to have a good un ­der ­standing of VAT in order to avoid any unnecessary costs. As a result, it is mandatory for all the industries to have the relative information about VAT.

The training course is designed to cover the principles of the VAT, and its impact on individuals and businesses. Participants will be provided with knowledge that can be shared amongst their own colleagues, and with other departments. The awareness and understanding of VAT will enable delegates to have required information to deal with it.

The important features of the VAT Awareness training course are:

• Immediate use of the tools and techniques of financial analysis and financial management that will be acquired.
• Becoming better informed and using new financial skills that will help improve management decision-making.
• Communication of the various financial tools that are available to help the organization enhance its competitive positioning and profitability and improve the all-important cash flow.

This training course will enable participants to understand the importance of managing Value Added Tax (VAT) transactions and balances. VAT management is not rocket science, but problems can be avoided with a proper registration and control process in place. This course will cover real-world examples of VAT management, as well as:

• Define Value-Added- Tax (VAT) and discover how VAT works
• Identify the risks of improper VAT management.
• Recognize how to plan your VAT balance
• Examples of how to record VAT
• Potential red flags around VAT treatment
• Tips on audit compliance

The Value Added Tax training course is suitable for:

•  All professionals working in accounts or finance who want to gain a clear insight into the impact and mechanics of VAT.
• Those who are preparing for the transformation of their business as VAT is introduced

This training course provides a theoretical background to key areas of VAT that are put into a real-world context. This practical and results-oriented VAT training course is based on adult learning concept. It incorporates short inspiring lectures with structured lessons from the learning manual; captivating PowerPoint slides with videos to enhance learning; ongoing discussions with action planning; ample time for Q&A; training activities to reinforce key concepts within a fun learning environment.

Pre & Post course assessments will be used to measure the effectiveness of this training.