Vatinuae Course

Introduction- What is VAT? Preview 04:52

VAT Legislation Preview 09:13

We talk about the framework of VAT from a legislative perspective to ensure you understand the source of the rules and where it derives from. Who is responsible for issuing VAT policy and the main bodies.

VAT Registration Preview 07:43

Here you will learn about the VAT registration thresholds, how it is breached and who is liable to register.

Output Tax Preview 01:51

We discuss here about what output tax is and its meaning under the law. The importance of it from a supplier's perspective and their responsibility.

Input VAT Preview 19:25

This is complex topic but very important for businesses to understand as it means money in. What qualifies as input tax is covered, when it can be recovered and things to look out for when it can't always be recovered by a business.

Taxable Supplies Preview 06:11

The meaning of a supply for VAT purposes. Its components and when a supply is not considered a supply for VAT.

VAT rates Preview 05:20

An outline of the different VAT rates in the UAE and what sectors fall into which under the Law.

Time of Supply Preview 16:38

Absolutely crucial for VAT accounting and VAT compliance purposes. The rules are not straightforward and the Tax point can be impacted by several factors and overridden by certain events under the Law. Getting this wrong could mean penalties from the FTA.

VAT in supply chains Preview 09:36

We finally bring to life of how VAT works in practice with worked examples in simple case studies. Guaranteed to bring you the walah! moment.

Place of Supply Preview 14:01

Another complex topic often causing errors. This is vital to determining which country's laws should apply and therefore the rate of VAT and whether chargeable from a Bahrain perspective.

Imports Preview 17:03

The process of importation is presented and what is means from a VAT perspective. When is VAT chargeable, how is it charged and the calculation method. Certain reliefs are also covered and important points to consider.

Designated Zones Preview 22:38

Highly important for when dealing with imports as it is more than likely going to come through a  designated zone (freezone). There are also special reliefs for designation zone transactions but they have to be precise. We talk through what these rules are and the VAT liability on specific supplies.

Reverse Charge Preview 04:56

Probably the most asked about question and which students and VAT practitioners find difficult to get their heads around. It links with imports well and should always be a thought when dealing with cross-boarder imports. Understand how this important concept works and  when it can be applied to domestic supplies.

Registration Preview 08:50

VAT Grouping Preview 10:36

An important VAT mitigation tool by groups of related companies. We cover the conditions for Tax grouping its benefits and how it works in practice.

Real Estate Preview 18:54

Real Estate has its own quirky and unique rules so we go in depth for those who have an interest in the real estate sector. For those with limited exposure you can get a  flavour and at least an awareness in case you come across simple property related issues.

Financial Services Preview 12:02

This is the most sought after skill within VAT- knowing the financial services industry. Not only is it complex in itself but the VAT liability can flip between exempt or standard-rated over small details. It also impacts the FS providers VAT recoverability ability and special calcs are required. We highlight products, their VAT ratings and how to deal with it.

Partial Exemption Preview 09:07

For any business making exempt supplies the Partial Exemption topic is highly important. Knowledge of this ensures you are compliant performing the right calcs at the right time and also being efficient with it to get maximum VAT back.

Agents Preview 13:50

Not always straightforward being a middle man in VAT and understanding the role an agent is playing is essential to getting the right VAT result. We also deal with common issues relating to agents and VAT.

VAT Records Preview 17:51

What are the compliance obligations for a tax payer and Invoicing requirements. We break these down to show you how to say on the right side of the law and comply with the expectation of the FTA on all VAT registered business to ensure a smooth audit.

Transitional rules Preview 10:57

The special interim rules for the unique introduction phase of VAT in the UAE is highlighted here. Know how to deal with the complex situations that arise from the cross-over periods.

VAT Margin Schemes Preview 23:07

The complex rules around second hand traders and VAT recording are picked apart. This differs a great deal from normal VAT accounting for businesses but the benefits can be large if adopted for profitability and done properly.

VAT return Process Preview 28:49

A Guide on how to complete a VAT return proper;y and accurately. We go through the various sections and things to watch out for and what sections to use?