| Published | 2022-05-16 |
| Platform | Udemy |
| Price | $29.99 |
| Instructors |
Kaushlam IRS Accountant Solutions Pvt Ltd
|
| Subjects |
This course Covers all VAT Essential Knowledge Complete UAE VAT course
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