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(4.0/ 5) 5 Reviews
Value Added Tax is an indirect tax levied on all goods and services that are bought and sold by businesses, with some exceptions. The value-added tax is currently applied in more than 160 countries around the world, as it is a primary source of income that contributes to strengthening the budgets of those countries. The Kingdom committed to implementing a value-added tax at 5% starting from January 1, 2018, and during the first of July 2020, the decision to raise the value-added tax rate to 15% was implemented on all goods and services subject to it. The training program covers the basic concepts of VAT and the types of people who must be registered in VAT, as well as taxable and non-taxable supplies in the KSA and the mechanism for calculating the tax due and preparing tax returns.
(4.0/ 5)
5 Learner Rating
Value Added Tax is an indirect tax levied on all goods and services that are bought and sold by businesses, with some exceptions. The value-added tax is currently applied in more than 160 countries around the world, as it is a primary source of income that contributes to strengthening the budgets of those countries. The Kingdom committed to implementing a value-added tax at 5% starting from January 1, 2018, and during the first of July 2020, the decision to raise the value-added tax rate to 15% was implemented on all goods and services subject to it. The training program covers the basic concepts of VAT and the types of people who must be registered in VAT, as well as taxable and non-taxable supplies in the KSA and the mechanism for calculating the tax due and preparing tax returns.
Banking
Capital Market
Insurance
Financing
Not Exist
Lecture
Case Studies +2
Lecture
Case Studies
Practical Implementation
Exercises and assignments
Pre Assessment
Post Assessment
Procurement
Finance
Clearing, Reconciliation ...
Sales and Distribution / ...
+2Procurement
Finance
Clearing, Reconciliation and Settlements
Sales and Distribution / Intermediaries
Collection and Recovery
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This provides you with the opportunity to select the available times that suit you best for participation in our program. These times represent slots during which we are ready to welcome you and provide assistance and guidance.
Self Learning
Module 1: Basic Concepts of Value Added Tax
Module 2: Persons to be Registered for VAT
Module 3: Taxable Supplies in the KSA
Module 4: Supply Activities
Module 5: Exempt Supplies and 0% Supplies
Module 6: The Value of Taxable Supplies
Module 7: Calculation of the Tax due
Module 8: Tax Returns
Having a strong understanding of what value added tax to track its impact on supply chain.
Knowledge of the taxable supplies to determine which transactions do not fall under the VAT.
Know the types of real estate activities (residential, commercial) to distinguish taxable and non-taxable activities.
Training in dealing with the requirements of issuing invoices to know how to calculate the tax due and dealing with the tax return and submitting it.
Study and understand the penalties associated with tax handling errors in order to prevent non-compliance and, and therefore take steps to object to decisions of the Zakat and Income Authority in the correct manner.
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