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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.
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
Clearing, Reconciliation and Settlements
Collection and Recovery +4
Clearing, Reconciliation and Settlements
Collection and Recovery
Finance
Legal
Procurement
Sales and Distribution / Intermediaries
Not Exist
Lecture
Case Studies +2
Lecture
Case Studies
Practical Implementation
Exercises and assignments
Pre Exam
Post Exam
Purchase Program
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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.
In Class Training-Online Training
The importance of tax to support the state's public finances
Supply chain and value-added application method
Tax identification number
Tax period
Extension of time to pay tax
In Class Training-Online Training
Taxable Persons Required to Register
Mandatory registration for non-residents of the Kingdom
Optional registration
Tax group registration
In Class Training-Online Training
Supposed supply
Transfer of owned goods to another member state
Transactions that do not fall within the scope of the tax - transfer of economic activity
Supplies made by a legal person for himself
In Class Training-Online Training
Taxable supplier and customer
Real estate related services
Telecommunications and electronic services
Goods sold with transportation
Proof requirements for internal supplies
In Class Training-Online Training
In Class Training-Online Training
Associated people
The value of specific taxable supplies, the assumed supply
Adjusting the value of the supply
Limiting supplies at fair market value
In Class Training-Online Training
Accounting on the cash basis
Input tax deduction
Input tax proportional deduction
Capital assets
Credit and debit notes
Tax invoices
In Class Training-Online Training
Components of the tax return and how to fill out the tax return form
Tax return filing deadlines
Correction of declarations
Examination and evaluation procedures
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.
