VAT Crash Course

• Are you responsible for preparing and reviewing VAT returns? How do you ensure VAT data accuracy?
• How do you prevent relevant amounts from being overlooked when determining the correct tax base?
• Do you struggle to identify and correctly apply VAT exceptions and exemptions?

In this practical crash course, you’ll become a VAT expert.

After completing this course, you’ll be able to resolve VAT questions and issues smoothly. You’ll know when VAT must be included on an invoice and when it’s exempt. You’ll also understand:

• Who is considered a taxable person?
• What are taxable transactions?
• Where do the transactions occur?
• Are there applicable exemptions?
• Who is responsible for paying VAT to the Treasury?

VAT is an essential concept for every business. Unfortunately, the rules aren't always straightforward. In this course, you’ll receive a practical explanation of the basic VAT rules. With the right knowledge and insights, you’ll be able to apply them easily in your own business.

• Administrative staff involved in accounting tasks
• Assistant accountants
• Accountants

Basic accounting knowledge

• Introduction
• Taxable person
• Taxable transactions
• Rules for determining location
• Exemptions
  • Exemptions with right to deduct
  • Exemptions without right to deduct
• VAT payment
• Tax base
• VAT rates
• Right to deduct
• VAT adjustments
• VAT refund
• Formal obligations
• Applications

This course qualifies as continuing education:

• 12 hours with ITAA
• 12 hours with IBR