The Unified Agreement for VAT of the GCC, sets out the framework under which VAT can be implemented in each of the GCC member states. The framework includes agreement on certain matters and in addition, requires member states to mandatory implement local legislation whilst allowing discretion on how to handle other related issues.
The framework allows for a basic rate of VAT on supplies of goods and services of 5%, as well as allowing such supplies to be zero-rated or VAT exempt depending ultimately on the domestic legislation of each country
GCC VAT Training will cover the following Modules
• E-Business Tax
• Procure to Pay – Purchasing, Payables, Inventory
• Order to Cash – Order Management, Receivables, Inventory
• Property Manager
• Project Accounting
• General Ledger
• Tax Reporting, including VAT Statutory Returns & Control Reports
Scenarios Coverage
ORDER TO CASH
• Within Member State
• Among Other Member State within GCC
• Outside GCC
PROCURE TO PAY
• Within Member State
• Among Other Member State within GCC
• Outside GCC
• Estimated Taxes Vs Actual Taxes
• Registered Vs Non Registered Party (Vendor / Customer)
Property Manager
• Revenue Leases
• Expense Leases
• Tax applicability on running leases
• Tax impact on Termination of Lease
• One time Configuration changes for New Leases
• Commercial Vs. Residential leases
Group Companies
VAT Group
Training Details
• Training mode will be online
• Training Duration will be 4 weeks with 2.5 hours of session (Friday/Saturday)
• Cost: INR 25000/AED 1500/USD 415