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Value Added Tax (VAT) - Implementation in Saudi Arabia/ Gulf
Rating: 4.4 out of 5(158 ratings)
373 students

Value Added Tax (VAT) - Implementation in Saudi Arabia/ Gulf

General Concepts, Operations, Implementation and Accounting of VAT
Created byHafiz Mehmood
Last updated 2/2018
English

What you'll learn

  • Learn Concept and Principles of VAT
  • Know its implication in Saudi Arabia and gulf
  • What is subject to standard rate, zero rate or exempt.
  • How to handle Export and Imports
  • How to do VAT Accounting for VAT Payable/ Receivable/ Neutral
  • How to handle discounts and adjustments
  • How to fill a VAT Return

Course content

3 sections • 38 lectures • 6h 31m total length

  • Introduction4:59

    This lecture is for Introduction of VAT

  • What is VAT10:35

    A Detail of What is VAT..

  • Introductions to Parties to VAT System8:52

    An introduction to the Parties to the VAT System

  • Introduction to Registration With GAZT11:56

    Introduction to Regulations for Registration and Deregistration

  • Introduction to VAT Flow9:00

    This is a brief introduction of the VAT Flow

  • Introduction to VAT Rates10:26

    This is the Introduction to VAT Rates implemented in the Gulf.

  • Revision of last 6 Lectures/ Introduction & VAT Concept39:27

    This lecture elaborates the concept of VAT. At the end of the lecture, students will able to recognize:

    1- What is VAT and how it works?

    2- Who has to register for VAT?

    3- What is Input Tax and Output Tax?

    4- Who ultimately bears the burden of Tax? 

    5- How the details of Input & Output Tax are submitted to GAZT?


  • Questions - Lecture 1-6
  • VAT in the World3:50

    This lecture discusses if VAT is already being practiced in the world.

  • Scope of VAT10:24

    This lecture discusses what is in the scope of VAT and what is not.

  • Claiming Input VAT11:04

    Here we will discuss who can claim input VAT and who cannot claim.

  • TAX on End Consumer?10:04

    With an illustration, we will try to understand how the ultimate burden is on the End-Consumer

  • Implementation Challenges11:30

    Now we will learn how different department have these new challenges to respond to VAT.

  • Revision of Lecture 8-12/ VAT - Scope & Operations34:51

    This lecture elaborated the Scope and operations of VAT. At the end of the lecture, students will be able to answer:

    1- Which supplies are Taxable?

    2- What are Zero-rated and Exempt Supplies?

    3- The extent of the exemption on specific supplies.

    4- Which businesses can claim the Input Taxes paid on their purchases. 


  • Quiz for Lecture 8-12
  • Enlist all supplies under exempt and zero-rated

Requirements

  • Degree or Diploma in Accounting/ Tax

Description

Tax Accountant are in high demand now in the Gulf as GCC is implementing VAT. This course helps the Accountants and the stakeholders to understand VAT Concepts and Operations and it provide guidance on VAT Accounting.

Value Added Tax is already implemented in most parts of the world and now it is Gulf's turn. So, in Gulf pre-implementation work has been completed and from January 01, 2018 all the registered business have started charging VAT on supplies of Goods and Services with in Saudi Arabia.

As the member states in GCC are negotiating to treat GCC on Single Territory Concept, the concept and rules are same in all states with minor exceptions hence this course will help prepare all the accountants and administrators in the Gulf for this implementation process. 

After this course they will be equipped to respond to this implementation challenge and will lead their organization in the whole process as well as train their team to get best output and achieve organizational goals.

Who this course is for:

  • This course is for Accountants, Consultants and Administrators who manage VAT or going to manage it soon.

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