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Schedules Introduction Objectives Training Methodology Who Should Attend? Outline
Course Schedule

We currently have no scheduled session for this Course. If you are interested in running this course, please contact our Training Department at info@glomacs.com

Course Description

Introduction

This specially-designed VAT online training course examines the rules and regulations of VAT and clearly demonstrates the procedures and controls that should be in place to ensure VAT returns are submitted accurately and on time. This GLOMACS online training course will give you a complete understanding of VAT, covering all the essentials topics and giving you the confidence to know if you are dealing with VAT correctly. It will also help you develop your plan to successfully implement and maintain compliant VAT processes in your company.

Participants attending the GLOMACS VAT Framework online training course will develop the following competencies:

  • Gain an overview of VAT’s introduction in KSA
  • Discover the obligations and implications of the VAT legislation for KSA businesses
  • Understand the principals of VAT
  • Learn how to align finance processes and controls to ensure and maintain compliance 

Objectives

As a result of attending the GLOMACS VAT in KSA online training course, the participants will be able to: 

  • Develop a better understanding of how VAT applies through the supply chain
  • Know how to account for VAT
  • Understand how to avoid VAT becoming a cost to your business
  • Appreciate the impact of VAT across all your business units
  • Have a roadmap on how to prepare your business for VAT

Training Methodology

This online training course will utilize a variety of proven online learning techniques to ensure maximum understanding, comprehension, retention of the information presented. The training course is conducted Online via an Advanced Virtual Learning Platform in the comfort of any location of your choice.

Who Should Attend?

This GLOMACS online training course will benefit CFO’s, Finance Managers, Internal Auditors, Accountants, IT Managers, Procurement Managers, Managers of Accounts Payable or Accounts Receivable Departments, as well as Finance Professionals interested in developing their understanding of this new legislation.

The VAT in KSA online training will equally appeal to employees in the private, public and not-for-profit sectors.

Course Outline

DAY 1

Introduction to VAT & Compliance

  • Meaning of VAT
  • The new legislation
  • Deadlines for compliance
  • Risks of non-compliance
  • Understand the concept of VAT and its impact on the economy
  • Understand the VAT registration process and prepare required documents for VAT registration

DAY 2

VAT Implementation & its Effects on Business Processes

  • Pre-requisites & Preparation for businesses before VAT implementation
  • Differentiate Accounting methods concerning VAT
  • Calculate Input VAT and Output VAT
  • Categorize the supplies for VAT calculation
  • VAT Challenges - Internal Vs External
  • VAT Mitigation Strategies
  • Cash Flow and VAT

DAY 3

VAT Management & Beyond

  • Understand the impact of VAT on the Imports and Exports to the member countries (GCC) and non-member countries (rest of the world)
  • Understand the impact of VAT on the operational and the financial performance of the business
  • Preparation of the invoices including VAT and returns
  • Understand VAT administration, fines and penalties related to VAT filing
  • Industry-specific considerations
  • Identify common errors in VAT calculation
Certificates
  • On successful completion of this online training course, GLOMACS E-Certificate with eligible Continuing Professional Education credits (CPE) from National Registry of CPE Sponsor, will be awarded to the delegates
  • Continuing Professional Education (CPE) credits : In accordance with the standards of the National Registry of CPE Sponsor, one CPE credit is granted per 50 minutes of attendance
Providers and Associations

Endorsed Education Provider

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© 2022. Material published by GLOMACS shown here is copyrighted.

All rights reserved. Any unauthorized copying, distribution, use, dissemination, downloading, storing (in any medium), transmission, reproduction or reliance in whole or any part of this course outline is prohibited and will constitute an infringement of copyright.


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