VAT or “value added tax” is charged on goods and services purchased by relocation companies and their clients. Many believe that VAT is applicable only in Europe when in fact this tax is common in UAE. VAT is also applicable in Fujairah.VAT may have a significant financial impact on your business, regardless of its location or whether you are the client or service provider, it is important that managers in the relocation industry have a good understanding of what VAT is in order to avoid any unnecessary costs
AGX auditors training will enable controllers, accounting and tax professionals to understand the importance of managing Value-Added- Tax (VAT) transactions and balances. VAT management is not rocket science, but headaches can be avoided with a proper registration and control process in place. This course will cover real-world examples of VAT management, as well as:
• Define Value-Added- Tax (VAT) and discover how VAT works.
• Identify the risks behind improper VAT management.
• Recognize how to plan your VAT balance.
• Examples of how to record VAT.
• Potential red flags around VAT treatment.
• Tips on audit compliance.