The Value Added Tax or VAT, broadly based consumption tax assessed on the value added to goods and services. It applies more or less to all goods and services that are bought and sold for use. Thus, goods which are sold for export or services which are sold to customers abroad are normally not subject to VAT.
Generally, each such trader in the chain of supply from manufacturer through to retailer charges VAT on his or her sales and is entitled to deduct from this amount the VAT paid on his or her purchases. AGX auditors launches VAT Training in umm al quain. VAT course enables controllers, accounting and tax professionals to understand the importance of managing Value-Added-Tax (VAT) transactions and balances.
Key Benefits with AGX auditors
• Define Value-Added- Tax (VAT) and discover how VAT works.
• Identify the risks behind improper VAT management.
• VAT is based on value added not on total price. So, price does not increases as a result of VAT.
• VAT is simple to administer as compared to other indirect tax.
• Recognize how to plan your VAT balance
• Revise and improve your own VAT registration process