VAT Introductory Course (M21015.1)

Basic VAT principles (determination of when VAT is to be charged and why)

This session will cover the basic concepts based upon which the appropriate VAT treatment can be determined including:

• Groups of supplies
• How to arrive at the appropriate VAT treatment
• Taxable Person
• Supplies of Goods and Services
• Place of Supply
• Exemptions and VAT Rates
• Person Liable for the Payment of VAT (including the Reverse Charge Mechanism)

VAT Rights and Duties (VAT Registration types, right of refund, time and value of supply)

This session will cover the VAT rights and duties which need to be fulfilled including:

• VAT Registrations (Articles 10, 11, 12 and VAT Grouping)
• VAT Documentation (invoices, fiscal receipts, records)
• Right of Refund (who is to claim what including partial attribution)
• Taxable Value (How to arrive at the 100%)
• Tax Point (when to declare a transaction in the VAT Return)
• Penalties and Interest

VAT Compliance Obligations

This session will cover the compilation of the main VAT forms going into detail of which transactions are to be declared in which box/field and when including:

• VAT Return
• Form 04
• Form 05
• Recapitulative Statement
• VAT Return Adjustment/Correction Form
• Intrastat Forms