Open Courses

Accounting for Value Added Tax (VAT) in GCC



The introduction of a Value Added Tax (VAT) in GCC countries has led to a requirement for companies to upgrade the skills of their accounting staff to fully understand and properly account for the VAT. This course will enable delegates to understand VAT and apply it in a practical manner.

This course will cover the principles, techniques and skills involved in the systems required for VAT, its accounting and reporting to the authorities.

This course will take an approach, which will have relevance and focus whether you are in the early stages of the implementation of VAT or are in the process of preparing for its introduction in the future.

Who should attend

This practical course is designed for Finance Directors, Heads of Finance, Accounts Managers, Accountants, Auditors and all those who are responsible for finance and accounting functions in their organisations.


Understanding Taxation Systems

  • An overview of VAT and its reasons for introduction
  • The scope of VAT
  • Different types of supply
  • Interpreting types of VAT - Standard, zero rated, exempt, out of scope
  • Output VAT: Invoices, cash v credit sales and accounting for output VAT
  • Input VAT: Purchase invoices, cash purchases, expenses, accounting for input VAT

Accounting for VAT

  • Understanding the registration process
  • Mandatory registration and voluntary registration
  • Producing a VAT invoice
  • VAT accounting and calculating VAT
  • Accounting for input and output VAT
  • Operating a VAT control account
  • Producing and submitting VAT returns
  • Trial Balance accounts for VAT returns
  • VAT penalties, objections and appeals

VAT management and operations

  • Managing Output VAT - Credit notes and discounts to customers, sales on consignment, returned goods, deposits, bad debts, sales of fixed assets, and contracts
  • Managing Input VAT - Credit notes from suppliers, discounts from suppliers, purchases of fixed assets, VAT on leases and contracts

Regionally specific VAT issues

  • Accounting for purchase and sale of goods and services:
    • Within the GCC
    • Outside the GCC
  • Reverse charge
  • Electronically supplied services in the GCC
  • Free trade zones

Special VAT issues

  • Transfer of business
  • VAT on residential and commercial buildings
  • Partially exempt businesses
  • VAT grouping
  • Transitional issues

At the end of this course, delegates will be able to:

  • Understand different taxation systems and their scope
  • Account for and calculate VAT
  • Produce and submit VAT returns
  • Understand VAT penalties, objections and appeals
  • Manage Input VAT and all related processes and procedures
  • Manage Output VAT and all related processes and procedures
  • Account for purchase and sale of goods and services within the GCC
  • Understand a variety of additional VAT related issues

VAT: Courses held in London are subject to VAT at the current rate