Event Details
This session is designed for individuals, staff and financial management that are required to calculate and submit VAT returns for a business and have no or very little understanding/ knowledge of how to charge VAT on sales (taxable supplies) and expenses that can be claimed (input tax credits). This session provides much needed insight on the VAT to be charged and input tax credits that can be claimed, and under which circumstances.
Content Discussed:
- Exempt Supplies
- NGO's, PGO's and WO's
- Agent vs Principle
- Company Cross Charges
- Recovery in the form of a management fee
- Recovery in the form of a cost recovery fee
- Recovery of disbursements
- Input tax credits specifically denied
- Entertainment exceptions
- Motorcar exceptions
- Notional input tax
- Second hand goods
- Tax invoices, Debit notes & credit notes
- Electronic Invoices
- Reimbursements and corporate credit cards
- Day to day adjustments for example discounts
- Exports – Direct and Indirect
- Imports – Value and time of supply
Certificate of 3 CPD hours issued on completion of course.
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