Understanding the bottom line and the basic principles that govern VAT.
• Becoming liable and registering as a VAT vendor:
o What is an enterprise?
o When does VAT registration become compulsory?
o How does one determine the value of your taxable supplies for registration requirements?
o What happens when you cease to be a vendor?
• The driving force behind output VAT:
o What is a supply?
o When would output VAT have to be charged?
o What is the value on which output VAT will be based?
o When may vendors claim input taxes, and when would it be denied?
• Knowing your supplies: Distinguish between standard-rated, zero-rated, and exempt supplies
• Knowing your VAT periods and accounting basis
• VAT invoices, quotes, and other related documents
• Navigating the eFiling system as a VAT vendor and completing the VAT201 return.
Accountants and Auditors with limited prior exposure to VAT.
