Fundamentals of VAT: Input Tax
VAT is an essential part of any business. Finance staff need to make decisions regarding the VAT treatment of transactions on a daily basis and if they get it wrong, it could potentially have a huge cash flow impact for the business. Training is one of the simplest and most effective methods to prevent this outflow of cash.
The Fundamentals of VAT sessions will ensure that you have a thorough understanding of the key VAT principles, including areas where the most common mistake happens. It will also give you the opportunity to discuss and clarify your understanding of the VAT treatment of typical day-to-day transactions.
At the Deloitte School of Tax & Legal, we aim to find a good balance between theory and practical application. The sessions are therefore example-focused and the course material will include additional examples of practical, day-to-day transactions that a debtor’s and creditor’s clerk would encounter.
The webinar will contribute to 2 hours CPD/CPE.
R632.50 (inclusive of VAT) / R550.00 (exclusive of VAT)
Fundamentals of VAT: Ouput Tax
- Basic introduction to VAT:
- The basic VAT calculation
- Registration as a VAT vendor
- Invoice vs payment basis of accounting for VAT
- Overview of types of supplies
- Overview of when a vendor is liable for VAT (including the definitions of ‘enterprise’, ‘supply’, ‘goods’ & ‘services’)
- Consideration and value of a supply (including the VAT treatment of donations and deposits)
- Value & time of supply
- Overview of zero- rated and exempt supplies
- Deeming provisions, including:
- Fringe benefits
- Indemnity payments
- Debit and credit notes
- Other output tax adjustments
We work through many practical, day-to-day transactions that a debtor’s clerk would encounter, and will apply VAT principles covered to each transaction.
The webinar will contribute to 2 hours CPD/CPE.
R632.50 (inclusive of VAT) / R550 (exclusive of VAT)
VAT affects all financial transactions of a business and a good understanding of VAT principles is essential.
This practical online training course will ensure that you have a thorough understanding of the fundamentals of VAT, including areas where the most common mistakes happen. It also includes the latest information and legislation to ensure that you are up to speed with the most recent amendments.
The flexibility and convenience of this online training will allow you to complete the course in your own time, at your own pace and from anywhere.
The course is broken down into six sessions. Each session is followed by a short assessment to test the knowledge gained.
After successfully completing the course, you will receive a certificate of completion (3.75 CPD/CPE hours).
The Advanced VAT Topics online course has been designed for participants with a fair understanding of the basics of VAT and who want to gain a deeper understanding of more advanced VAT principles such as (but not limited to):
- The VAT treatment of agent / principal transactions;
- The sale of a going concern;
- Change in use adjustments;
- Leasehold improvements; and
- Zero-rating of services supplied to a non-resident.
This course is a great follow up to our VAT Back to Basics online course.
That course is broken down into 6 sessions. Each session is followed by a short quiz to test the knowledge gained.
After successfully completing the course, you will receive a certificate of completion (3 CPD/CPE hours).
Whether you are a corporate decision maker, a financial or tax manager, a small business owner, a debtors or creditors clerk, or a financial professional wanting to refresh your VAT knowledge – you will benefit greatly from this “VAT bootcamp”.
This bootcamp will ensure that you have a thorough understanding of the key VAT principles, including areas where the most common mistakes happen. It also includes the latest information and legislation to ensure that you are up to speed with the most recent amendments.
The workshop is practical and example-focused and includes as many examples as possible of practical, day-to-day transactions and decisions that a VAT vendor would encounter and will apply the VAT principles applicable to each transaction.
The course material will include electronic course notes and practical case studies as references to apply to the types of scenarios you encounter when back at the office.
After successfully completing the webinar series, you will receive a certificate of completion (7 CPD/CPE hours).
A poor understanding of VAT principles of Input Tax could mean that you are losing money by under-claiming input tax. Conversely, over-claiming input tax or claiming input tax without adhering to the documentary requirements can lead to costly penalties and interest which could easily be prevented.
It is therefore critical to have a clear understanding of the key principles outlined in the VAT Act and how to apply these rules to the day-to-day transactions of your business.
This webinar recording ensures that you have a thorough understanding of the fundamentals of Input Tax, focusing particularly on some of the more common mistakes or areas of misunderstanding we see being made in practice.
Course material includes electronic notes (pdf slide deck) and a practical case study as reference material for you to make use of as a reference when performing your work tasks.
The webinar will contribute to 2 hours CPD/CPE