This course provides a focused understanding of VAT rules for UAE designated zones, including out-of-scope transactions, zero-rated exports, import implications, and compliance requirements. Participants will learn to manage VAT complexities, ensuring proper documentation and adherence to regulations.
Course Module Overview:
Designated Zones and VAT Implications:
- The definition and treatment of designated zones under UAE VAT law.
- Conditions for transactions within and between designated zones to remain outside the scope of VAT.
Export and Import Rules:
- Zero-rating of direct and indirect exports, and the documentation required for compliance.
- VAT treatment for imports, including scenarios involving customs suspension and designated zones.
Supply and Consumption in Designated Zones:
- Scenarios where supplies within designated zones are taxable.
- Differentiating between consumption, incorporation into goods, and production processes in VAT treatment.
Administrative and Compliance Requirements:
- Record-keeping obligations, including agreements between agents and principals.
- Penalties for non-compliance with VAT rules in designated zones.
Special VAT Scenarios:
- Treatment of real estate transactions, goods sold under specific incoterms (e.g., DDP or Ex-works), and agent-based import transactions.
- VAT recovery rules for designated zone companies engaged in mixed supplies.
Participants will gain a thorough understanding of VAT implications in designated zones, including export/import rules, taxable supplies, and compliance requirements. They will also learn about special VAT scenarios and recovery rules for companies in designated zones.
About the Trainer
CA. Rajiv Hira
A practicing Chartered Accountant, with an experience of leading roles in private and multinational financial institutions for over 20 years. Extensive expertise in strategic and tax advisory, ERM (Enterprise Risk Management) implementation, process design - review across credit risk & operational risk, audit function and regulatory engagement.
Expertise in connecting with people and processes to arrive at the effective value preposition for business, derived from hands-on experience of working in multicultural and multinational organizations. Experience of working in Asia, Africa & Middle East.
Hands-on experience in engaging with regulators and governing bodies in the space of Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF). This work involves understanding the strategic intent and implementation objectives for compliance.
