Study Guide

Objective

You will able to understand
- the main principles of VAT and the key issues of the legislation
- how to register or apply for registration in the VAT register
- calculate the amount of VAT payable, deductible and accounted for and complete a VAT return

Content

- What is VAT
- Exemptions from the general tax liability for VAT
- Taxable and exempt sales
- Handling of purchase invoices - right of deduction and limitations
- Temporal allocation
- Invoice endorsement requirements
- Own use of goods and services
- Marginal taxation and travel agency services
- VAT on international trade
- Declaration and payment of VAT

Evaluation scale

H-5