B-FIN502

Value Added Tax Awareness

Course Description

VAT or “value added tax” is charged on goods and services purchased by relocation companies and their clients. Many believe that VAT is applicable only in Europe when in fact this tax is common throughout the world. Currently, approximately 145 countries in the world have implemented a VAT, and the OECD has been known to say that “the spread of Value Added Tax has been the most important development in taxation over the last half-century”. Because VAT may have a significant financial impact on your business, regardless of its location or whether you are the client or service provider, it is important that managers in the relocation industry have a good un­der­standing of what VAT is in order to avoid any unnecessary costs. As a result, it is mandatory for all countries, all the industries to have the relative information about VAT.

Target Audience

This course will enable controllers, accounting and tax professionals to understand the importance of managing Value-Added-Tax (VAT) transactions and balances.

Learning Objectives

Participants will be provided with knowledge that can be shared amongst their own colleagues, and with other departments. The awareness and understanding of VAT will enable delegates to have required information to deal with VAT. This will be achieved through:

• Immediate use of the tools and techniques of financial analysis and financial management that will be acquired.
• Becoming better-informed and using new financial skills that will help improve management decision-making.
• Communication of the various financial tools that are available to help the organization enhance its competitive positioning and profitability and improve the all-important cash flow.