The Value Added Tax (VAT) – The advanced level is your chance to master one of the most crucial pillars of the current tax administration. In a context where the tax legislation is evolving rapidly; acquiring a in-depth knowledge of VAT will put you at the forefront of the sector. This advanced course will provide you with the tools you need to understand and accurately apply aspects such as the common VAT system, the exemptions and the deductions. The demand for tax specialists is growing all the time, and with this course online, flexible and designed to suit your own pace, you’ll be able to become an expert in subjects such as taxable amount and the tax rates VAT. We invite you to be part of this educational experience that will enhance your skills and will expand your career prospects, opening doors in a competitive labour market and constantly growing.
Value Added Tax (VAT)
Corporate
35 hours
Introduction
Objectives
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Understanding the the nature and operation of the common VAT system.
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Identify the scope of application of VAT in various operations.
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To analyse the taxable event and their legal implications.
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Recognise the VAT exemptions in different cases.
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Determine the place where the taxable event occurs.
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Identify the taxable person and their tax obligations.
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Understanding the Accrual and chargeability of VAT in transactions.
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Calculate the taxable amount and apply the VAT rates.
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Manage deductions and refunds in VAT transactions.
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To comply with the formal obligations of the VAT taxable person.
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Assess the special schemes and his impact on VAT management.
Table of Contents
TEACHING UNIT 1. THE COMMON VAT SYSTEM: NATURE AND FUNCTIONING
The Nature of Value Added Tax (VAT)
Video tutorial: General overview of VAT
General overview of VAT
Main sources of VAT law
VAT and Directive 2006/112/EC (formerly the Sixth Directive)
Distinction from the concept of transfers of assets for consideration under the Tax on Transfers of Assets and Documented Legal Acts
TEACHING UNIT 2. SCOPE OF APPLICATION OF VALUE-ADDED TAX
The material scope of application: Tax liability and exemption
The territorial scope of VAT
TEACHING UNIT 3. VAT TAXABLE TRANSACTION
Introduction: The elements of the taxable event
Deliveries of goods
The self-consumption of goods
Provision of services
Intra-Community acquisitions
Imports
TEACHING UNIT 4. EXEMPTIONS FROM VALUE-ADDED TAX
General provisions
Exemptions applicable to certain activities in the public interest: health, education, social, cultural, sporting, financial and property-related activities
Exemptions relating to other activities
Technical exemptions
Exemptions relating to intra-Community transactions
Exemptions relating to the provision of services by intermediaries
Exemptions for transactions relating to the international trade in goods
Video tutorial: Overview of VAT exemptions
TEACHING UNIT 5. PLACE WHERE THE FORCE MAJEURE EVENT OCCURRED
Introduction: The application of general and special rules
Place where the chargeable event for supplies of goods occurs
Place where the chargeable event for the supply of services occurs
Place of tax liability for intra-Community acquisitions
Place where the chargeable event arises in respect of imports of goods
TEACHING UNIT 6. TAXABLE PERSON FOR VALUE-ADDED TAX PURPOSES
The taxable person and those liable for tax in domestic transactions
Video tutorial: Reverse charge
Special cases: Communities of property and other entities referred to in Article 35(35.4) of the General Tax Law
Persons liable for the tax
Material obligations of the taxable person
Formal obligations of the taxable person
Obligations relating to certain import and export operations
TEACHING UNIT 7. ACCRUAL AND PAYABILITY OF VALUE-ADDED TAX
General provisions
Accrual in respect of the supply of goods and services
Tax liability on intra-Community acquisitions of goods
Accrual on imports of goods
TEACHING UNIT 8. THE TAXABLE AMOUNT FOR VALUE-ADDED TAX
Definition and general rules
Methods for determining the tax base
Provisional assessment of the taxable amount
Supplies of goods and services: Items included and excluded from the tax base
Taxable amount on intra-Community acquisitions of goods
Taxable amount on imports of goods
Specific rules for determining the tax base. Self-consumption
Taxable base for transactions between related parties
Other transactions (selling commission; buying commission; acting as an intermediary on one’s own behalf)
The adjustment of the tax base
TEACHING UNIT 9. VALUE-ADDED TAX RATES
Application of rates
Structure and rates: standard, reduced and super-reduced
Formal obligations: Invoicing and accounting
TEACHING UNIT 10. VALUE-ADDED TAX DEDUCTIONS AND REFUNDS
General rules
Special rules
Returns
TEACHING UNIT 11. FORMAL OBLIGATIONS OF A VALUE-ADDED TAX REGISTERED PERSON
Formal obligations of the taxable person
TEACHING UNIT 12. THE ADMINISTRATION OF VALUE-ADDED TAX
Census returns (persons required to submit; form; content)
Self-assessments (forms, deadlines, where to submit)
Video tutorial: Practical example of Form 303
Informative returns (forms 390, 349 and 347)
Appointment of a representative
Offences and penalties
TEACHING UNIT 13. SPECIAL VALUE-ADDED TAX SCHEMES
Special scheme for SMEs
Special scheme for agriculture, livestock farming and fisheries
Special arrangements applicable to second-hand goods, works of art, antiques and collectors’ items
Special scheme for travel agencies
Special scheme for the equivalence surcharge
Special rules applicable to investment gold
Special schemes applicable to distance sales and to certain domestic supplies of goods and services
Special scheme for groups of entities
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