Value Added Tax (VAT) in the GCC
Start Date | End Date | Venue | Fees (US $) | ||
---|---|---|---|---|---|
Value Added Tax (VAT) in the GCC | 14 Dec 2025 | 18 Dec 2025 | Al-Khobar, KSA | $ 4,500 | Register |

Value Added Tax (VAT) in the GCC
Start Date | End Date | Venue | Fees (US $) | |
---|---|---|---|---|
Value Added Tax (VAT) in the GCC | 14 Dec 2025 | 18 Dec 2025 | Al-Khobar, KSA | $ 4,500 |
Introduction
With the expected introduction of a Value Added Tax (VAT) in the GCC countries, companies have to be prepared by upgrading the skills of their accounting staff to fully understand and properly account for the VAT. From invoicing to recording entries and preparing VAT return forms, this course provides an overview of the accounting treatment of the VAT according to the various types of goods and services. Additionally, we compiled from multiple sources the possible VAT treatments, challenges faced, and questions to ask by industry, in order to help businesses in the GCC understand the likely impact of adopting VAT on their operations and financial accounts.
This course is part two of the VAT training series. While it is recommended that participants first attend part one, titled “Introduction and Mechanics of VAT” which is offered a day earlier, accounting and finance professionals can still attend the “Accounting for VAT” course only; however, they will not be able to avail the special discount given if attending the two courses.
Objectives
- Explain how to account for VAT on purchase and sales of goods or services whether the entity is registered in VAT or not
- Use the company’s trial balance to fill up a VAT return
- Formulate a preliminary assessment of the impact of VAT adoption on operations and accounts
- Understand the concept of VAT and get a recapitulation of the VAT law
- Overview of recent VAT regulations
- Work on VAT implementation and learn how to navigate management challenges
- Apply VAT procedures
- Work on VAT calculations, accounting issues, and documentation requirements
- Explore VAT application to various industries
By the end of the course, participants will be able to:
Training Methodology
This is an interactive course. There will be open question and answer sessions, regular group exercises and activities, videos, case studies, and presentations on best practices. Participants will have the opportunity to share with the facilitator and other participants on what works well and not so well for them, as well as work on issues from their own organizations. The online course is conducted online using MS-Teams/ClickMeeting.
Who Should Attend?
Staff accountants, senior accountants, chief accountants, accounting managers, controllers, internal auditors, tax consultants, tax preparers, and other professionals in the accounting and finance functions. This well-researched course is useful for executives who are responsible for finance and accounting functions in their organizations. Finance Directors, Heads of Finance, Chief Finance Officers, Accounts Managers, Accountants, Auditors, and Analysts will find the course particularly useful. Organizations will undoubtedly find this course to be a great opportunity to train their young officers and other persons involved in VAT implementation.
Target Competencies
- Understanding VAT
- Accounting for VAT
Course Outline
Accounting for VAT
- Issuing the VAT invoice
- What does a VAT invoice look like?
- Contents of an invoice
- Difference between cash business and sales on account
VAT records and documentation to be maintained
Accounting entries for VAT
- Local purchases of goods and services
- Imported goods and services
- VAT on expenses
- Self-supply of goods and services
- VAT on sales
- Discounts provided to customers
- Returned goods
- Exchanged goods
- Interest on late customers’ payments
- VAT entries for bad debts write-offs
- VAT entries for down-payments
- Treatment of damaged goods
- Sale on consignment: treatment for consignee and consignor
- VAT on leases: operating and finance leases
- Purchases and sales of the fixed asset
- Entities providing non-vatable activities
Trial balance accounts needed to complete a VAT return
The expected format of a VAT return
Issues to be considered and addressed by industry
- Retail
- Automotive
- Meetings, incentives, conferences and events
- Financial services and insurance
- Real estate and construction
- Tourism
- Oil and gas