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Complete 3 day VAT journey

Complete 3 day VAT journey

Lets be honest, Tax Training can be a bit of a bore. We want to make training you in this very important area of business life as interesting as possible, with lessons from our training team that promise to be both informative and fun.

TRAINER:

Deirdre O’Keeffe is a qualified tax technician through the Irish Tax Institute, accounting technician and payroll technician and is fiercely passionate about gaining as many skills and as much knowledge as possible in order to provide her clients with a first class training service.

DATE & TIME: Tuesday the 27th, Wednesday 28th & Friday 30th September 8am to 12pm

COST: €150 non-member / €125 member of ISME

TOPICS COVERED:

Essential VAT

  • An Introduction to the concept of Valued Added Tax
  • The European Dimension of VAT
  • The European Court of Justice (ECJ) and its role in Irish VAT
  • VAT – how it differs from other taxes
  • How VAT works
  • Taxable Persons and Accountable Persons
  • Exemption from VAT
  • VAT Thresholds
  • Determining turnover for VAT purposes
  • Sales invoice basis for VAT versus the Monies Received basis
  • How to register for VAT
  • Are VAT registration applications always approved?
  • Rates of VAT
  • How to check current VAT rates
  • Recovery of VAT – deductible and non-deductible VAT
  • Resale and non-resale VAT – why does it matter?
  • VAT Invoicing
  • Basic bookkeeping for VAT
  • Frequency of VAT Returns
  • Filing a VAT Return (VAT3)

Intermediate VAT

  • VAT thresholds – a recap
  • The Two-Tier VAT System
  • What is the definition of a supply for VAT purposes
  • Mixed supplies and composite supplies
  • The Two-Thirds rule
  • Intra-EU supplies and acquisitions (B2B)
  • EORI
  • VAT invoicing
  • Deposits and advance payments
  • Non-refundable deposits when a transaction is cancelled
  • Treatment of vouchers
  • The “6 month” rule
  • Changing from one basis of VAT on sales calculation to another
  • Cancellation of VAT registration – the pitfalls of cancellation of electing to register for VAT
  • Filing a VAT3
  • Self-account for VAT on Intra-EU acquisitions
  • Amending a VAT3 when an error is discovered
  • VIES/Intrastat – when are they due to be filed and what are they?
  • Brexit – how has it changed how we do business with Northern Ireland?
  • Revenue – eAudits as part of the landscape of VAT compliance
  • Revenue Audits – penalties, mitigation and the power of a qualifying disclosure

Advanced VAT

  • Amount on which VAT is chargeable
  • Self-supplies of goods and services
  • Place of supply rules
  • Comprehensive explanation of the Place of Supply of Services Rules received from abroad – understanding how to determine where the place of supply is
  • VAT chargeable on goods and services supplied to foreign customers
  • When does the foreign supplier have to register for and charge Irish VAT – thresholds and procedures
  • VAT on Finance Charges: Hire Purchase -v- Leasing – the differences on how VAT is recovered
  • VAT One-Stop-Shop (VAT OSS)
  • Inclusion of B2B Intra-EU acquisitions/supplies on the VAT3
  • VAT on Construction Services – Rules regarding VAT on a “relevant contract”. When to charge VAT, the rates applied and self-accounting for VAT
  • The Two-Thirds rule
  • Relevant Contracts Tax (RCT) for construction services
  • Supply of materials only and RCT
  • Principals – when is a person defined as one?
  • VAT registration of subcontractors
  • Government Bodies, Local Authorities and RCT
  • Payment notifications for a relevant contract
  • The VAT RTD – overview and worked examples
  • When is VAT payable on importation?
  • Postponed accounting
  • VAT Mini One Stop Shop (OSS) – the changing landscape of cross border VAT compliance

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