Brief Introduction
This course explains how to avoid headaches with proper registration and control processes when working with VAT.Description
This course enables controllers, accounting and tax professionals to understand the importance of managing Value-Added-Tax (VAT) transactions and balances. VAT management is not rocket science, but headaches can be avoided with a proper registration and control process in place. While this course is focused mainly on Latin America protocols, the concepts and rules around VAT are applicable in other regions as the mechanics are quite similar across the globe. This course covers real-world examples of VAT management, as well as:
VAT definition, history and terminology
Examples of how to record VAT
Potential red flags around VAT treatment
Tips on audit compliance
Requirements
- Requirements
- Exposure to sales and value added tax exposure but no advanced preparation is required.