Deloitte KSA VAT academy
How to complete your VAT returns
The Value Added Tax (VAT) regime commenced on 1 January with a 5% VAT applying on the sale and purchase of most goods and services in the Kingdom of Saudi Arabia (KSA). This represents a major transformation for both the Government and consumers; however, as businesses have the responsibility of ‘collecting the tax’ the greatest challenge is on them to get it right.
Now that VAT is here, there is no option but to be compliant, as failing to do so poses both regulatory and reputational risks due to the imposition of VAT penalties by the General Authority of Zakat and Tax (GAZT). It is also an important commercial issue as customers will be seeking VAT compliant documentation from you, and you will find that many of your customers will be querying your invoices and documentation.
Deloitte is therefore organizing a VAT academy to guide you on how to complete your VAT returns.
Topics covered will include:
- The KSA VAT return: what does it look like?
- Navigating the eServices portal: how to access the VAT return
- Box by box: what information should be reported on the VAT return?
- Accounts payable: attention points
- Audit trail, manual adjustments and record keeping
- Useful reconciliation checks to perform on your VAT return numbers before submission
Dates and locations
Al Khobar, Tuesday, February 20, 2018
Riyadh, Wednesday, February 21, 2018
Jeddah, Thursday, February 22, 2018
Participants will have the opportunity to interact with a number of Deloitte’s core team of tax professionals and specialists, who are dedicated to serving clients – locally and across borders.
09:30 am until 1:00 pm, followed by lunch.
The cost to attend the VAT academy is SAR 1,200 + VAT per delegate.
Payment details will be shared on the invoice.