The course will be split over three sessions each dealing with specific aspects of VAT.
During the first session, we will be discussing the VAT implications associated supplies of goods, taking into account the changes that came into effect as from 1st January 2020 and the relevant changes that will come into effect as from 1st January 2021. Specifically, during the session, we will delve into:
- What constitutes a supply of goods;
- The place of supply and VAT rates applicable to different supplies of goods, including supplies with and without transport, complexities arising from chain transactions and triangulation;
- The 2020 Quick Fixes that came into effect as from 1st January 2020;
- Anticipating the 2021 changes
During the second session, the focus will turn to supplies of services, whereby we will delve into:
- What constitutes a supply of services;
- The place where services are deemed taking place (both under general and specific rules); and
- Salient exemptions relating to supplies of services.
Complexities arising from supplies of electronic services and supplies falling under special schemes such as the cash accounting option or the travel agent margin scheme will also be discussed.
The third session will delve into general matters including but not limited to the determination of a taxable person’s input VAT recovery rights; the initial VAT Registration and the on-going VAT compliance obligations and invoicing obligations.