This course, split over three sessions, will touch upon various aspects of VAT. By the end of the three sessions attendees should:
The first session will be dedicated to the VAT treatment associated with goods. During the session we will discuss what constitutes a supply of goods for VAT purposes and the VAT treatment associated with supplies of goods. A distinction will be made between supply of goods with transport and supply of goods without transport. The sessions will also highlight the 2020 and 2021 changes and experiences a few years after the implementation of these changes.
The second session will focus on supplies of services. During the session we will discuss what constitutes a supply of a service, how to determine the place of taxation of services and salient VAT exemptions. The session will also deal with recent VAT changes such as the introduction of the 12% reduced VAT rate for certain supplies as well as guidelines published by the MTCA in the sphere.
During the third session we will discuss how to determine who has the onus to charge and collect VAT and a taxable person’s input VAT and input VAT recovery rights. During this session practical examples will be provided of supplies which are blocked by operation of the law and how to calculate a taxable person’s partial attribution ratio and when the Capital Goods Scheme applies. From a practical perspective, VAT compliance obligations will also be discussed.
The Speaker
Louise Grima is an Associate Director at KPMG Malta. She joined KPMG in 2015 after graduating with a Master in Accountancy from the University of Malta and has since worked in direct and indirect tax compliance and advisory projects servicing clients in a number of industries including financial services, insurance, gambling and international trade. Louise was awarded the 2015 MIA Best Student of the Year prize for Master in Accountancy Group 2013/2015, holds a Diploma in VAT compliance. Louise has also successfully completed the Advanced Diploma in International Taxation with an overall distinction. Louise is a member of the Malta Institute of Accountants (MIA) and is the Chairperson of the Indirect Tax Committee within MIA. Louise regularly delivers courses and seminars relating to VAT, is a visiting lecturer at the University of Malta and teaches ACCA at KPMG Learning Academy.