Chapter 1: Introduction to GCC VAT

Understanding the concept and principles of Value Added Tax (VAT) in the Gulf Cooperation Council (GCC) countries. Overview of VAT legislation, regulations, and compliance requirements in GCC member states. Impact of VAT implementation on businesses and consumers in the GCC region. Introduction to VAT registration, invoicing, and reporting processes.

Chapter 2: Basic GCC VAT Transactions

Recording basic VAT transactions such as sales, purchases, and expenses in compliance with GCC VAT regulations. Understanding VAT treatment for different types of goods and services. Calculating VAT amounts and applying appropriate VAT rates to transactions.
Maintaining VAT-compliant records and documentation in accounting systems.

Chapter 3: Advanced GCC VAT Transactions

Handling advanced VAT transactions including intra-GCC transactions, imports, and exports. Accounting for VAT on complex transactions such as discounts, returns, and bad debts. Managing VAT adjustments, corrections, and refunds in accordance with GCC VAT regulations. Implementing VAT reverse charge mechanism and special VAT schemes where applicable.

Chapter 4: Payment and Returns

Understanding VAT payment procedures and deadlines in GCC countries.
Preparing and filing VAT returns accurately and timely to the respective tax authorities.
Calculating VAT liabilities, input tax credits, and net VAT payable/receivable amounts.
Addressing common issues and challenges related to VAT payment and return filing.