The Kingdom of Bahrain implemented the Value Added Tax (VAT) commencing January 1st, 2019, in accordance with the Unied Agreement for VAT of the Cooperation Council for the Arab States of the Gulf. The course is designed to develop learner’ skills in preparing VAT returns for submission to the relevant tax authority in relatively routine situations. Some non-routine issues are also included in this
This qualication provides learners with the knowledge and skills they need to keep their employers and clients compliant with the regulations and practices that apply to VAT on sales and purchases. The content is designed to ensure that learners can perform these tasks relatively unsupervised, particularly in terms of routine and some non-routine VAT tasks.
The course intends to help learners to:
• Understand and apply VAT requirements
• Be able to complete VAT returns
• Be able to report VAT-related information within the business in accordance with regulatory and business requirements
• Explain information on VAT regulation across the GCC member state
• Explain information on VAT regulation within individual GCC member states
• Explain information on VAT relevant to the business
• Explain interactions with regulations and the relevant tax authority
• Explain VAT registration and de-registration requirements
• Explain VAT invoices
• Extract relevant data from the accounting records
• Describe relevant input tax and output tax on the VAT return
• Calculate the VAT payable to, or refundable by, the relevant tax authority
• Complete VAT returns within relevant time limits
• Make amendments for errors or omissions
• Explain payments and refunds of VAT
• Inform the appropriate person about VAT-related matters
• Communicate information about VAT payable or refundable
Learners must response in English to both assessments:
• The computer based assessment (CBA) is set and marked by AAT, computer based, time limited, scheduled by RTC and takes place under controlled conditions.
• The internal assignment (IA) is internally set and marked by the training provider in accordance with AAT guidelines. It is externally quality assured by AAT, time limited, scheduled by RTC and take place under controlled conditions.