Unless you deal with VAT on a daily basis, coming across VAT issues may seem bewildering, overly complex and messy. Yet, the VAT system works on the basis of distinct principles. Understanding these principles and how they connect is key to a clear understanding of the workings of VAT.

The two full-day seminars in Limassol and Nicosia respectively, will analyse, explain and evaluate these core principles, offering a breath of fresh, crisp air in VAT learning.

The course represents a detailed interpretation of the VAT principles, to assist beginners and advanced VAT users alike to understand the reasoning and functioning of the VAT system. Practical examples and reference to key judgments from the European Court of Justice (ECJ) will also be provided.

The seminars will cover the following areas of VAT legislation:

• Defining the territorial scope of the VAT Directive
• Defining what constitutes a taxable person
• Explaining the reverse charge principal
• Examining the four types of transactions within the scope of the VAT Directive
• Determining the place of supply of these transactions, including a brief examination of chain supplies and the fixed establishment
• Examining when the chargeable event arises
• Examining what constitutes the taxable amount and the VAT rate that applies
• Defining the nature of exemptions, with or without the right to deduct input VAT
• Examining the rules regarding the right to input VAT deductions
• Examining who has the responsibility and obligation to discharge the VAT
• Brief explanation of books and records

Bringing it all together, this course is suited for beginners as well as those with VAT experience who wish to delve deeper into the workings of the EU VAT system, so that they can quickly gain more experience in the field of VAT at the EU level.