There is a logic surrounding the workings of the EU VAT Directive, which forms the basis of the VAT system in Cyprus and all EU Member States.

VAT advisors should base their knowledge on solid foundations. Some people are just starting in VAT whilst others have been involved with VAT for years and have learned about VAT by doing it. However, these people may have never actually learned the basic reasoning behind VAT law.

The seminar represents a detailed map of the Directive, charted in such a way so as to help beginners and advanced VAT users alike to understand the basic reasoning and functioning of the VAT system throughout the EU, with reference to key judgments from the European Court of Justice (ECJ).

The seminar 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 in the workings of the EU VAT system, so that they can quickly gain more experience in the field of VAT at the EU level.