COURSE OBJECTIVES: This course is an introduction to both the VAT and customs duty implications of international trade in goods and services. This course gives practical and clear guidance through the maze of VAT and duty procedures and is an ideal foundation for the more detailed VAT and EU Trade in Goods course.
COURSE CONTENT
Introduction
- Overview of the systems for
- The movement of goods between member states of the EU and non-EU countries
- Supplies and receipt of services between the member states and countries outside the EU
Imports of Goods from Outside the EU
Intra-EU Movements of Goods
- Accounting for acquisition VAT
- Tax values, tax points, currency conversion
- VAT return entries
- Dispatches
- Reporting requirements
- Completing the VAT return correctly
- Conditions required for zero-rating
- Danger areas for possible registration in other member states
EU Trade Reporting
- An introduction to VAT return, European sales listing and Intrastat requirements
Recovering Foreign VAT
- Mutual recovery - the key features and conditions
Introduction to International Services
- Supplies-recognising when to charge VAT to an overseas customer and the rules for not charging VAT
- Receipts-accounting procedures for certain types of service - the ''reverse charge''
- A brief overview of the main changes in 2010
WHO SHOULD ATTEND
The course is designed for non-VAT specialists or those new to VAT or to international trade.
"I have thoroughly enjoyed today''s course and found it useful and informative. Gwen has been a great tutor, explaining things clearly and making it easy to understand."
Would you like this course run in-house? Call us on 0207 566 8207 to find out more