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Every day, you receive invoices with and without VAT: is that correct? How to book them? How can I properly declare them in my company’s or clients' VAT return? How can I correct errors? What is the taxation procedure?
To answer these questions, we offer you two complimentary training: The basic VAT principles and The Luxembourg VAT return.
During our first training THE BASIC VAT PRINCIPLES, we will review the basic principles of VAT (the notion of taxable person, the taxable transactions, the place of supply of transactions, the exemptions and the liability of the tax), the rights and obligations of the taxable person (right to deduct, registration, filing of returns, issuing of invoices and keeping of accounts) on the basis of examples.
Part 1: The 5-question method
- Who carries out the transaction? – what is an « economic transaction »?
- What? Is it a taxable transaction?
- Where? Place of supply?
- Any exemption applicable? If no, what’s the VAT rate applicable?
- Who is liable for VAT?
Part 2: The taxable person ‘s rights and obligations
- Right to deduct VAT (the two methods, the VATRefund procedure)
- Obligations: to pay VAT, to register, to file returns (European Sales Lists, Intrastat), to issue VAT compliant invoices, to have proper accounting (FAIA), to de-register for VAT.
Part 3: Exercise
- Preparation of VAT return of a company receiving dividends, granting interests bearing loans and supplying management services.
Start date 1
Feb 14 2020
At the end
of the training, participants will be able
- to qualify the basic transactions of
their company or clients from a VAT point of view,
- to assess whether the
invoice received from a supplier is correct,
- to understand the VAT deduction
- to be aware of the various reporting obligations and the applicable time limits.
Accountants & chartered accountants. Auditors.
Any employee of the finance department.
Managers, business owners (commercial & holding company).
This training is perfect for juniors accountants or people willing to refresh their fundamental VAT knowledge.
Number of Participants
6 (min) - 14 (max)