Registration Time: 09:00

Sessions Time: 09:15 - 12:30  including a 15-minute break
Speaker: Mr Saviour Bezzina
Venue:   Online Webinar

Participation Fees (The Institute is now accepting payments via Paypal)
MIA Members: €40.00
Non-MIA Members: €75.00
Retired Members: €20.00
Students: €30.00

*Group bookings for 3 or more participants available.

BACKGROUND INFORMATION

The right to claim VAT on expenses incurred in conducting an economic activity (input VAT) is one of the most important considerations for VAT registered persons. However, quite a few conditions need to be satisfied for such a claim to be in line with the various provisions of the Maltese VAT Act such as:

-  Eligibility of Input Tax Credit (Who is entitled to claim back input VAT)
-  Evidence of Input Tax (Type of Documentation required – full vs simplified invoices, receipts?)
-  Blocked Deductions (Which VAT cannot be claimed back)
-  Attribution of input Tax and Partial Attribution (In which instances is the right of refund restricted and how to calculate it)
-  Capital Goods Scheme (When are adjustments to past input VAT incurred required)
- Reductions/Credit Notes/Late invoices (how to declare them in the VAT Return and whether there is the need to adjust past VAT Returns and if yes how)

Getting all these right is essential in order to ensure that; on one hand one does not lose out on any VAT incurred that can be claimed (hence reducing VAT leakage to the bare minimum), and at the same time ensuring that input VAT which cannot be claimed is actually not claimed (hence avoiding overclaiming input VAT which would be penalized with interest and penalties if discovered).

Specific topics to be covered during the sessioN

The right to claim back VAT incurred often gives rise to several questions/difficulties including:

• Eligibility of Input Tax Credit (Who is entitled to claim back input VAT)

• Evidence of Input Tax (Type of Documentation required – full vs simplified invoices, receipts?)

• Blocked Deductions (Which VAT cannot be claimed back)

• Attribution of input Tax and Partial Attribution (In which instances is the right of refund restricted and how to calculate it)

• Capital Goods Scheme (When are adjustments to past input VAT incurred required)

• Reductions/Credit Notes/Late invoices (how to declare them in the VAT Return and whether there is the need to adjust past VAT Returns and if yes how)

During the session we will discuss in detail the main VAT provisions pertaining to input VAT with an emphasis on the issues above making reference to specific situations/ examples which will be discussed in a user-friendly manner whilst encouraging questions from the attendees to make the session as relevant as possible.

Why is the session of relevance to our members?

Attendance is encouraged in order for participants to understand which VAT they are entitled to claim (hence avoiding losing out on any input VAT which is currently potentially being lost/not claimed) and at the same time making sure that no input VAT is overclaimed (not claiming any VAT which cannot be claimed back). More importantly, the session will explain the theoretical basis and the respective practical implementation of the right of a VAT refund enabling the participants to understand which are those factors/provisions which determine whether an expense can be claimed or not any why. As always, active participation and questions from participants are encouraged and will be tackled and answered durin the session itself making the session more useful and relevant for all those participants .

Target Audience

This course is ideal both to experienced personnel (directors, accountants, lawyers, financial professionals, accounting students, financial staff) who have been working in VAT for a number of months/years (who may need to brush up their technical knowledge or fill in certain gaps and clarify certain issues relating to the right to claim back input VAT) as well as newcomers in the respective sectors (who have an opportunity to get a very good theoretical and practical understanding of the main applicable VAT refund concepts) .

Speaker's Profile

Saviour Bezzina is a Senior Manager responsible for indirect tax matters at the EY Malta office and forms part of EY’s Global Indirect Tax Network as a local knowledge contact. He joined EY in July 2006 after obtaining the Bachelor of Accountancy (Hons.) from the University of Malta. He is a member of the Malta Institute of Accountants, holds a Diploma in VAT compliance and lectures regularly on VAT and indirect tax matters. Saviour Bezzina is a Senior Manager responsible for indirect tax matters at the EY Malta office and forms part of EY’s Global Indirect Tax Network as a local knowledge contact. He joined EY in July 2006 after obtaining the Bachelor of Accountancy (Hons.) from the University of Malta. He is a member of the Malta Institute of Accountants, holds a Diploma in VAT compliance and lectures regularly on VAT and indirect tax matters. Saviour was awarded the 2007 MIA prize as the best student who graduated in the Bachelor of Accountancy (Hons) Degree Course Group 2004/2006.

EVENT CPE COMPETENCies

3  Core

WEBINARS TERMS AND CONDITIONS

Terms and conditions  apply

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