Registration Time: 09:00

Sessions Time: 09:15 - 12.30 including a 15-minute coffee break

Speaker: Mr Saviour Bezzina
Venue: Online Webinar

MIA Members: €120.00

Non-MIA Members: €225.00

Retired Members: €60.00

Students: €90.00

BACKGROUND INFORMATION Intermediate Level

The scope of these three sessions is to brush up on the basic VAT concepts and principles needed to fulfil the VAT compliance obligations in a proper and timely manner. Session 1 will start off with tackling the two basic principles of output and input VAT which constitute the main elements of a typical VAT Return and the various issues relating to them. Session 2 will discuss the various VAT obligations VAT Registered persons are expected to fulfil and the implications if any such obligations are not adhered to in a proper and timely manner. Session 3 will focus on which documentation needs to be filled in and how through a walkthrough of all applicable VAT forms. Participation and Feedback are strongly encouraged together with using practical and worked examples to make the sessions much more interesting, useful and relevant for all attendees .

Session 1 Intermediate Level - Output and Input VAT – When to charge/not charge and when to claim/not claim VAT and why.

SPECIFIC TOPICS TO BE COVERED DURING THE SESSION

• Output VAT – including Local transactions, ICSs/ICAs, Export/Imports, Cross Border Supplies of Services

• Input VAT – including Partial Attribution, Capital Goods Scheme, Blocked Deductions, Invoice Details

Session 2 Intermediate Level  – VAT Obligations – Including Registrations, Documentation, tax points, Taxable values, penalties and interest

SPECIFIC TOPICS TO BE COVERED DURING THE SESSION

• VAT Registrations

• VAT Documentation

• Taxable Value

• Tax Point

• Penalties and Interest

Session 3 Intermediate Level  – VAT Forms – Which documents to file, when and how. 

• VAT Return (Article 10)

• Annual VAT Declaration (Article 11)

• Form 04 and Form 05 (Article 12)

• Recapitulative Statements

• Intrastat Forms

• VAT Return Adjustment Forms

The application of the correct VAT treatment is of paramount importance and failure to do so may result in various negative business, reputational and financial implications. From experience certain practitioners and accounting staff often rely on the VAT treatment that was applied in the past without checking or knowing whether any change in the various factors should have triggered a change in the VAT treatment.  Hence it would be beneficial to get to know why the said VAT treatment is being adopted and which changes might lead to a change in the VAT treatment currently being applied. Moreover it is also essential to understand the various VAT compliance obligations that one may be exposed to and the proper way how to fulfill such obligations in a timely manner.

Target audience

This course is ideal both to newcomers in the VAT sphere (who have an opportunity that in just 3 sessions they can get a very good theoretical and practical understanding of the main VAT concepts from A to Z)  and also to more experienced staff (accountants, lawyers, financial professionals, accounting students, financial staff) who have been working in the VAT sphere for a number of months/years (who may need to brush up their technical knowledge in an intensive manner or fill in certain gaps and clarify certain issues relating to certain transactions). 

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 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

9 Hours Core 

CPE hours will be allocated according to the attendance of the events.

WEBINARS TERMS AND CONDITIONS

Terms and conditions  apply

DISCLAIMER

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Please note that all webinars are recorded by the MIA. Such recordings will be retained by the MIA for internal use.