Tax Academy

Certificate in Value Added Tax


Description
This professional certificate is designed to empower course participants with applied working and practical knowledge of the fundamentals of Value added Tax (VAT). Participants will gain an in-depth practical knowledge of the VAT legislation and get a clear understanding of the principles of VAT and application of the framework. Successful completion leads to VAT Specialist Designation with the Institute of Certified Tax Accountants, the leading tax professional body in Zimbabwe.
Content
  • PRE-COURSE RESOURCES
  • Certificate in Value Added Tax - Course Outline
  • Value Added Tax Act Chapter 23 -12 (Updated - Zimbabwe)
  • VAT Regulations - General Regulations
  • 2019 Finance Act No. 2 No. 7
  • MODULE
  • History of Value Added Tax
  • Background & Introduction
  • Rates of VAT
  • Key Definitions - Interpretations (Section 2)
  • General Operational Aspects of VAT (Section 6)
  • Supplies
  • Time & Value of Supply
  • Special Supplies
  • Importation & Exportation of Goods
  • Imported Services (Section 13)
  • Accounting for VAT (Section 14)
  • Permissible and Prohibited Deductions
  • Adjustments (Section 17)
  • Sale of A Business as A Going Concern (Section 18)
  • Pre-Incorporation Expenses (Section 19)
  • Irrecoverable Debts (Section 22)
  • VAT Registration Requirements
  • Cancellation of Registration (Section 24)
  • Mechanics of Value Added Tax
  • Deferment of VAT
  • Tax Periods (Section 27)
  • VAT Assessments (Section 31) (3)
  • Objections, Appeals & Refunds
  • Agents and Auctioneers (Section 56)
  • Glossary of Terms and Explanatory Notes
  • EXAMINATION
  • Certificate in Value Added Tax Examination
Completion rules
  • All units must be completed
  • Leads to a certification with a duration: 3 years