AAT to introduce new VAT qualification to support businesses in Bahrain and UAE
29 November 2018
Business leaders from around the world have come together in the United Arab Emirates (UAE) at an event to mark the launch of a new VAT qualification from AAT. The qualification has been designed to support individuals and companies in the Gulf Cooperation Council region in getting up to speed with new VAT regulations which have been brought in, and help them understand how the tax affects their business.
The new AAT Advanced Award in GCC Value Added Tax qualification will assist businesses with applying VAT procedures, completing VAT returns and reporting VAT-related information to avoid fines and penalties for non-compliance. All learning outcomes from it can be transferred into the workplace immediately to guarantee prompt compliance with the new VAT laws.
Co-hosted by Phoenix Financial Training, a Dubai-based training provider, the event to introduce the qualification took place at the Dubai World Trade Centre and drew the participation of global experts, local businesses and training providers.
Charlotte Eaton, International Account Manager for the MENA Region at AAT, said:
Nearly a year since VAT was introduced in the UAE, many businesses are still playing catch-up on the relevant processes, and adapting to the new skillsets and systems needed to comply with the legislative requirements. The intricacies of VAT implementation may still pose a challenge.
She added:
Businesses must be able to understand the VAT legislation as completely as possible to save both time and money on errors. The new qualification teaches them the knowledge and skills they require to comply with VAT regulations and practices, and ensures they are well-equipped to work with the system.
Another event was also held in Bahrain on 12 November, co-hosted with KPMG, to present the qualification to business leaders there.
Justin Kyriakou, AAT International Development Manager said at the event in Bahrain:
It’s essential that businesses are able to understand the VAT regulations as quickly as possible, otherwise they will lose time and money if they submit their VAT paperwork late or incorrectly. This new qualification will teach businesses and individuals the knowledge and skills they require to make their employers compliant with the regulations and practices that apply to VAT in sales and purchases.
