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OnlineITA107 Fundamentals of Value Added Tax

Gain a thorough understanding of the basic concepts and principles of VAT and how the tax operates both internationally and domestically. Approaches of EU and non-EU states will be compared and legal aspects considered.
 
Type:
Online Tax Courses
Language:
English
Level:
Introductory
Price:
EUR 499 / USD 674 (VAT excl.)
Client offer:
20% discount for IBFD Membership clients and 10% discount for Global Tax Explorer (Plus) clients.
Ordering multiple courses: to order more than one online course please view our instructions.
 
ITA107 Fundamentals of Value Added Tax
Learning objectives
After completing this course you will be able to:
 
  • Discuss the history of VAT, some of its advantages and disadvantages and how it fits into the tax mix of states around the world.
  • Describe the way in which VAT operates, particularly in respect of output tax and input tax, in such a way that it remains neutral in its application by businesses.
  • Identify how VAT applies to international transactions of both goods and services and how the system allows for neutrality by ensuring that imports and exports are neither advantaged nor disadvantaged over domestic supplies.  
  • Discuss how VAT works within the European Union’s free market.
  • Explain the impact of exemption in VAT and how tax is calculated by businesses that deal in exempt supplies.
  • Categorize some of the more important administrative issues that VAT requires.
Level
Introductory (Basic)
 

Delivery method

QAS Self study
 
Field of study
Taxes
 
Course review
This course was last reviewed February 2017

 

Pre-requisites
This course introduces the basics of value added taxes. As such, no great understanding of VAT is required as the course will build from the absolute basics through to some of the more complex issues such as exemption and internationally traded services. The course looks at both the EU system of VAT and also at some of the developments in states that have adopted value added taxes in more recent times. It does not, therefore, focus on VAT as applied in any one state or group of states but takes a global view. Given the importance of VAT in the European Union, the course will consider some of the specific issues that apply to trade between EU Member States.
 
While this course is suitable for practising professionals, it is also very useful as additional study material in preparing for the CIOT examination - Advanced Diploma in International Taxation (ADIT – Paper 3 - EU VAT Option). Further information about this qualification can be found at the ADIT website.
Study time
Audio lesson: 4 hours
Self study: 8 hours
Further reading (optional): 34 hours
 

Access to the course is granted for a period of 8 weeks. 

Continuing Professional Education (CPE)

The recommended CPE points for this course are as follows:

  • NASBA (The National Association of State boards of Accountancy, US) - 14 points
  • CIOT (The UK Chartered Institute of Taxation) – 12 points
  • NBA (Nederlandse beroepsorganisatie van accountants) - 12 points

The International Bureau of Fiscal Documentation (IBFD) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have the final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website.

In addition, International Online Tax Courses in many cases qualify for CPE credits pursuant to the rules of a number of professional associations other than those listed above. Participants are encouraged to check with their professional and/or national associations to determine eligibility in this respect.

Read more information on CPE points and accreditation for International Tax Courses.

For more information regarding administrative policies such as complaint and refund, please contact IBFD International Tax Training via email. Please note that once access to an online course has been granted, a refund will no longer be possible.

Order this course now by selecting 'Register Online' above.

 

  • Introduction to value added tax
  • Basic characteristics of taxable supplies – goods and services
  • Taxable persons
  • Taxable amount – VAT rates and exemptions
  • Place of supply – Goods
  • Place of supply – Services
  • Deduction and recovery of input tax
  • Administrative elements of VAT

 

 

 

Authors:

 
  •  
    David Holmes was formerly head of the Consumption Taxes Unit at the OECD, where he was responsible for developing the International Guidelines on VAT and GST. He worked closely with both government...

 

Other Contributors:

 
  • Fabiola Annacondia is Manager at IBFD’s Knowledge Centre and Editor of IBFD’s International VAT Monitor (journal) and EU VAT Compass (book). She has a postgraduate degree in...