VAT is on its way to being implemented in the GCC. Around 95% of the consumer goods and services will attract VAT which poses a big challenge to Small & Medium Enterprises as they need to prepare themselves for upcoming challenges. With the levy of VAT, the business models of many organizations will also be challenged which creates an immediate need to work on Strategic, Operational and Tactical Planning and Process Reviews to combat challenges successfully.
This program is specifically designed for Small & Medium enterprises operating in GCC region keeping in view their business challenges based on changing the economic and commercial environment. The training will help entities in gaining an insight of upcoming challenges arising from the implementation of VAT, changes in their cash flows, profitability, sales and cost structures.
Grasp important concepts through simulation-based activities
Learn to plan for VAT, align it with business strategy and forsee challenges through interactive board games
Gain a comprehensive review of the VAT framework with the help of real world case studies
Conduct impact analysis on businesses - pre and post implementation and design a roadmap
What is VAT and how does it work
Background of VAT implementation in the GCC region
Pre-requisites & preparation for SMEs before VAT implementation
Competence & skill set required by SMEs – People, System & Leadership
Simulation Game: Participants will get a simulation based on SME business in which they will come across many challenges which will need strategic planning & decision making. They will experience the results arise from their planning and how their decision can become a game changer.
Day # 2
VAT Calculation & Implication
Input & Output Tax
Standard Rated, Zero Rated & Exempt Supplies
Calculation & Reporting Challenges
Complex Transactions in VAT
Simulation Game: Participants will get a comprehensive review of VAT implementation ranging from Inventory Management to VAT processing, recording & periodical reporting in the form of a Board Game.
Operational Challenges to SMEs
Impact Analysis on SMEs
Supply Chain Challenge
Procurement Planning & Control
Anticipated Changes in Contract Administration
Cost Controls for SMEs
Group Challenges: Participants will undergo group challenge situation in which they will try to improve their business position from competitor groups through adopting suggested remedies to challenges given. They will experience the results of their decision at the end of the exercise.
VAT – Challenges Marketing, Costs & Profitability
Are We Ready – People, Technology & Leadership
How VAT Implementation can be used as “Blessing in Disguise”.
Cost Control Reduction & Tax Mitigation Techniques
Cash Flow Challenges & Their Remedies
VAT – Roadmap to Implementation for SME
Step by Step Journey to Jan 2018
Pre-Assessment – Review of Current State
Impact Assessment – What, When, Why & How to Change
Design Implantation – Phased Planning
Live & Go
Case Study: Designing Road Map for a Small & Medium Enterprise.
Currently there are no public classes/sessions scheduled for this course yet. For any in-house or private training, please contact us.