Registration Time: 09.00
Sessions Time: 09.15 - 12.30 including a 15-minute coffee break
Speaker: Mr Saviour Bezzina
Venue: Online Webinar

Participants need to book for this course by not later than 1st February 2021.  Benefit from this one time offer and benefit from a special discount when you book for the whole course (6 sessions of 3 hours each).

The below fees apply for the Introductory and Advanced course (combined) ONLY:

MIA Members: €240.00
Non-MIA Members: €450.00
Retired Members: €120.00
Students: €180.00

Short Synopsis

The introductory VAT course is intended to provide professionals, students and accounting staff with an extensive understanding of the most fundamental VAT concepts which are most commonly encountered in day to day work in order to arrive at the appropriate VAT treatment. The course will start from the very basics and guide the attendees forward to be able to understand how to arrive at the appropriate Maltese VAT treatment (the how, why and when) and then proceed with understanding how this technical knowledge should be converted into practice by properly fulfilling the various VAT compliance obligations to be tackled over the 3 sessions. Communication will be encouraged throughout the whole course and practical examples will be discussed in a user friendly manner.

The advanced VAT course is a 3 session course targeted towards those who already have a basic knowledge of VAT and want a more in-depth understanding of some of the most applicable and important VAT provisions. Throughout the course specific VAT topics (see Agenda below) will be discussed in a detailed manner (including how the VAT treatment has changed and developed in view of new VAT Department guidelines, EU Regulations and Case Law) for the attendees to be able to build a more extensive knowledge of VAT and hence be in a better position to apply the correct VAT treatment to more complex transactions. Participation and Feedback would be encouraged together with using practical and worked examples to make the sessions much more interesting, useful and relevant for all attendees .

Background Information

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.

Whilst with a basic understanding of VAT one can usually deal with most of the transactions a typical taxable person usually enters into, there are certain transactions/situations which require a more in depth VAT understanding due to the non-conventional/complex nature of such transactions including:

- The determination of whether the customer is to be treated as a taxable person or not and how to determine in which particular location it is established (or has a fixed establishment) for VAT purposes
- The applicability of certain exceptions to the general place of supply rules and to which specific services such exceptions apply
- The applicability of certain VAT exemptions and which factors need to be satisfied for such VAT exemptions to apply
- The VAT treatment of triangulation and other complex transactions and how these are to be declared in the various VAT forms
- The right to claim back input VAT in situations where a taxable person is involved in a number of different activities with different right of refunds.

All the above were the subject of a number of Council Implementing Regulations, VAT Department Guidelines and ECJ Cases which have shaped (and keep shaping) the manner in which such transactions are to be treated for VAT purposes. Throughout the course we will discuss how such developments impacted the VAT treatment of such transactions and how one should arrive at the correct VAT treatment in view of these latest and continuous developments.

Objectives of these sessions

The objective of the course is to enable attendees to learn the necessary knowledge required to fulfil the basic Maltese VAT compliance over 3 sessions and understand the technical basis behind the appropriate VAT treatment. Communication will be encouraged throughout the whole course and practical examples will be discussed in a user friendly manner in such a way that attendees can relate to the various scenarios discussed and contribute with their questions to ensure that the subject matter is being understood properly as intended.

The scope of the course is to look at the interpretation of these provisions of general importance both from a domestic perspective (i.e. the interpretation given by the local VAT authorities) and an international perspective (the relevant principles and decisions established by the CJEU – Court of Justice of the European Union and the various Council Implementing Regulations) in such a way to help the attendees arrive at the correct VAT treatment when dealing with such complex transactions (including being aware of which factors will shape and effect the respective VAT treatment).

Topics on the Agenda:

Session 1 – Basic VAT principles (determination of when VAT is to be charged and why)

This session will cover the basic concepts based upon which the appropriate VAT treatment can be determined including:
- Groups of supplies
- How to arrive at the appropriate VAT treatment
- Taxable Person
- Supplies of Goods and Services
- Place of Supply
- Exemptions and VAT Rates
- Person Liable for the Payment of VAT (including the Reverse Charge Mechanism)

Session 2 – VAT Rights and Duties (VAT Registration types, right of refund, time and value of supply)

This session will cover the VAT rights and duties which need to be fulfilled including:
- VAT Registrations (Articles 10, 11, 12 and VAT Grouping)
- VAT Documentation (invoices, fiscal receipts, records)
- Right of Refund (who is to claim what including partial attribution)
- Taxable Value (How to arrive at the 100%)
- Tax Point (when to declare a transaction in the VAT Return)
- Penalties and Interest

Session 3 – VAT Compliance Obligations

This session will cover the compilation of the main VAT forms going into detail of which transactions are to be declared in which box/field and when including:
- VAT Return
- Form 04
- Form 05
- Recapitulative Statement
- VAT Return Adjustment/Correction Form
- Intrastat Forms

Session 4 – VAT Place of Supply rules (including the concepts of taxable and non-taxable persons, place of establishment/fixed establishment, and the applicability of certain exceptions to the general rules)

Session 5 – VAT Exemptions (including the application certain VAT Exemptions of particular importance such as Insurance and Financial Services, Shipping and Aviation, Immovable Property and Gambling and related services)

Session 6 – VAT treatment of complex transactions (including triangulation and other complex chain transactions and how these are to declared, cross border trade in services and right of refund and partial attribution in case of mixed activities)

Target audience

The Introductory 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).

The Advanced  course is intended for those practitioners, professionals, students and accounting staff who already have a basic knowledge of VAT and want a more in-depth understanding of some of the most applicable and important VAT provisions.

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 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 COMPETENCES

18 Hours Core (Full course)

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

WEBINAR TERMS AND CONDITIONS

Terms and conditions apply

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