Registration Time: 13.15
Sessions Time: 13.30 - 15.30 (2 Hrs with no break)
Speaker: Mr Brandon Gatt
Venue: Online Webinar
Participation Fees (The Institute is now accepting payments via Paypal)
MIA Members: €28.00
Non-MIA Members: €50.00
Retired Members: €15.00
*Group bookings for 3 or more participants available.
The deduction system incorporated in EU VAT law has been designed to relieve businesses from the burden of the VAT payable or paid in the course of their economic activities. During this seminar we will go through the origin and the scope of right of deduction and the main principles connected therewith.
Objectives of the session
• The deduction system incorporated in EU VAT Law promotes fiscal neutrality. But, what does this mean and what are the fundamentals for a ‘tax neutral system’?
• A right to deduct means a person’s right to claim from the tax authorities the VAT paid on acquired goods and services. But, ‘who’ may exercise such right to deduct?
• You will learn that not all economic activities give an entitlement to deduct input VAT. Then in that case, ‘which’ activities give a right to deduct?
• The deduction system comes with several limitations and restrictions including a ‘list’ of ‘what cannot’ be deducted. What does such list include?
• A business which carries out mixed supplies must claim back the input tax on a partial attribution basis. What does this entail? How do you account for the input tax on a partial attribution basis? Is there any specific methodology for calculating this?
• Therefore, the scope of the session is to go through the pertinent provisions from the EU VAT legislation in conjunction with the Malta VAT legislation with a view to better understand the concepts of the right to deduct input VAT.
TOPICS ON THE AGENDA
• Origin and scope of right of deduction;
• Proportional deduction;
• Restrictions on the right of deduction – “Blocked Items”;
• Rules governing exercise of the right of deduction;
• Adjustment of deductions – including ‘Capital Goods Scheme’
• The ECJ on the right of deduction
The training course is particularly suitable for professionals, tax advisors and practitioners working in VAT or who are pursuing or intend to pursue a career generally in taxation and specifically in the area of indirect taxation. This session may also be applicable to financial controllers and CFOs.
Brandon Gatt, a Certified Public Accountant in possession of an ACCA degree, has been in the profession for the past six years. He has been involved in VAT and accounting assignments both within and outside of Malta. Brandon has been specialising in VAT since 2016 and is currently leading the VAT Compliance division at Zampa Debattista.
In a relatively short period, Brandon has acquired the necessary experience vital to handling an ever-growing portfolio of diverse clients, operating within various sectors of the economy. Back in June 2017, he attended an intensive course in France, provided by VAT Forum; a partnership of International VAT experts, where he was provided with intensive training on the Articles of the EU VAT directive 2006/112/EC. He is now reading for the EU VAT Expert Degree.
EVENT CPE COMPETENCES
2 Hours Core
WEBINARS TERMS AND CONDITIONS
If registration is being affected by a company or other corporate entity on behalf of an attendee or the registering company or other corporate entity supplies to the MIA personal data of third parties, such as of employees, affiliates, management companies or service providers, the registering company or other corporate entity shall be solely responsible for making sure that the provision of such data to the MIA fully complies with applicable laws and the relevant person in regard to whom the data relates has been provided with the necessary information at law regarding the MIA’s processing of his personal data.
Any information notices, consents or other applicable requirements that may be required to be fulfilled for the provision of third party data to the MIA shall be borne solely by the registering company or other corporate entity. The registering company or other corporate entity hereby fully indemnifies the MIA and shall render the MIA completely harmless against all costs, damages or liability of whatsoever nature resulting from any claims or litigation (instituted or threatened) by any third party against the MIA as a result of the provision of any third party personal data to the MIA by the registering company or other corporate entity.
The Malta Institute of Accountants may take photos during this event. These images will be used by the Institute to share news about the event in newsletters, the Annual Report, The Accountant journal and printed publicity. Photos can also be published on MIA’s Facebook, Linkedln and Twitter. Such images may be used to publicise future events of the same nature and for reporting purposes.