Registration Time: 13:15
Sessions Time: 13:30 - 16:45  including a 15-minute break
Speakers: Mr Kenneth Cremona & Mrs Karen Spiteri Bailey
Venue:   Online Webinar

Participation Fees (The Institute is now accepting payments via Paypal)
MIA Members: €40.00
Non-MIA Members: €75.00
Retired Members: €20.00
Students: €30.00

*Group bookings for 3 or more participants available.

BACKGROUND INFORMATION

Customs duty refers to the tax imposed on goods when they are transported across international borders. In simple terms, it is the tax that is levied on import and export of goods. VAT, on the other hand, is chargeable on the supply of goods and services, the acquisition of goods from another EU member state and the importation of goods from outside the EU. This session will give an overview of both taxes, discussing common pitfalls and queries relevant to stakeholders. This seminar is prepared for industry professionals, and will include pertinent & current topics.

OBJECTIVES OF THE SESSION

• A discussion on general Custom Duty Concepts

• A discussion on general VAT Concepts

• Determining the practical queries on both VAT and Custom Duty

• An overview of contemporary VAT and Custom Duty Issues.

Specific topics to be covered during the session

1. Analysing core principles of VAT, namely:
a. Persons within scope of VAT
b. VAT registration
c. Place of Supply Rules & Cross Border trade
d. VAT obligations and Declarations
2. Analysing core principles of Customs duty, mainly:
a. The important provisions of the Act
b. Administrative & Custom Procedures
c. Inward/Outward Processing relief
3. A focus on contemporary issues
4. Concluding Remarks and discussion

WHY IS THE SESSION OF RELEVANCE TO OUR MEMBERS?

As global trade continues to expand, customs duty and VAT have become increasingly important for businesses to understand and comply with. Customs duty is a tax imposed by governments on goods imported into or exported out of a country outside the EU, while VAT is a tax on the value added to a product or service at each stage of the supply chain. For businesses involved in international trade, customs duty and VAT can have a significant impact on their bottom line. Failing to comply with customs regulations or incorrectly calculating VAT can result in costly penalties and fines. Therefore, it is important for businesses to stay up-to-date on changes in regulations and best practices for complying with customs duty and VAT requirements.

One way to gain a better understanding of customs duty and VAT is to attend the "Indirect Taxation: An Introduction to Customs Duty and Overview of VAT" seminar. This seminar provides attendees with a comprehensive overview of customs duty and VAT, including key concepts, compliance requirements, and best practices for minimizing tax liabilities. By attending this seminar, businesses can gain the knowledge and skills needed to navigate the complex world of indirect taxation and ensure compliance with customs regulations and VAT requirements.

Target Audience

Accountants and prospective accountants, tax lawyers, tax practitioners, as well as business owners and self-employed persons

Speaker's Profile

Kenneth Cremona graduated with a Master in Accountancy from the University of Malta in 2015. Kenneth joined RSM Malta in 2016, initially working on Income Tax Compliance dealing with clients established in multiple industries including Gaming, Immovable Property, Investments, Pharmaceuticals and Retail. In 2019, he specialised in VAT advisory and was promoted to a Manager in 2022. Kenneth is also a CPA warrant holder and received the Professional Certificate in Taxation issued by the Malta Institute of Taxation in 2017

Karen Spiteri Bailey is the Partner heading Accounting outsourcing services, Payroll outsourcing services and VAT advisory services.
She has extensive experience in servicing local and international clients across a wide range of industry sectors including trade federations, chambers and associations. She also has considerable experience in dealing with Value Added Tax and Taxation matters and in recent years continued to focus on Value Added Tax as an integral part of her responsibilities within the firm. Karen also provides regular training on VAT and payroll matters both within the firm and externally to other practitioners.
Karen sits on the Indirect Tax Committee of the Malta Institute of Accountants and the Education Committee of the IFSP.

EVENT CPE COMPETENCES

3  Core

WEBINARS TERMS AND CONDITIONS

Terms and conditions  apply

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Please note that all webinars are recorded by the MIA. Such recordings will be retained by the MIA for internal use.