Tax Happy Hour: Basic Vat Introduction
Value Added Tax (VAT) is a type of indirect tax that is imposed on the value added to goods and services at each stage of production or distribution. Unlike income tax, which is paid by individuals or businesses on their earnings, VAT is collected by businesses on behalf of the government and is ultimately borne by the final consumer.
1 CPD unit October 22, 2025
What will set you apart
By completing this course you will gain the following competencies
- What VAT Is:
- Definition and purpose of VAT.
- How VAT fits into the broader tax system.
- How VAT Works:
- The concept of input tax vs. output tax.
- How VAT is charged, collected, and paid.
- Basic supply chain flow of VAT.
- VAT Registration:
- When and why businesses must register for VAT.
- Thresholds and obligations.
- VAT Rates and Categories:
- Standard, reduced, zero-rated, and exempt supplies.
- Real-world examples of each.
- VAT Invoicing and Record Keeping:
- Requirements for VAT-compliant invoices.
- What records must be kept and for how long.
- VAT Returns and Payments:
- How and when to file VAT returns.
- Penalties for late submission or errors.
- Input VAT Recovery:
- Which business expenses are eligible for VAT recovery.
- Common disallowed inputs.
- Common Mistakes and How to Avoid Them:
- Practical advice on compliance and audits.
Event breakdown
- TBA
Category: TaxationType: CPD CourseCPD category: Taxation
Description
Value Added Tax (VAT) is a type of indirect tax that is imposed on the value added to goods and services at each stage of production or distribution. Unlike income tax, which is paid by individuals or businesses on their earnings, VAT is collected by businesses on behalf of the government and is ultimately borne by the final consumer.
You will earn a certificate
On successful completion you will receive a certificate for 1 CPD unit in Taxation.
Requirements
- Laptop, desktop, or mobile device with internet access
- Microsoft Edge, Google Chrome, Safari, or Firefox browser