VAT on good : Basic rules (Luxembourg)

Training Plan:

Entrance quiz for training

Introduction

• How VAT works, introduction to VAT concepts and territories
• The five key VAT questions to consider when analyzing a transaction
• Definition of a taxable transaction and place of taxation: concept of a taxable person, transactions falling within the scope of VAT

Supplies of goods to taxable persons (B2B)

• Definition of a supply of goods and territoriality rules
• Domestic supplies
• Intra-Community supplies
• Exports
• Purchases of goods
• Intra-Community acquisitions
• Imports

Supplies of goods to non-taxable persons (B2C)

• Domestic supplies
• Intra-Community distance sales
• Distance sales of imported goods
• B2C exports

Other exemptions and VAT liability

•   Other exemptions applicable to domestic supplies

Person liable for VAT

• Domestic supplies
• Supplies with installation
• Distance sales of imported goods
• Triangular transactions

VAT reporting

• Determination of periodic reporting obligations
• Recapitulative statements – frequency
• Periodic VAT return (revenue, taxable purchases of goods, input VAT deduction on purchases, intra-Community supplies of goods, deadlines, etc.) 

Final assessment and issuance of a training completion certificate, along with communication of results

Training objectives and arrangements

Training objectives : 

• Definition of a taxable transaction (concept of a taxable person, transactions within the scope of VAT)
• Place of taxation for supplies of goods (B2B/B2C)
• Main exemptions
• Person liable for VAT
• Reporting in the VAT return

Duration: 4 hours   Format: Virtual class (inter-company or in-house)

Audience : 

• Tax managers
• Chartered accountants and accounting staff
• Purchasing or sales managers
• CEO wishing to understand the challenges of international VAT. 

Pricing: on request

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