VAT & Customs Management

Value Added Tax, Customs Management
" Online Certificate Course "
Registration Last Date: 5 September, 2024
Venue: House# 05 (1st Floor), Flat# 1-A, Road # 17, Block # D, Banani, Dhaka -1213

Introduction:

Valued Added Tax (VAT) is a very important matter of today’s life. Everybody comes across different aspects of VAT in course of his daily life and professional life. Be it an industry or any business house or any government or non-government office, there lies either the need for paying VAT or deducting VAT at source. All retail buyers require knowing the need for and importance of taking VAT Challan. So, it is important for everyone to obtain basic knowledge on VAT. It is more important for them whose decisions matter for their businesses, industries and offices. Moreover, people dealing with income tax, audit, management, finance, procurement, bills payable etc. sections in different businesses and industries require knowing many things regarding VAT, some of those matters are tricky in nature. Updated knowledge in the area is needed to lead a team in corporate houses. An executive or a corporate team leader not only requires to know the rules and regulations currently in practice but for promoting the purposes of the organizations, they require to know what rules and regulations are in the offing that will impact them. The Value Added Tax and Supplementary Duty Act, 2012 (new VAT law) has been passed by the parliament in 2012. Preparatory work is now going on to make the law fully effective from 1 July 2019. The executives and corporate leaders require knowing promptly what are the basic features of the new VAT law and how the new VAT law differs from the VAT law currently in force. The new VAT law shall be implemented through automated system. So, it also requires knowing what shall be the role of the VAT payers in the automated process. VAT deduction at source is a very important aspect of our VAT system today. People serving in the VDS withholding entities require knowing in details the provisions regarding VDS. This program is designed to provide the participants the VAT knowledge in these areas.

How will participants benefit after this training?

The purpose of this program is to provide the participants basic understanding regarding the features of the new VAT law and to make them understand how the new VAT law is different from the current VAT law (VAT Act, 1991). Another purpose is to make them understand the features of the automated system through which the new VAT law shall be implemented. In addition, providing working knowledge regarding the provisions of the current VDS system is also a purpose of this training. Thus, attending the program, the participants:

— Can develop knowledge regarding the basic features of the new VAT law & Customs law;
— Can develop knowledge regarding how the new VAT law is different from the current VAT law;
— Can understand the basic features of the automated system through which the new VAT law & Customs law shall be implemented;
— Can understand their role to implement the new VAT law;
— Can understand the basic provisions of current VDS system;
— Can plan strategies for their organizations ahead to face future challenges;

Contents of Training:

Day: 01

  • Basic Structure of NBR,
  • Structure of VAT Commissionerate and Field Offices,
  • Brief history of Value Added Tax (VAT),
  • Brief discussion on Indirect and Direct Tax,
  • Important Definitions of VAT Rate, SD Rate, Finance Bill & Finance Act,
  • Details discussion on SRO, GO, SP & Explanation
  • Brief discussion on 1st, 2nd & 3rd Schedule.
Day: 02

  • VAT Registration & Procedure,
  • Amendment of Registration,
  • Central VAT Registration & Procedure,
  • Unit Registration,
  • Turnover Tax Enlistment & Procedure,
  • Thresholds for Registration and Enlistment,
  • VAT Registration process through online (A Practical demonstration)
Day: 03

  • Process of Input-Output co-efficient declaration.
  • Base Value Calculation for VAT & SD.
  • SD impose & collection
  • Case Study (Input-Output co-efficient declaration)
  • Net Tax calculation & payment
  • Discussion on Export & Deemed Export.
Day: 04

  • VAT Accounting and bookkeeping – A Practical demonstration as per Rule 40 of     VAT & SD Rules, 2016,
  • VAT Invoice,
  • Obligation & Record keeping,
  • Credit note,
  • Debit note,
  • Transfer of Goods & Contract Manufacturing,
  • Importance & mandatory of Record keeping for Trader, Importer, Manufacturer & Exporter
Day: 05

  • Definition of Inputs,
  • Input Tax Credit (VAT Rebate),
  • Input Tax Credit Mechanism,
  • Where Input Tax Credit Allowed or Not,
  • Process of Advance Tax adjustment.
Day: 06

  • VAT Deduction at Source (VDS),
  • Required to deduct VAT,
  • Rate of VAT Deduction   at source,
  • Deducting Authority and their responsibility,
  • Procedure of deduction, deposit & record keeping.
  • How to handle VDS Audit by the Authority?
Day: 07

  • VAT Authority,
  • Power of Adjudication, Offences and Penalty Under VAT Act,
  • Appeal Procedure & required documentation,
  • Detail discussion on VAT Consultant & VAT Agent.
Day: 08

  •  Increasing & Decreasing Adjustment,
  • Preparation of VAT Return,
  • Full process of online VAT return submission (A Practical demonstration),
  • Correction of VAT Return
Day: 09

  • Import and Export Policy
  • Import / Export Banned Items Items,
  • Import & Export Under Certain Terms & Conditions,
  • Customs Assessment & Clearance Procedure, Provisional, Final & Re-assessment,
  • Various Duty Rates at Import Stage,
  • General Rules for Interpretation (GRI),
  • H.S. Code & Significance of H.S. Code,
  • Valuation of Goods (Import & Export),
  • WTO Valuation Rules, Calculation of Duty and Taxes,
  • Case Study (Duty Calculation)
Day: 10

  • Bonded Warehouse System in BD,
  • General, Special & Supervised Bond,
  • Diplomatic Bonded Warehouse,
  • Home Consumption Bond,
  • Deemed Exporter under Bond,
  • Bond License Rule, C&F agents and Their Responsibilities,
  • Untrue Statement (Misdeclaration),
  • Offence, Fine & Penalties under Customs Act, Advance Rulings
Price:

10,500.00৳ 

Course Details
Date
6th September to 5th October, 2024
Time
Night (7:00 PM to 9:00 PM)
Classes / Sessions
10
Class Schedule
Friday & Saturday (Every week)
Total Hours
20
- Entrepreneurs, Exporters, Importers, Suppliers, Manufacturers, - Senior/ Mid-level Business Executives of Import, Export and Industrial firms, - Accounts/Finance Executives, Manager/Sr. Manager (F & A), - VAT Practitioner/Consultant, VAT and Income Tax Payers.
Arrangement for tea-break would be made by the Organizer during the training.
M. Fakhrul Alam
Director General (Customs Intelligence & Investigation), National Board of Revenue
M. Fakhrul Alam, joined in BCS (Customs and VAT) Cadre in 1995. He is one of the panel trainer of VAT Online Project of NBR. He served as Second Secretary, (Customs Policy & Budget) of NBR in FY 2004-05, 2005-06 and 2006-07. He also worked as First Secretary,(Customs Policy & Budget) of NBR in FY 2016-17 and 2017-18 and 04 years as First Secretary (Budget Coordinator). During his last 23 years of service he has served Khulna, Jessore, Chattogram, LTU-VAT and Rajshahi VAT Commissionerate. Also served Benapole, Dhaka, Chattogram Custom House, Customs Intelligence and Bond Commissionerate in different capacities. He obtained training on Customs and VAT from home and abroad. He regularly conducts training program on VAT and Customs in VAT Online Project of NBR; FBCCI & DCCI, BRAC, RPATC; ICMAB, BTTI, ICSB, LFTIB, SCITI and training programs organized by different Business Groups, Banks and NGOs.

Introduction:

Valued Added Tax (VAT) is a very important matter of today’s life. Everybody comes across different aspects of VAT in course of his daily life and professional life. Be it an industry or any business house or any government or non-government office, there lies either the need for paying VAT or deducting VAT at source. All retail buyers require knowing the need for and importance of taking VAT Challan. So, it is important for everyone to obtain basic knowledge on VAT. It is more important for them whose decisions matter for their businesses, industries and offices. Moreover, people dealing with income tax, audit, management, finance, procurement, bills payable etc. sections in different businesses and industries require knowing many things regarding VAT, some of those matters are tricky in nature. Updated knowledge in the area is needed to lead a team in corporate houses. An executive or a corporate team leader not only requires to know the rules and regulations currently in practice but for promoting the purposes of the organizations, they require to know what rules and regulations are in the offing that will impact them. The Value Added Tax and Supplementary Duty Act, 2012 (new VAT law) has been passed by the parliament in 2012. Preparatory work is now going on to make the law fully effective from 1 July 2019. The executives and corporate leaders require knowing promptly what are the basic features of the new VAT law and how the new VAT law differs from the VAT law currently in force. The new VAT law shall be implemented through automated system. So, it also requires knowing what shall be the role of the VAT payers in the automated process. VAT deduction at source is a very important aspect of our VAT system today. People serving in the VDS withholding entities require knowing in details the provisions regarding VDS. This program is designed to provide the participants the VAT knowledge in these areas.

How will participants benefit after this training?

The purpose of this program is to provide the participants basic understanding regarding the features of the new VAT law and to make them understand how the new VAT law is different from the current VAT law (VAT Act, 1991). Another purpose is to make them understand the features of the automated system through which the new VAT law shall be implemented. In addition, providing working knowledge regarding the provisions of the current VDS system is also a purpose of this training. Thus, attending the program, the participants:

— Can develop knowledge regarding the basic features of the new VAT law & Customs law;
— Can develop knowledge regarding how the new VAT law is different from the current VAT law;
— Can understand the basic features of the automated system through which the new VAT law & Customs law shall be implemented;
— Can understand their role to implement the new VAT law;
— Can understand the basic provisions of current VDS system;
— Can plan strategies for their organizations ahead to face future challenges;

Contents of Training:

Day: 01

  • Basic Structure of NBR,
  • Structure of VAT Commissionerate and Field Offices,
  • Brief history of Value Added Tax (VAT),
  • Brief discussion on Indirect and Direct Tax,
  • Important Definitions of VAT Rate, SD Rate, Finance Bill & Finance Act,
  • Details discussion on SRO, GO, SP & Explanation
  • Brief discussion on 1st, 2nd & 3rd Schedule.
Day: 02

  • VAT Registration & Procedure,
  • Amendment of Registration,
  • Central VAT Registration & Procedure,
  • Unit Registration,
  • Turnover Tax Enlistment & Procedure,
  • Thresholds for Registration and Enlistment,
  • VAT Registration process through online (A Practical demonstration)
Day: 03

  • Process of Input-Output co-efficient declaration.
  • Base Value Calculation for VAT & SD.
  • SD impose & collection
  • Case Study (Input-Output co-efficient declaration)
  • Net Tax calculation & payment
  • Discussion on Export & Deemed Export.
Day: 04

  • VAT Accounting and bookkeeping – A Practical demonstration as per Rule 40 of     VAT & SD Rules, 2016,
  • VAT Invoice,
  • Obligation & Record keeping,
  • Credit note,
  • Debit note,
  • Transfer of Goods & Contract Manufacturing,
  • Importance & mandatory of Record keeping for Trader, Importer, Manufacturer & Exporter
Day: 05

  • Definition of Inputs,
  • Input Tax Credit (VAT Rebate),
  • Input Tax Credit Mechanism,
  • Where Input Tax Credit Allowed or Not,
  • Process of Advance Tax adjustment.
Day: 06

  • VAT Deduction at Source (VDS),
  • Required to deduct VAT,
  • Rate of VAT Deduction   at source,
  • Deducting Authority and their responsibility,
  • Procedure of deduction, deposit & record keeping.
  • How to handle VDS Audit by the Authority?
Day: 07

  • VAT Authority,
  • Power of Adjudication, Offences and Penalty Under VAT Act,
  • Appeal Procedure & required documentation,
  • Detail discussion on VAT Consultant & VAT Agent.
Day: 08

  •  Increasing & Decreasing Adjustment,
  • Preparation of VAT Return,
  • Full process of online VAT return submission (A Practical demonstration),
  • Correction of VAT Return
Day: 09

  • Import and Export Policy
  • Import / Export Banned Items Items,
  • Import & Export Under Certain Terms & Conditions,
  • Customs Assessment & Clearance Procedure, Provisional, Final & Re-assessment,
  • Various Duty Rates at Import Stage,
  • General Rules for Interpretation (GRI),
  • H.S. Code & Significance of H.S. Code,
  • Valuation of Goods (Import & Export),
  • WTO Valuation Rules, Calculation of Duty and Taxes,
  • Case Study (Duty Calculation)
Day: 10

  • Bonded Warehouse System in BD,
  • General, Special & Supervised Bond,
  • Diplomatic Bonded Warehouse,
  • Home Consumption Bond,
  • Deemed Exporter under Bond,
  • Bond License Rule, C&F agents and Their Responsibilities,
  • Untrue Statement (Misdeclaration),
  • Offence, Fine & Penalties under Customs Act, Advance Rulings