The Sharjah Chamber of Commerce & Industry (SCCI) said it had recently conducted the “VAT Agent” diploma course for Emirati graduates in collaboration with the PwC, one of the region’s leading professional services firm.

This comes as part of the SCCI’s constant efforts to develop the skills of the employees working in the chamber and in a number of Sharjah’s government institutions, as well as university graduates who are looking for a job opportunity in tax collection and compliance field, to be well-equipped with the necessary knowledge and skills to carry out their jobs in a professional manner, said a statement from the organisation.

Some 14 trainees from the SCCI, Sharjah Police and Sharjah Municipality employees working in accounting and financial management disciplines took the week-long diploma programme hosted by the Sharjah Development & Training Center of SCCI.

The participants underwent a specialised professional programme featuring a number of axes including; the mechanism for formulating a preliminary evaluation of the application of the VAT regime for operations and accounts, how to calculate the tax on purchase and sale of goods or services and a method of using the trial balance to compensate for the shortfall in the VAT, and assess its impact on various sectors, it added.

Maryam Saif Al Shamsi, assistant general director, support services sector, SCCI, said: “We pay particular attention to the specialised training courses and programmes, follows up on the recent developments that concern the business community in Sharjah to enhance legal and financial awareness and acquaint owners of companies and stakeholders with various aspects related to work systems, especially about VAT and mechanisms for dealing with it.”

Such events would help reinforce the knowledge of the SCCI members and workers in government institutions in Sharjah about the VAT and its various applications, and how it affects the business environment, Al Shamsi underlined.

“This diploma would greatly help the various institutions to build its tax capacity by making its employees aware of the details of the VAT legislation in the UAE and its implementation mechanism, its importance, and economic impact, in a way that leads to achieving the optimal service for customers, and preserves the financial rights of the stakeholders, and that enhances the financial system of Sharjah government,” she added.

Halil Erdem, assistant director of PwC’s Academy, shed light on the duties of the tax agent including the registration with the VAT authorities in the country, provision of advice and guidance in the field of filing periodic returns and the VAT calculation in the UAE.

The participants also got acquainted with the various aspects of value-added tax, its impact on the economy, and the steps taken to submit the tax return.-TradeArabia News Service