C3048 - Value added tax
Target Audience
Anyone wishing to understand the mechanisms of VAT.
Objectives
- Understand the general history and mechanisms of VAT.
- Learn the 5 major concepts of VAT : the taxable person, the taxable operation, the place of supply, exemption and the person responsible for VAT.
- Distinguish between the supply of goods and the supply of services.
- Understand the principal VAT exemptions and VAT rates in Luxembourg.
- Understand concepts linked to the person responsible for VAT, including the chargeable event and taxable basis.
- Understand the processes for VAT recovery.
- Learn how VAT applies domestically or across borders, including on particular transactions : sale of goods, Real Estate and Financial Services.
- Description of the administrative procedures and compliance obligations related to VAT.
Prerequisites
None.
Notes
Candidates must attend at least 10 sessions in order to be allowed to sit the exam.
