Introduction

Value Added Tax (VAT) is one of the vital financial tools that plays an important role in enhancing government revenues and ensuring economic sustainability. With the increasing importance of this tax in the business world, it has become essential to have qualified specialists in this field to ensure compliance with local and international laws and regulations.

The VAT Specialist course provides the necessary knowledge and skills to comprehensively understand the VAT system. Through this course, you will learn how to apply laws, prepare tax reports, and deal with challenges related to tax compliance. Whether you work in the private or public sector, this course will help enhance your expertise and competence in managing VAT issues, contributing to your professional success.

Certification Authority

The certificate is awarded by the Saudi Organization for Auditors and Accountants, a professional body that leads the accounting and auditing profession in the Kingdom of Saudi Arabia through the knowledge and skills it possesses. Its aim is to improve and develop the practice, enhance its status, monitor the quality of its performance, raise awareness of its rules and behaviors, and strengthen its participation in serving the national economy and society. It works diligently to develop and support individuals, institutions, and various groups related to commercial work to increase trust and transparency in financial statements and protect investors and users of financial statements.

Objective of Obtaining the Certificate

• Participants will be qualified to pass the VAT Specialist exam provided by the Saudi Organization for Accountants and Auditors.
• Participants will understand the theoretical and practical framework of VAT comprehensively.
• Participants will recognize tax policies and their application scope in the field of taxation.
• Participants will learn the accounting and tax treatments related to VAT.
• Participants will identify real estate transactions subject to real estate transfer tax.

Benefits of Obtaining the Certificate

• It is the primary standard through which you can demonstrate your competence and professionalism in the field of VAT.
• A strong addition to your resume, opening more job opportunities in both the public and private sectors, as well as significantly increasing income.
• It allows holders the opportunity to obtain a license to provide consulting services in the field of taxation for various economic sectors.
• Opens more job opportunities at accounting, auditing, and financial consulting firms by providing scientific and practical skills and the ability to apply them in the job market.

Topics

• Principles of Financial Accounting
• General Framework of Taxation in the Kingdom of Saudi Arabia
• Theoretical and Practical Framework of Value Added Tax
• Tax Policies and Their Application Scope in the Field of Value Added Tax
• Accounting and Tax Treatments for Value Added Tax and Their Requirements
• Rights, Obligations, Penalties, and Management of Value Added Tax
• In-Depth Look at Key Sectors Covered by Value Added Tax
• Real Estate Transfer Tax

Eligibility for the Exam

Anyone wishing to obtain the VAT Specialist certificate can apply from the following categories:

1. Bachelor's degree or higher in accounting
2. Holders of one of the following professional certificates issued by the authority (Accounting Technician - Fellowship Certificate).
3. Holders of one of the fellowship certificates from the following international institutes: AICPA, ICAEW, CICA, CA Australia, ACCA, ICAP, ICAI.
4. Holders of a diploma or higher from one of the colleges of administrative sciences, provided that the applicant's academic record contains at least 6 accounting hours or fulfills the accounting hours in the methods approved by the General Secretariat or attends the preparatory program offered by the authority specific to tax specialists.

Exam Details

• The exam consists of 60 multiple-choice questions.
• The duration of the exam is 150 minutes.
• The passing rate is 60% out of 100%.
• Applicants may retake the exam 4 times, and if they do not pass on the 5th attempt, they must attend the preparatory program.
• The exam is currently held in Riyadh, Jeddah, and Dammam.
• The exam may be postponed for two consecutive sessions upon submission of a postponement request at least one week prior to the exam date.
• The entry fee for the exam or retake is 1,200 SAR.

Certification Recognition and Support in Saudi Arabia

• The certificate is supported by the Human Resources Fund (Hadaf) – Saudis can recover training and examination fees after passing all parts. 
• The maximum compensation for the certificate is 4,600 SAR. 
• The maximum compensation for training is 8,050 SAR. 
• The certificate has been approved for the support program since April 2021.

What the Preparatory Course Includes

• Valuable academic material prepared specifically by the center.
• A professional trainer specialized and certified.
• A dedicated WhatsApp group for attendees to follow up on trainees.
• Special rewards and benefits for successful candidates from the center.
• Follow-up with trainees and developing plans necessary for exam qualification.
• A certificate of attendance accredited by the Technical and Vocational Training Corporation.
• Practical applications, questions, and mock exams simulating the test.

Target Audience

• Employees of accounting, finance, and tax departments.
• Employees of accounting, auditing, and zakat offices.
• Graduates of accounting and finance departments.
• Tax return preparers in companies and institutions.
• Employees in the accounting department in the public and private sectors.
• Candidates for the VAT Specialist exam.