Studieguide

Student:
-understands VAT on Intra-Community trade and exports / imports
-can do the government reports required regarding value added taxation in international trade

Basics of Accounting

-inta-community supply on goods and services
-VAT on export/import
-reverse charge
-invoice requirement
-VAT refunds

(0) = fails to fulfill the requirements for 1

Students are familiar with special issues regarding VAT system for international business transactions outside the country's borders.
Students understand the requirements for an invoice in international trade.
Students are familiar with the VAT reports that should be submitted when working with international trade.

Students can handle issues regarding VAT in international business transactions, i.e. EU sales and purchases , export and import from an accounting perspective.
Students can create invoices with all the legal requirements for an invoice made in international trade.
Students are able to prepare and submit the VAT reports that the authorities need when conducting international trade.

Students can independently handle issues regarding VAT in international business transactions, i.e. EU sales and purchases , export and import from an accounting perspective.
Students can independently create invoices with all the legal requirements for an invoice made in international trade.
Students are able to independently prepare and submit the VAT reports that the authorities need when conducting international trade.

Cilla Salo

Tomperi, S. Kehittyvä kirjanpitotaito (last version)
Teaching material from Tax Administration
VAT legislation
Other material assigned by the teacher

Lecture material on:
- Intra-community supply of goods and services
- VAT on export/import
- Reverse charge
- Invoice requirements in international trade
- VAT refunds from abroad

Lectures
Exercises
Exam

Intra-community supply of goods and services
- VAT on export/import
- Reverse charge
- Invoice requirements in international trade
- VAT refunds from abroad

English

28.10.2024 - 08.12.2024

15.06.2024 - 28.10.2024

FEK23D-V

Faculty of Business

FEK23-I (Size: 40.

Cilla Salo

Degree Programme in Business Administration

0.00 credits

H-5

Guest lectures

Enligt överenskommelse med studerande i början av kursstarten.

Officiella omtentamenstillfällen 24/25.

Fre 17.1.2025 kl. 12-13.30
Fre 7.2.2025 kl. 12-13.30 (not translated)

Autumn 2024

24 hours of campus based teaching
20 hours different exercises
10 hours preparation for exam

Tot. 54h ( 2 times 27h)

(0) = fails to fulfill the requirements for 1

Satisfactory (1-2)

Intra-Community Supply of Goods and Services:
• Basic understanding of the concept.
• Can identify what constitutes an intra-community supply.
• Limited knowledge of documentation requirements.
VAT on Export/Import:
• Basic understanding of VAT on exports and imports.
• Can identify when VAT is applicable.
• Limited knowledge of customs procedures.
Reverse Charge:
• Basic understanding of the reverse charge mechanism.
• Can identify when reverse charge applies.
• Limited knowledge of accounting for reverse charge.
Invoice Requirements in International Trade:
• Basic understanding of invoice requirements.
• Can identify essential invoice elements.
• Limited knowledge of international invoicing standards.
VAT Refunds from Abroad:
• Basic understanding of VAT refund processes.
• Can identify when a VAT refund is applicable.
• Limited knowledge of the documentation required.

Good (3-4)

Intra-Community Supply of Goods and Services:
• Clear understanding of intra-community supply rules.
• Can explain the VAT treatment and necessary documentation.
• Knows the conditions for zero-rating intra-community supplies.
VAT on Export/Import:
• Clear understanding of VAT treatment on exports and imports.
• Can explain the difference between zero-rated exports and VAT on imports.
• Familiar with basic customs documentation.
Reverse Charge:
• Clear understanding of reverse charge rules.
• Can explain how to account for reverse charge in VAT returns.
• Knows the sectors and transactions where reverse charge is commonly applied.
Invoice Requirements in International Trade:
• Clear understanding of international invoice requirements.
• Can explain the necessary elements for compliance.
• Familiar with electronic invoicing and its benefits.
VAT Refunds from Abroad:
• Clear understanding of the VAT refund process.
• Can explain the steps to apply for a VAT refund.
• Familiar with the documentation and deadlines involved.

Excellent (5)

Intra-Community Supply of Goods and Services:
• Comprehensive knowledge of intra-community supply regulations.
• Can apply rules to complex scenarios.
• Fully understands the implications for VAT reporting and compliance.
VAT on Export/Import:
• In-depth knowledge of VAT regulations for exports and imports.
• Can navigate complex customs procedures and documentation.
• Fully understands the impact on VAT returns and compliance.
Reverse Charge:
• Comprehensive knowledge of reverse charge regulations.
• Can apply reverse charge rules to complex transactions.
• Fully understands the implications for VAT compliance and reporting.
Invoice Requirements in International Trade:
• In-depth knowledge of international invoicing regulations.
• Can create compliant invoices for various international transactions.
• Fully understands the implications for VAT reporting and audits.
VAT Refunds from Abroad:
• Comprehensive knowledge of VAT refund regulations.
• Can navigate complex refund applications and procedures.
• Fully understands the implications for cash flow and compliance