MANAMA: A specialised training programme that would lead to competence in value added tax (VAT) compilation and audit is being launched by the Mena Centre for Investment, which operates under the aegis of the Economic Development Board (EDB).
EDB senior economist Dr Hana Kanoo told a Press conference yesterday that seeing the lack of knowledge and skills about VAT, the implementation of which is imminent in Bahrain, the centre has sourced a focused training programme to assist businesses, finance and accounting professionals, as well as graduates to be trained in the VAT framework.
The programme has been developed by Philippines-based Vineyard Asia Technological College, which has also been assigned the task of delivering it in Bahrain, she added.
“This competency-based programme, developed under stringent guidelines by ISO 9001:2008 certified education agency TESDA, will help corporates and SMEs across the GCC to align accounting systems and introduce a smooth method to include VAT into the pricing process.”
According to her, it’s important to obtain specific VAT training because the tax authorities need to establish a seamless administration system.
The system includes registration and filing processes, communication and education to ensure that there is a clear guidance for businesses to comply with the requirements.
The course is recommended for all those in management, entrepreneurs and business owners especially of SMEs.
With its accounting focus, it would also benefit CFOs, finance directors, finance managers, accountants, account managers and auditors, she added.
“For fresh finance graduates and those in junior accounting roles, a certificate as a VAT compiler or a VAT auditor will greatly enhance career development and employability.”
Dr Kanoo said students need to complete 212 hours of course-work and sit two exams to be certified first as VAT compiler and then as VAT auditor.
The first edition of the programme is scheduled to begin on March 12 and it will be delivered over three months with four sessions per week.
The centre is in talks with the Bahrain Polytechnic and Bahrain Institute of Public Administration (BIPA) for hiring of their facilities for the course, she added.
The total course fee is BD720.