Open Entry Certificate Course

Who should attend?
The target group for this seminar is comprised of business owners, managers of micro, small and medium businesses as well as accounting personnel.

Objectives
At the end of the training seminar, participants will be able to:

• Explain how the general consumption tax works (GCT).
• Describe the obligations of each registered taxpayer to the tax administration.
• Determine when the tax is to be charged and accounted for in books of the registered taxpayer.
• Calculate the GCT payable or creditable at the end of the taxable period.
• Calculate the tax credits which a registered taxpayer is entitled to claim in a variety of circumstances.
• Prepare GCT returns for filing with the tax administration
• Describe the powers of the tax administration to raise GCT assessments and enforce collection.
• Identify the rights and the main duties of each registered taxpayer
• Explain the circumstances in which GCT penalties, surcharges and interest are applied.

• GCT as an indirect tax, a goods and services tax, a general tax, a consumer tax and value- added tax
• Registration concepts and exemption from tax
• The charging provisions
• Rates of tax; the standard rate, the zero rate and other rates
• Valuation rules: local supplies and imported goods
• Other supply provisions: time and place of supply
• Tax credits
• Calculation of net tax and GCT returns
• Accounting bases: invoice basis and payment basis
• Penalties, surcharges and interest

Click here for Application Form

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Registration / Student Support For further information, contact: Mrs. Maxine Watts mwatts@uccjm.com OR Mrs. Sonja Campbell scampbell@uccjm.com Phone: (876) 929-2830 Fax    : (876) 968-4964 The University College of the Caribbean 6 Belmont Road Kingston 5 Jamaica,W.I. (hours:  8:30:am - 5:30 pm Mon-Fri Eastern) (visits: welcome via appointment)