Training and tax researches sector. Professional Tax Accountant Certificate PTAC

Transcription

1 Training and tax researches sector Professional Tax Accountant Certificate PTAC

2 Introduction As ATC Management Consultants, member of Geneva Group International has in-depth experience in all taxation areas and for being firmly convinced that training contributes significantly to the promotion and advancement of professional level of clients in particular and all accountants and financial managers in general, therefore, ATC Management Consultants, in cooperation with Egyptian Tax Experts Association (E.T.E.A.), has designed an extensive educational course to grant a certificate of Professional Tax Accountant (PTA) aiming to reach a complete and full fledged distinguished taxation system. Dr. Ahmed Abdel Hakim Head of Training & Researches Sector ATC Management Consultants

3 PTA term of study Six months are required to study and absorb the scientific materials to set for intermediate exam while another six months are required to set for final exam which is held twice a year. Following is a table indicating approved hours, term, dates of holding exams and lectures Days. First: Intermediate exam - Study of materials qualifying for intermediate exam starts on first of December and June each year. - Days of study are Fridays & Saturdays / Mondays & Wednesdays each week at one lecture for each subject. Serial Description 1 st exam 2 nd exam Friday Saturday Monday Wednesday 1 Deferred tax accounting Tax accounting Advanced accounting studies & their tax implications Tax accounting for specialized firms No. of hours approved for each subject (48 hours). - The intermediate exam shall be held in the third week of May and November each year. Second: Final exam - Study of materials qualifying for the final exam starts on the 1 st of December and June each year. Study - Study takes on Sundays and Tuesdays of each week at one lecture every week for each subject. Serial Description Days of lectures Sunday Tuesday 1 Advance tax accounting for specialized firms Financial & tax planning Tax auditing International tax treaties No. of hours approved for each subject (48 hours). - Final exam is held yearly on the fourth week of May and November each year

4 Areas of training & tax researches Special training programs (contractual) Training programs in financing & financial management areas Training programs in areas of accounting & tax auditing Training programs in areas of accounting & tax auditing Training programs in specialized activity (accounting & tax auditing) Various programs in accounting & tax auditing Training course for granting Professional Tax Accountant (PTA) Professional Tax Accountant Certificate PTAC Tax accounting Advanced accounting studies & their tax implications Professional tax accountant (Intermediate exam) Tax accounting of specialized firms Deferred tax accounting Advanced

5 tax accounting of specialized firms Tax auditing PT Accountant (Final exam) Finance & tax planning International Tax treaties Advanced accounting studies and its tax implications (1) Accounting for changes in exchange rates implications. (2) Accounting for foreign branches & implications (3)Accounting for long term contracting agreements. (4) Accounting for interrelated parties transactions. (5)Accounting for financing structure costs. (6) Merges. (7) Combined financial statements. (8) Cash flows statements for estimation of fair value of equity instrument. (9) Fair value of equity instruments. (10) Accounting for financial instruments. (11) International financial instruments. (12) Accounting policies and changes in accounting assessments and errors. (13) Costs and expenses supported by documents Advanced tax accounting for specialized firms (1) Real Estate accounting (2) Financing lease accounting (3) Banks accounting (4) Insurance companies accounting (5) Peal Estate financing accounting

6 (6) Securitization accounting (7) Mutual funds accounting (8) Accounting for setting off companies (9) Accounting for securities negotiation (10)Hotels accounting (11) Hospitals accounting (12)Travel agencies accounting (13)Oil companies accounting Deferred tax accounting (1) Introduction to deferred tax (concepts & Importance) (2) Acknowledgment and measurement of tax assets & liabilities-current and deferred (3) Deferred tax on fixed assets and their depreciation (4) Deferred tax on tax losses carried forward (5) Deferred tax on provisions & impairment (6) Deferred tax on financial instruments (financial instruments of all kinds) (7) Deferred tax on transactions combined (8) Deferred tax on combined financial statements (9) Presentation and disclosure in the financial statements (deferred tax assets and liabilities)

7 Tax accounting Accounting for income tax Accounting for sales tax Accounting for wages tax and its equivalent Accounting for stamp tax Accounting for real estate tax Introduction to income tax Tax Accounting on natural persons income Tax accounting on profits of corporate bodies Accounting for taxes withheld Accounting for withholding & collection, down payments on an account of tax Tax procedures (notices-assessment-seizure-appeal) Tax penalties Kinds of tax returns Income tax relation with other taxes Financial & Tax planning (1) - Financial and tax planning (concept-importance-objectives &advantages). (2) - Tax planning in relation to financial planning (3)- Egyptian accounting standards and tax planning service. (4) Analysis of historical tax returns for servicing tax planning. (5)-Tax planning and expected tax returns. (6)- Tax planning & deferred tax (7)-Tax panning and financial local and international resolutions (8)Committee of prior opinion and its relation to tax planning (9)International tax treaties and its relation to tax planning (10)How to prepare a comprehensive tax planning for corporate bodies

8 Auditing & Tax Verification Introduction of tax auditing (concept-importance-objectives) Assignment of tax auditing and communicating with the ex auditor Tax planning of financial statements Studying of internal audit for servicing tax auditing Communicating with officers in charge of governance for servicing tax auditing Evaluation of tax risks and its relation to tax auditing Tax auditing procedures for meeting risks assessed Documents supporting tax auditing Documentation of tax audit Analytical auditing for service of tax audit Resolutions of the company management for service of tax audit Tax auditing and auditor's report Tax auditing report Tax auditing & tax return International Tax treaties Introduction to international treaties Study and analysis of international tax treaties International tax treaties and Egyptian tax legislation International tax treaties and tax planning Targeted professionals of PTAC (1) Faculty of commerce graduates or its equivalent (2) Financial managers of companies and chief accountants (3) Accountants at banks, Insurance-Peal estate- financing lease etc (4) Accountants of auditing & Accounting firms

9 Benefits of PTAC for participants (!) Participants shall study all kinds of tax (2) Participants shall study Egyptian accounting standards in relation to provisions of tax law to have in depth knowledge of agreement and disagreement points and the implication upon Egyptian tax accounting (3) The participant shall have the opportunity to be deeply acquainted with tax accounting of activities of special nature such as (banks-insurance-companieshotels-oil companies) (4) The participant shall study tax auditing and inspection, its elements and bases (5) The trainee shall benefit from tax avoidance advantages available at tax laws through in dept study of tax planning (6) Participant shall be able to relate financial planning o tax planning as tax planning is one of the financial planning pillars (7) PTA certificate gives the opportunity to employment at major companies in Egypt. Also distinguished graduates shall be the targeted employees for all ATC group (accounting- auditing- taxation- financial and consultancy) General requirements to obtain PTA certificate (1) Holding faculty of commerce or its equivalent "major accounting" (2) Having studied subject materials qualifying for intermediate exam at score of 75% at least (3) Having studied subject materials qualifying for final exam at score of 75% at least and the participants shall not submit to r final exam unless after passing intermediate exam at said percentage (4) In order to pass the intermediate or final exam, the holder shall obtain 65% at least for each subject material with accumulation rated 75%. If the participant has not achieved such percentage, he shall select any of the materials to restudy to arrive at the required percentage. He shall be entitled for this procedure twice. If ho could not pass, he shall be required to study all materials. Again.

10 If the participant passed the qualifying materials whether in the intermediate or final exam at 75% at least and his score in one material or two at most has been less than 65% in any of the two materials, he shall be requested to restudy such one or two materials for one time. If he did not achieve the targeted score, he must restudy all materials once again. Period of study of materials qualifying for intermediate exam is six months Period of study qualifying for final exam is six months. Accreditation of PTAC 1. This certificate shall be approved by ATC Ashraf Abdel Ghani (Accountants & Tax Consultants), which is the original awarding party. 2. It shall be approved by Egyptian Tax Authority based on agreement therewith. 3. Geneva Group International ranked 7 th worldwide; the foreign partner with ATC shall also approve such certificate. 4. It shall be approved by Egyptian Minister of Foreign Affairs. Holders of other professional certificates to join PTAC course - Holder of MA in tax accounting shall be exempted from intermediate exam while holder of PhD in tax accounting shall be exempted from both intermediate and final exams (he shall study only two subject materials "Tax planning" & "International tax treaties"). - Holders CPA or ACCA shall be exempted from advanced accounting studies and its tax implications. They shall also be exempted from deferred tax accounting material whether in the intermediate or in final exam. - Holders of Egyptian Tax Experts Association shall be exempted from study of tax accounting in intermediate exam. Cost of PTAC attainment 1. L.E per material in the intermediate exam. 2. L.E per material in the final exam. 3. Cost is inclusive of attendance, and coffee break during break hour. 4. Special rate shall be granted to companies groups provided each group shall be composed of at least 15 participants. Various training programs (TAX) 1. Tax accounting of natural persons. 2. Tax accounting of corporate bodies. 3. Tax accounting of banks & insurers.

11 4. Tax accounting of hotels & tourism. 5. Tax accounting of contracting operations. 6. Tax accounting of oil companies. 7. Salary tax & equivalent. 8. Withholding & collection, down payments on account of tax. 9. Sales tax accounting. 10. Stamp tax accounting. 11. Tax auditing for financial statements of corporate bodies. 12. Egyptian accounting standards & their tax implications. 13. Tax planning. 14. Foundation of tax departments in companies. 15. Tax implication of financial statements issued for banks by Central Bank of Egypt. 16. Financial instruments & its tax implications. 17. Deferred tax accounting. 18. Tax implication of consolidated financial statements. 19. Accounting of deferred tax for mergers & control. 20. Tax accounting of financing lease companies. 21. Tax accounting of securitization companies. 22. Tax accounting of real estate companies. 23. Tax accounting of mutual funds. 24. Tax accounting of travel agencies. 25. Tax accounting of real estate companies. 26. Tax accounting of hotels. 27. Tax accounting of hospitals. 28. Tax accounting of securities trading companies. 29. Accounting of interrelated persons & its tax implications. Various training programs (ACCOUNTING) 1. Egyptian accounting standards. 2. Standards of financial statements presented for banks, issued by Central Bank of Egypt. 3. Financial & tax planning. 4. Financial evaluation (neutral price fair value). 5. Advanced financial analysis. 6. International auditing standards & their applications. 7. Advanced financial accounting. 8. Advanced administrative accounting. 9. Industrial costs accounting. 10. Preparing presentation & reading the financial statements. 11. Accounting for financing lease activity. 12. Real estate accounting. 13. Accounting for securitization. 14. Accounting for mutual funds. 15. Accounting for financial instruments. 16. Consolidated financial instruments at the date of merger consolidated financial statements at a date subsequent to merger. 17. Consolidated financial statements for group companies (holding & affiliated). 18. Accounting for hotels. 19. Accounting for travel agencies. 20. Accounting for hospitals. 21. Control or acquisition & consolidated financial statements.

12 22. Accounting for transaction between related persons. 23. Accounting for insurance companies (life property). 24. Listing & trading in stock exchange. 25. Control & internal audit. 26. Companies governance. 27. Banks Governance.