Value Added Tax (VAT) Compliance
An Early Assessment of the Possible Impact VAT May Have on Your Transactions
and GCC Trade
10 – 11 September 2017 in Dubai, United Arab Emirates
Dear Leaders,
Workshop Overview:
The GCC Member States are in the process of approving the long anticipated
common framework for the introduction of a Value Added Tax (VAT) system in the
GCC. The common VAT framework will form the basis for the introduction of a
national VAT system by each Member State.
While there are a number of challenges that still need to be addressed before
it is introduced, VAT will help governments to deliver on long-standing plans
for economic diversification away from oil, while still being able to deliver
social and economic programmes.
VAT is expected to be introduced at a rate of 5% with some limited exceptions
including basic food items, healthcare and education. The UAE are planning to
implement on 1 January 2018 - other GCC countries may do so at the same time or
by 1 January 2019 at the latest.
Businesses in the UAE (and GCC) should start planning now how the changes could
impact their business, to ensure a smooth transition. This course will help you
achieve exactly that.
Benefits of Attending:
· UNDERSTAND the concept of VAT and its impact on the economy
· UNDERSTAND the impact of VAT on the operational and financial
performance of the business
· DIFFERENTIATE various type of supplies with reference to VAT
· DIFFERENTIATE Input VAT and Output VAT
· CATEGORIZE the supplies for VAT calculation
· UNDERSTAND the impact of VAT on the Imports and Exports to the member
countries (Gulf Region) and nonmember countries (rest of the world)
· PREPARE the invoices including VAT
· UNDERSTAND the VAT registration process and prepare required
documents for VAT registration
· UNDERSTAND VAT administration, fines and penalties related to VAT
filing
· IDENTIFY common errors in VAT calculation
Enquiry and Registration:
For more information and registration, do send an email to
[email protected] with the following subject title:
Dubai Session: VAT-DBX
For any other inquiries, please do not hesitate to contact Catherine at +65
6825 9599 / +65 8748 8871 (whatsapp only) or email at
[email protected]
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