GCC, ARE YOU READY FOR THE INTRODUCTION OF VAT?
13 December 2017
On Tuesday, December 19th at 1pm KSA time | 2pm UAE time, BDO will be answering your questions about VAT introduction in the GCC region.The Speakers at the event, Brian Conn, partner at BDO UAE, Rami Alhadhrami, partner at BDO KUWAIT.
For registration: link
Earlier this year, the Member States of the Gulf Cooperation Council (GCC) signed the Unified VAT Agreement for the GCC. Based on this treaty, each of the six Member States must implement its own legislation. The introduction of VAT (value added tax) will affect all GCC based firms and represents a fundamental change to business operations in a region with little history of taxation. With current plans by both KSA & UAE governments to introduce the VAT from January 2018, many firms are still unprepared.
In response to this incredible regulatory shift, Marcus Evans together with Bearing Point held a webinar in September to address some immediate industry concerns. The webinar drew in more than 500 registrants across Gulf States and there were many questions regarding the implications of the VAT agreement for companies registered in free zones, including data privacy as well as invoices issues. With so many finance teams across the Gulf still grappling with preparations, it is time to examine this more deeply and provide the opportunity to have all those questions addressed.