Are you VAT ready? Learning how to establish a cost-effective and efficient VAT framework for your business
The collection of VAT in certain parts of the GCC will commence in January 2018 meaning that businesses operating in region have limited time to prepare for its implementation. While the exact regulations surrounding the governance of VAT are yet to be announced, it is widely accepted and encourage by indirect tax experts that businesses begin preparing systems and processes and make themselves fully aware of the commercial implications to ensure a smooth transition into the VAT era.
In a statement released by PwC, the firm affirms that “Businesses need to start preparing in advance to be able to comply with the new tax obligations including charging, collecting and paying VAT and excise tax to the authority in a timely manner”.
It is evident then that the time for VAT is now! In light of this, we would like to encourage you to register to attend the GCC VAT Forum
this 30-31 August at the Dusit Thani Dubai
, where you will hear from and network with other business leaders and indirect tax experts as they discuss ideas for:
- Creating a winning VAT implementation strategy as the starting point to managing the implementation of VAT
- Preparing system and processes in order to build system requirements needed to effectively manage VAT
- Assessing and managing the commercial implications of VAT on your business
- Developing an HR strategy to ensure the right people are in place to manage VAT within your business