Are you VAT ready? Establishing a cost-effective and efficient VAT framework
With oil prices declining, the Gulf Corporation Council countries are expecting to implement value-added tax to diversify their revenue basis. With the VAT regulations expected to be implemented by 2018, it is important that there is an adequate lead time to allow companies to prepare their systems, train staff and staff up for the introduction of the VAT regime. In a region where indirect tax is not the norm this presents many logistical, administrative and commercial challenges for businesses.
The GCC VAT Forum aims to highlight strategies that will combat these challenges and reduce the burden of VAT in an efficient, timely and cost-effective way.
So what can you expect from the GCC VAT Forum?