The Advent of a Tax Regime in GCC | 12 December 2017

SKP Group conducted an informative event at the Capital Club, DIFC in Dubai on 12 December 2017 along with Gulf Business to delve into the intricacies of the UAE VAT Law.

The event hosted senior management participants from various industries, who had queries with regards to VAT’s implications on their business. Bhadresh Vyas, associate director for indirect tax at SKP, began the session by highlighting the key points of the UAE VAT Law such as registrations, computation of tax liability, rate of supply, place of supply, payments, etc.

The event progressed into an interactive discussion as Jigar Doshi, partner for indirect tax at SKP, enlightened the audience of the VAT impact on different industries and how crucial it is for businesses to assess its impact on working capital, cash flows, IT systems upgrades, reviewing existing contracts and setting up compliance management.

Umang Someshwar, associate director at SKP, moderated the panel discussion towards the end that included speakers Shiraz Khan – a senior tax advisor – and Geoff Finlayson – finance director at Al Tamimi.

The panellists addressed various industry related concerns including strategies to be VAT compliant and explained how to turn the VAT transition challenge into an opportunity to make business more process driven and transparent.

The active participation of the audience and insights of the speakers enabled the attendees to gain a much better understanding of VAT and the opportunities available for businesses in the new indirect tax regime.

Top 5 developments in GCC VAT
 

Top 5 developments in GCC VAT

Procedural and Reporting Requirements under VAT in UAE

Procedural and Reporting Requirements under VAT in UAE

Dos and Don’ts for businesses to be VAT compliant in the UAE

Dos and Don’ts for businesses to be VAT compliant in the UAE

 

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