Are you ready for the introduction of Value Added Tax (VAT)
in the Gulf Cooperation Council (GCC)?
Register now and attend PwC’s webcast
“VAT in the GCC”
on 8 June at 4:00 pm CET
With the anticipated introduction of Value Added Tax (VAT) in the GCC, there are implications that you will need to understand in order to prepare and respond. As the date VAT will come into effect is expected to be as early as January 1, 2018 in certain member states, businesses operating across the GCC will need to activate their VAT implementation plans, if not already substantially underway. There is a relatively short time frame in which to consider the implications of the introduction of VAT and to make the necessary changes. Businesses may need to consideration the VAT impact on their transactions now and start to plan how to have the right VAT technical, systems, financial, tax governance and compliance, training and other areas in order to comply with the new VAT requirements.
During May we have seen further milestones towards the implementation of VAT across the GCC. The Unified Agreement for VAT was published in the official gazette of one of the member states, Saudi Arabia. The Unified VAT Agreement provides the framework for the introduction of VAT across the GCC. Each GCC member state will implement the framework through its national legislation. The Qatari Cabinet has approved, in principle, the national VAT law. The legislation has not yet been made public and will have to be approved by other areas of government before being formally adopted.
On 8 June we will host a global indirect tax webcast on the implementation of VAT in the GCC. Our panel of ITX GCC specialist will discuss why these milestone are reasons for companies operating in the Middle East to put in place or further their VAT implementation plans. You will have the opportunity to ask the panel questions during this live webcast. We do hope that you can join us.
