Dubai PR Network, Online Press Release from Dubai and Middle East
 
Economy & Statistics(Banking & Investments)
Filter PR by
  
UAE Ministry of Finance launches series of VAT and excise awareness sessions
 

Another step closer to VAT implementation in the GCC

Dubai, UAE, 15 March, 2017— The Ministry of Finance in the United Arab Emirates (UAE) has recently launched a series of Value Added Tax (VAT) and excise awareness sessions to present to advisors and businesses on the progress of VAT and excise implementation. The first such session is aimed at the advisory community, followed by later sessions aimed at the general business community. Full details of the sessions can be found at https://mof.gov.ae/en/pages/workshops.aspx.

These sessions are an important step towards the implementation of VAT and excise tax and will provide businesses with information to continue their planning process for VAT and excise. “Relevant individuals should visit the website and consider if they qualify for one of the sessions and register when they can” said Bruce Hamilton, Director, Indirect Tax, Deloitte Middle East.

VAT implementation is likely to be a significant challenge for most businesses operating in the Gulf Cooperation Council, and a sensible first step is to quantify the impacts and communicate these across the business. Deloitte considers that business impacts can generally be categorized in three broad areas: on a strategic level affecting the overall business, on an operational level influencing the day-to-day operations and on a financial level impacting the overall costs and cash flow.  

“Deloitte expects that the process for full implementation will typically span at least two to three years to be fully effective and businesses that fail to prepare in adequate time will inevitably be under pressure to comply during the transition period.” explains Nauman Ahmed, Partner and Middle East Tax leader at Deloitte.

Deloitte tax experts are working within the Gulf region to support businesses, and to prepare them for the upcoming changes in the most effective way. The full VAT implementation process developed addresses all of the business considerations and includes VAT function operating model design, solution implementation, and compliance readiness among others.

Posted by : Dubai PR Network Editorial Team
Viewed 3215 times
PR Category : Banking & Investments
Posted on : Wednesday, March 15, 2017  3:13:00 PM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of DubaiPRNetwork.com.
Previous Story : Forging Strong Relationships Such as Indo-UAE Is the Only Wa...
Next Story : Preparation for GCC VAT by 1 January 2018 requires immediate...
Email this article Print this article

Share this article with your friends and followers
NewsVine
Back to Section Home

Related Stories



 
 
Most Viewed Press Release posted in the last 7 days
Make a Statement with MAKE UP FOR EVER's New Artist Liquid Matte Lipsticks [14689-Views]
Paris Gallery Eid Gift Guide: The Watch Edit [14439-Views]
SAINT HONORE Opéra is Ideal for the Stylish Woman [13743-Views]
Joyalukkas Win Upto 60 KG gold promotion Lucky winner announced in the UAE [13292-Views]
LG G6: The Ideal Summer Vacation Companion [13152-Views]
SAINT HONORE Charisma Twist [13146-Views]
Lucky Winners celebrate winning gold bars with Malabar Gold & Diamonds – ‘BE A GOLD BULLIO... [11218-Views]
Skyline University College Conducted Health and Wellness Program [10644-Views]
Gold Collagen® Hydrogel Mask with Second Skin Technology to Launch in Dubai in July 2017 ... [10620-Views]
THEFACESHOP, White Seed brightening [10468-Views]
IKEA Reveals Hidden Shortcuts as Father's Day Gift [10327-Views]
Celebrate This Eid by Honouring your Loved Ones with a Special Gift [10236-Views]
TAG Heuer Luxury Kit [9803-Views]
Bhima Jewellers Spread Happiness this Ramadan with ‘BHIMA GIFT A SMILE' [9370-Views]
Keep your skin hydrated this summer with tips from Gold Collagen! [8851-Views]
Marion Cotillard wears Chloé to 31st Cabourg Film Festival [8656-Views]
TOD's Spring/Summer '18 Men's Collection [8302-Views]
Dubai will be ‘United in Celebration' during 10th Edition of ‘Eid in Dubai- Eid Al Fitr' [8150-Views]
Al Barwani Wins 2017 Ramadan Challenge Senior Cup Title [8125-Views]
Take A Sneak-peek into COÉGA Sunwear's 2018 Baby Swimwear Line [8101-Views]
Dsquared2 Men's and Women's Fall Winter 2017 Show [7973-Views]
deLaCour Saqra Urban- Triumph Design [7851-Views]
Celebrate Eid in 'Swiss Style' with stunning RAYMOND WEIL Freelancer [7552-Views]
The Salman and Katrina relationship with Splash continues [7436-Views]
Eid Al Fitr 2017 [7418-Views]
 
RSS Facebook Twitter LinkedDin
 
Top Sections
 
Top Stories