Roundtable discussion on VAT complexities and optimal solutions.
15 October 2017, 8:30AM - 8:51AM, AST Manama, Bahrain
As the Gulf Cooperation Council (GCC) member states are gearing up to roll out VAT as scheduled in 2018 (expected in Bahrain by mid-2018), it is clear that the new tax system will impact businesses across all sectors, including Financial Services.
Given the complexity and volume of transactions they manage, financial institutions need to consider how VAT will be applied to their operations and determine the appropriate VAT treatment processes/systems for their business. Although the provisions in the GCC VAT framework agreement provide sufficient information for most businesses, banks still need further details on how to treat exempt product transactions.
KPMG in Bahrain is organizing a roundtable discussion on the impact of VAT on the Financial Services sector. The interactive discussion will highlight areas that require further clarity from the government. The findings will be summarized in a whitepaper report, which will be submitted to the competent authority to seek guidance, while facilitating further alignment between financial institutions and the government.
Awal Ballroom, Gulf Hotel
Philippe Norré, Partner and Head of Indirect Taxes at KPMG in Bahrain, will facilitate the discussion. He has a track record in providing VAT and indirect tax consultancy to key organizations across all industries including Financial Services. Most importantly, he has deep understanding of Bahrain and the region’s business environment. He has advised several Gulf Cooperation Council (GCC) government ministries on the development and implementation of their VAT laws and tax authority infrastructure. He has also advised companies and authorities on VAT and indirect taxes in Australia, India, Hungary and Armenia. This is in addition to serving as the personal advisor to the EU Commissioner for taxation.
Please register by sending an email to Khalid Seyadi (firstname.lastname@example.org) with your full name, company name and job title or contact him +973 17222313 for any further details.
Partner, Head of Tax and Corporate Services