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VAT compliance for Bahrain businesses in KSA and UAE

To do or not to do in Bahrain and abroad.

12 March 2018, 8:30AM - 1:00PM, AST Manama, Bahrain

Value-added tax (VAT) has now been live in the Kingdom of Saudi Arabia (KSA) and the United Arab Emirates (UAE) for 2 months and businesses with operations in either one or both countries continue to face challenges. This goes from understanding the applicable VAT treatment to their outgoing and incoming transactions, technology and government interaction (or equal poor knowledge) to IT set-ups to address the compliance needs.

We now have seen a first (smaller) wave of VAT compliance exercises by businesses and several lessons can be learned varying from end-to-end process control implementation, transaction booking and records keeping to the actual completion of tax returns and filing principles.

KPMG in Bahrain is pleased to invite you to a seminar that will review the lessons learned and the action points to roll out in the next periods to ensure a seamless “VAT compliance in KSA and UAE”. The seminar is aimed at Bahraini companies with operations in UAE and KSA to enable them to manage the new tax compliance burdens. We will step away from concepts and review important and sometimes forgotten operational aspects required for correct and value-add tax compliance.

Not only Bahrain based companies with activities abroad will benefit from the seminar. We will also cover solutions and approaches for tax compliance in Bahrain that now have proven their merit elsewhere in the GCC region and place these in the right context for businesses to make the right decision based on their tailored needs.

Important practical issues will be tackled that give businesses headaches. These include the VAT treatment of trade between a GCC state, which has implemented VAT, and one that has yet to implement VAT (like Bahrain). Designated zones in the UAE and the concept of reverse charge (including the set-up into the systems) will also be discussed in addition to the strategy to respond to suppliers and clients already working under the VAT system in KSA and UAE.

Finally, we will be giving a status update on the implementation of VAT in Bahrain. Philippe Norré, Tax & Legal Partner and Head of Indirect Taxes at KPMG in Bahrain will be the keynote speaker.
 

Who should attend?

The seminar is aimed at adding value to Heads of Finance, Finance managers, Internal Auditors and COOs across all sectors. If you are looking to gain deeper insight on the impact of VAT on various business
functions and the steps required to achieve cost-effective and added-value compliance, you will not be disappointed when attending.

Agenda

  • 08:30am – 09:00am: Arrival and breakfast.
  • 09:00am – 9:30am: Welcome and introduction – status update and insights on VAT in the GCC and Bahrain.
  • 9:30am – 10:15am: VAT compliance and intra GCC trade. Business strategy, communications and control framework.
  • 10:15am – 11:00am: How to prepare tax returns – pitfalls, lessons learned from wave 1 in neighboring countries, suggestions to Bahrain government.
  • 11:00am – 11:45am: How to automate the process – automation within the systems, add-on technologies, pricing points, timelines, demos.
  • 11:45am – 12:00pm: Tax agents in KSA and expected approach in Bahrain.
  • 12:00pm – 12:30pm: First 60 days VAT challenges – how to handle and how to avoid these issues in Bahrain.
  • 12:30pm – 01:00pm: Q & A.

Registration

Please register by email Khalid Seyadi at kseyadi@kpmg.com with the full name, company name, and job title of the attendees.

We look for ward to seeing you there.

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