KPMG, one of the world’s leading international firms offering professional services in audit, tax and advisory
14 February 2017, 10:00AM - 1:00PM, AST Kuwait City, Kuwait
KPMG, one of the world’s leading international firms offering professional services in audit, tax and advisory will conduct a briefing on the proposed introduction of Value Added Tax (“VAT”) with a focus on the retail and automotive sectors in Kuwait. The seminar will be held on 14 February 2017 at the KPMG Training Center, which is located on the 25th floor of the Al Hamra Tower – Kuwait.
While formal announcement of the GCC VAT agreement is awaited, on 1 February 2017 Bahrain announced that they have signed the unified VAT GCC agreement and will establish an independent tax authority to administer VAT, for implementation by mid-2018. This follows the Saudi cabinet announcement on 30 January 2017 approving VAT to be implemented in 2018 in a session chaired by King Salman.
The seminar would provide the audience with an overview of VAT fundamentals based on legislation in countries that have implemented VAT. The session would not only highlight the VAT impact on retail and automotive sector but would also focus on other areas of business that would need changes. These areas include, IT systems update and configuration, review of supply chain to identify any VAT leakages, business process and review of contracts.