With the progressive implementation in 2018 and the representatives of the Member States of the GCC having agreed on a formal VAT system Treaty across all six Member States, businesses need to start looking in detail at the potential impacts this implementation will have on businesses.
To help businesses in the GCC understand the potential impacts of the implementation of, and operation under, VAT, Deloitte in the Middle East has created a free and interactive mobile application to help teach, guide, and influence businesses and individuals alike to understand VAT and how it will impact their companies in the Gulf region once implemented.
The Deloitte app is available for iOS and Android devices and it is broken down into different sections that are easy to navigate. It contains learning materials such as whitepapers, videos, industry impacts, e-learnings, infographics and treaties and local laws to help further their understanding. To test their VAT knowledge, individuals will be able to try basic and advanced level quizzes with unlimited tries. Also included in the Deloitte app is a VAT calculator to calculate costs once the 5% VAT rate is applied and to understand how VAT interacts with customs duty.
“The Deloitte app will surely accelerate the VAT journey of businesses and individuals and will enable them to get in touch with Deloitte’s VAT and customs experts,” said Justin Whitehouse, partner and Deloitte Middle East Indirect Tax leader “The app offers a live knowledge base where professionals can access essential VAT information anywhere using their devices and can get instant and live push notifications of any VAT developments happening throughout the region.”
The app can be downloaded on the following links: