Connect with us

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website. .




Deloitte creates an English/Arabic online introductory guide about VAT

Though nothing has as of yet been confirmed, senior officials from Saudi Arabia, Oman and the UAE have all referred to implementing Value Added Tax (VAT) by GCC governments over the next two years and so it seems only a matter of timing rather that ‘if’ VAT will come. To that end, Deloitte held seminars in Dubai and Abu Dhabi during the last week of February to provide companies with a general understanding of VAT and its likely impact on their businesses. These seminars constitute the first of a series of seminars that will be held across the region.

More than two hundred and eighty business professionals attended the Deloitte seminars in Dubai and Abu Dhabi, chaired by Deloitte Indirect Tax specialists in the Middle East, Justin Whitehouse and Stuart Halstead. Bruce Hamilton, Director Goods and Sales Tax (GST) at Deloitte Malaysia, and Pierre Arman, Market Development Lead for Tax & Accounting at Thomson Reuters also provided their commentaries with regards to recent experience from the latest VAT implementation in the world and tax technology respectively.

“VAT implementation will be a major business issue and businesses would be well advised to consider the impact it may have on short to medium term business plans. Moreover, they need to consider pricing and working capital issues.” said Justin Whitehouse, Indirect tax leader at Deloitte Middle East.

As part of its continuous effort to support and provide guidance to firms throughout tax reforms, the Middle East Tax group at Deloitte has also created a free of charge bilingual online introductory guide about VAT. The guide discusses, amongst other areas, the drivers for implementing tax reform in the Middle East, key VAT principles and specific business issues aiming to provide an overall understanding of VAT.

“VAT is simple conceptually but in practice very complex and we hope our training is a first, small step, to helping local businesses address the implications of VAT implementation on their businesses in the GCC.” said Justin Whitehouse.

Businesses wishing to access the online training can contact Rizwana Bolar on [email protected].

Global Banking & Finance Review


Why waste money on news and opinions when you can access them for free?

Take advantage of our newsletter subscription and stay informed on the go!

By submitting this form, you are consenting to receive marketing emails from: Global Banking & Finance Review │ Banking │ Finance │ Technology. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Post