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It is time for businesses to start preparing for VAT implementation, says Deloitte
Source: Deloitte , Author: Posted by BI-ME staff
Posted: Mon May 15, 2017 12:18 pm

SAUDI ARABIA. The Saudi Tax Authority has published Frequently Asked Questions (FAQs) on its website announcing it will introduce VAT as of 1 January 2018. The Bahrain Ministry of Finance earlier this year confirmed that Bahrain has also signed the GCC VAT Treaty. 

To help equip businesses and keep clients abreast of all Value Added Tax (VAT) developments in the GCC following the Kingdom of Saudi Arabia recent publishing of the Gulf Cooperation Council (GCC) VAT Treaty, Deloitte is hosting a VAT academy in KSA and Bahrain in May 2017.

“The key question for businesses right now is how long will it take my business to get ready? If businesses have not already started, now is the time for them to start preparing and analyzing in detail what the implications of VAT implementation are,” explains Nauman Ahmed, Partner and Middle East Tax leader at Deloitte.

"The VAT Academy in KSA will be held on the 21st of May in Jeddah and 22nd of May in Riyadh. The VAT Academy for Bahrain, which will cover the Eastern province of Saudi Arabia, will be held on the 23rd of May.

“The Deloitte VAT Academy is designed for legal, tax and finance experts who want to have a better understanding from experts on the VAT legal framework. The course is aimed at analyzing the VAT framework and look further at the detailed consequences of the framework for a KSA and Bahraini business in its domestic dealings, and its business within the GCC and the wider world,” explains Justin Whitehouse, Middle East Indirect Tax leader at Deloitte.

To register for the VAT academy, please click this link.

Photo Caption:  Nauman Ahmed, Partner and Middle East Tax leader at Deloitte. 

About Deloitte:
Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (“DTTL”), its network of member firms, and their related entities. DTTL and each of its member firms are legally separate and independent entities. DTTL (also referred to as “Deloitte Global”) does not provide services to clients.

Please see www.deloitte.com/about for a more detailed description of DTTL and its member firms.  

Deloitte provides audit, consulting, financial advisory, risk management, tax and related services to public and private clients spanning multiple industries. With a globally connected network of member firms in more than 150 countries and territories, Deloitte brings world-class capabilities and high-quality service to clients, delivering the insights they need to address their most complex business challenges. Deloitte’s more than 220,000 professionals are committed to making an impact that matters.
 
About Deloitte & Touche (M.E.):
Deloitte & Touche (M.E.) is a member firm of Deloitte Touche Tohmatsu Limited (DTTL) and is a leading professional services firm established in the Middle East region with uninterrupted presence since 1926.

Deloitte provides audit, tax, consulting, and financial advisory services through 26 offices in 15 countries with more than 3,300 partners, directors and staff. It is a Tier 1 Tax advisor in the GCC region since 2010 (according to the International Tax Review World Tax Rankings).

It has also received numerous awards in the last few years which include best employer in the Middle East, best consulting firm, the Middle East Training & Development Excellence Award by the Institute of Chartered Accountants in England and Wales (ICAEW), as well as the best CSR integrated organization.

 

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