First BIT and BDO UAE to partner on a joint seminar on VAT implementation in UAE
In light of the upcoming VAT introduction in the UAE, First BIT and BDO UAE have partnered to bring together seasoned tax professionals, technology experts and top managers to help local businesses build their expertise on the practical aspects of VAT implementation. In particular, the companies will give a joint VAT implementation seminar on April 17 at the Address Boulevard hotel in Dubai, featuring global experts from Malaysia and the UK and focusing not only on methodological, but also on technological aspects of transition.
Starting from January 1, 2018, a 5% VAT will be introduced in the UAE. It is expected to have a deep impact on the way businesses operate in the whole region. Early preparation is a key to a successful transition to the new business environment in terms of people, processes, controls, and technology. “Businesses need to have an implementation plan in place to make sure that on day one they can hit the ground running,” says Brian Conn, VAT Partner at BDO. “If they have not started thinking about it before, they need to start now.”
The partnership between First BIT and BDO UAE will bring together seasoned tax professionals, government officials, and top managers to share their insights into the topic. The upcoming seminar, scheduled to take place on April 17, will feature global experts, who will share their technical know-how and worldwide experience that will help participants stay abreast of relevant VAT matters and implications for the UAE’s key sectors.
The speaker line-up includes BDO’s Executive Director Mok Chew Yin and VAT Partner Brian Conn, as well as First BIT’s Business Development Manager Hakim Kuvatov and Head of Automation Evgenii Podborskii.
Key topics to be covered in the seminar include:
· Latest news on how the introduction of VAT is progressing across the GCC.
· Analysis of the VAT Framework Agreement and country-by-country laws (as at the time of the seminar).
· Early steps to be taken by businesses to get ready for VAT implementation.
· Building a roadmap for a smooth transition and full compliance from day one.
· Preparing IT systems for VAT implementation (see below).
Unlike many similar events, which focus mainly on methodology and advisory, the seminar will specifically cover the aspect of technology readiness for VAT implementation. “Technology adoption is critical to a successful VAT transition,” says Evgenii Podborskii, Head of Automation at First BIT. “To ensure compliance from day one, businesses will have to customize their IT systems and if its in-house IT resources are sufficient to do this, or if an external consultant is needed,” he adds.
In addition to insights shared by the hosts, seminar attendees will also have access to personal consultations and demos of the latest software solutions for VAT compliance.
Combining BDO’s worldwide strategic vision and First BIT’s technological competence allowed the organizers to create a seminar that provides a truly 360-degree view of the upcoming changes and the actions that can be taken right now to better prepare for them. We invite all financial controllers, auditors, accountants, and business leaders to register for the seminar at http://www.vat-uae.info/
About BDO UAE:
BDO is a worldwide network of professional services firms, called BDO Member Firms. With more than 64,300 people working out of over 1,400 offices in 152 countries, BDO is one of the leading professional firms in the world providing audit, advisory and consulting services with revenues of US $7.3 billion. BDO UAE is the UAE based Member Firm of BDO International.
About First BIT:
First BIT is a global IT company that provides business automation and IT solutions worldwide with 80 branch offices in five countries. Over a period of 19 years, First BIT has helped customers transform business processes through comprehensive business automation solutions and a full range of IT-related services. The company’s track record includes numerous successful VAT implementation and more than 150,000 automation projects.