Free Seminar

How to Get your Business Ready for the VAT Implementation?

19 December 2016
10:00 am – 12:00 pm
In the UAE VAT will be implemented on January 1, 2018 as per the Finance ministers of the GCC (Gulf Cooperation Council) resolution.

Whilst the GCC framework agreement and the individual country VAT legislations are yet to be finalized, there are a number of things businesses can do now to ensure smooth implementation of VAT.

The introduction of VAT has a great impact on nearly every UAE business.

So, will you be ready for this?

Businesses in the UAE now have less than 12 months to build out the VAT capability, review their broader operations and carefully build a roadmap to ensure that the business is VAT ready, including people, processes, controls and technology.

Early preparation is key.
Take action now to get ready!

First BIT hosts a free seminar to ensure that businesses identify the key VAT touch points, even before the legislation is issued and provide the organization-wide readiness roadmap to be followed by businesses in order to have smooth implementation of VAT.
A wide range of business operations and IT Systems may need to be dealt with VAT as part of shaping the VAT implementation project.

Procurement and Production

- Supplier’s pricing - A/P invoice processing time - Purchases from non-registered VAT business - Supplier education

Sales and Marketing

- Pricing strategies - Returned goods - Education of – and communication with – consumers - Credit items

IT

- System changes - Documentation (tax invoices) - Reports for VAT returns

Legal

- Existing and new
contracts

Finance

- Bad debts - Deposits/advanced payment - Leases and hire purchase - Loan of stock and equipment - VAT return preparation - Disposal of assets - Sales of scrap
VAT implementation by businesses requires a significant involvement not just from the finance and tax teams but, more importantly, from personnel engaged in supply chain management, accounts payable and receivable teams, human resources, sales and marketing, as well as information technology.
The first thing that should be undertaken immediately is to review long-term contracts that are expected to go beyond January 1, 2018 and make sure that appropriate clauses dealing with VAT are included.

Agenda:

Registration & coffee
What you should already know about VAT
5 things businesses can do now to get ready for VAT implementation
An insight into current developments on VAT in the GCC region
Understand how VAT will affect the trade business in order to actively prepare for implementation
What are the benefits of being VAT ready?
Q&A
Networking

Agenda:

Registration & coffee
9:30 –
10:00
An insight into current developments on VAT in the GCC region
10:00
5 things businesses can do now to get ready for VAT implementation
Q&A
What you should already know about VAT
10:00
Understand how VAT will affect the trade business in order to actively prepare for implementation
What are the benefits of being VAT ready?
Networking

Who should attend?

CEO/CFO/COO/CIO
Financial controllers
managers
Information technology
managers
Accountants

Who should attend?

CEO/CFO/COO/
CIO
Financial controllers
managers
Information technology
managers
Accountants

Act now, don't wait for VAT law

Don’t take a wait-and-see approach towards VAT.
Take advantage of tackling it head on, and you will not lag behind other businesses as a result!
19 December 2016
10:00 am – 12:00 pm
Reserve Your Seat Today
Event Location
Media Rotana Hotel,
Dubai
FREE Valet PARKING

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