Description

Value Added Tax (VAT) has been implemented in UAE from 1st January 2018 and it has an impact on every business. Whether you are a manufacturer or a trader or distributor or freight forwarder or service provider or professional, you will see VAT impacting your business in some way or the other.

VAT Law needs to be embraced and accepted by one and all living in the UAE and its real impact on the business can be best assessed only through a proper impact study on the Business Model and Business Processes.

Most of the members of ICC-UAE have registered themselves for VAT and have implemented the VAT in their business. All the companies who have registered for VAT have also filed their VAT Returns with Federal Tax Authority. Over the past months several practical issues have been faced and the FTA has been constantly updating and improving on the rules and regulations.

The Tax Year end is soon approaching and readiness for the year end is an important aspect to be considered by all companies now. The companies have also encountered a number of practical issues while complying with the VAT Law and also while submitting the VAT Returns.

The workshop on "PRACTICAL ISSUES IN IMPLEMENTATION OF VAT AND PREPARATION FOR THE TAX YEAR END" is aimed at helping the members of the ICC-UAE to understand the various practical issues in the implementation of VAT and see how they can be properly equipped and organized. We will also focus on the preparation that is needed for the Tax Year End as the Tax Year is ending on 31st December 2018 for some companies and either 31st January 2019 or 28th February 2019 for others.

The focus of the workshop is to address all practical issues and help the participants from different industries to understand the requirements of the VAT Law and the Executive Regulations to ensure proper compliance. This will be a half day workshop on 25th September 2018 from 9 a.m. to 1 p.m. in Dubai Chamber of Commerce.

In order to get the best out of this workshop the participants are requested to send in their queries well in advance so that the practical issues can be discussed during the workshop.

Objective:

• Get clarity on various practical issues that are being faced in the Implementation of the VAT Law in the day to day business.
• Get an understanding of the VAT Law and Executive Regulations relating to accounting for transactions
• Understand the requirements of the VAT Law and the preparedness that is needed for the Tax Year End that is approaching soon
• Get a clear understanding of the implication of VAT Law to ensure proper compliance with the law

Methodology:

• Explanation to the various questions received from participants on the practical issues faced by them in implementation of the VAT Law.
• Explanation of the VAT Law and Regulations relating to Records, Returns and preparation for Tax Year End.
• Interactive session through Questions & Answers

Who should attend:

• Members of ICC
• Business Owners
• Business Managers from all functional areas like Finance, Accounts, Purchases, Sales, IT, Logistics, HR and General Administration
• Professionals from different fields