 UK Training has teamed up with The Arab-British Chamber of Commerce in London to present a unique event which will explain the developments taking place in the tax regimes of the Gulf States. The United Arab Emirates (UAE) has been drafting VAT legislation which is intended to replace Customs Duties shortly. It is intended that the other Gulf States represented by the Gulf Cooperation Council (GCC) will soon follow the UAE and also introduce VAT.
The six countries in the Gulf States are Oman, Bahrain, Kuwait, Qatar, Saudi Arabia and the UAE.
The aim of this special seminar is to help organisations that actively trade with the Gulf States, get a clear understanding of some very important developments. The presenter will clearly outline the status and progress of the UAE and the GCC with regard to the VAT Implementation Programme.
The seminar will answer the following questions.
- What is the Gulf Co-operation Council?
- What is VAT?
- How does VAT differ from customs duty?
- What are the current levels of import duties in the GCC?
- What is the difference between zer0-rated and exempt supplies?
- What sort of supplies might be zero-rated?
- What sort of supplies might be exempt?
- When is input tax reclaimable?
- Is VAT charged on goods sold to traders in other countries?
- Does an overseas visitor have to pay VAT on retail purchases?
- Are imports subject to VAT?
- Is import VAT payable immediately on import?
- Is import VAT ever waived?
- Is VAT charged on goods sold between different countries in the same community?
- Is VAT paid by a trader buying goods from a country within the same community?
- Are there any problems with model for intra-community sales of goods?
- Is there an alternative to the model of intra-community sales of goods?
- What is triangulation?
- What is the simplification procedure for triangular transactions?
- Is VAT charged on services supplied by a trader in one country to a customer in another?
- What is the reverse charge procedure?
- How are international services treated if the customer is a consumer?
- How does a taxpayer reclaim input tax paid in another community country?
- How could the GCC be relevant for VAT purposes?
- What would be the advantages of applying the “European model” to VAT in the GCC?
- Is it inevitable that VAT will be implemented in the UAE?
- When will the Federal Government officially announce the implementation date?
- Does anything need to happen at GCC level?
- Will VAT be the same on all products and services?
- When will VAT be implemented in the UAE?
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