Forum Day: Monday, 9 April 2018

8:30 AM - 9:20 AM Registration, refreshments and networking

9:20 AM - 9:30 AM Chairman’s welcome and opening remarks

9:30 AM - 9:35 AM Keynote address: An international perspective into tax systems globally

GCC VISION: INSTITUTIONAL UPDATES ON EVOLVING VAT LANDSCAPES

9:35 AM - 9:55 AM Regulatory VAT update from government authority in the UAEexclusive Q&A session

This session will highlight the vision of the regulatory framework implemented in the United Arab Emirates and will offer an unprecedented opportunity for Q&A to allow the audience to ask questions on pitfalls and gaps that organisations have encountered in the first 90 days of implementation.

9:55 AM - 10:10 AM Regulatory VAT update from government authority in KSA-exclusive Q&A session

This session will highlight the vision of the regulatory framework implemented in the Kingdom of Saudi Arabia policy options to promote inclusive and sustainable growth, including strategies to develop non-oil revenues, formulate equitable and efficient VAT policies. The exclusive Q&A will allow the audience to ask questions on pitfalls and gaps that organisations have encountered in the first 90 days of implementation.

This exclusive panel will gather some of the top CFOs from large businesses across the Gulf region to discuss about how to riskmanage different scenarios in the design and application of VAT across all business departments

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Lindsay Degouve De Nuncques

Head of Middle East
ACCA
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Rajesh Pareek

Group CEO
Musafir
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Roald Mierop

Head of Indirect Tax
IFFCO

Mahmood Abdulrahim

Group CFO
Belhasa International Company

Ali Bin Mohammed AlMuwaijei

Senior Vice President of Corporate Support
Dubai South

Rajesh Pareek

Group CEO
Musafir

10:30 AM - 11:00 AM Networking coffee break

GCC VISION: INSTITUTIONAL UPDATES ON EVOLVING VAT LANDSCAPES

11:00 AM - 11:30 AM Case study: Navigating VAT uncertainty in the oil & gas industry

This session will feature best practices implemented in the oil & gas industry, highlighting the best fiscal framework for oil exporters in volatile market. It will also offer an opportunity to compare different fiscal models across the region.

11:30 AM - 12:00 PM Case study: Seamless VAT implementation in the banking sector

As banking sector service charges will call for some finetuning to account for the non-recoverable input VAT costs, this session will highlight the case of a reputable bank in the region which has ensured that prices and margins are rebalanced to maintain current levels of profitability.

12:00 PM - 12:30 PM Case study: Setting VAT-inclusive pricing in the construction industry

The booming construction industry is going to be heavily affected by VAT. Involving a large number of stakeholders and taking in account lengthy lead times, this session will highlight top challenges in factoring VAT on the cost and revenue side and offer a case study on a swift VAT implementation on behalf of a reputable contracting company.

TROUBLESHOOTING SHARED OPERATIONAL CHALLENGES: LESSONS LEARNT IN THE FIRST 90 DAYS

12:30 PM - 1:00 PM Highlight details of inputting tax claims: Preventing penalties

David Stevens, VAT Implementation Partner, EY MENA
This session will showcase how to minimise mistakes in order to avoid costly penalties for businesses, which are called to pay attention to the implementation of seamless VAT compliant technology, operations, financial management and accounting practices.

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David Stevens

VAT Implementation Partner
EY MENA

1:00 PM - 1:30 PM Discussing Reverse Charges Mechanism (RCM) implementation for businesses in UAE & KSA

The UAE VAT Reverse Charge Mechanism (RCM) entails having a liability to pay tax on behalf of the recipient of the supply instead of the supplier. This session, led by a consultant, will be a platform to understand more about specific cases entailing RCM across different countries.

1:30 PM - 2:30 PM Networking lunch break

2:30 PM - 3:00 PM Understanding FOC VAT for zero-rated supplies

Jeremy Cape, Tax Partner, Squire Patton Boggs
This session will shed light on the uncertainty related to exempt supplies, which are not taxable supplies for VAT purposes. Exemptions will also be strictly applied as they are an exception to the normal rule that VAT should be charged.

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Jeremy Cape

Tax Partner
Squire Patton Boggs

3:00 PM - 3:40 PM Panel discussion: Trading within designated free zones - understanding regulations and operational challenges

According to the Cabinet Decision No (59) of 2017, designated zones have internal procedures regarding the method of keeping, storing and processing of goods and the operator of the designated zone need to comply with the procedures set by the Federal Tax Authority (FTA). This panel discussion will highlight first operational challenges encountered by businesses within designated free zones and will offer an overview on how key challenges have been addressed.

3:40 PM - 4:20 PM Panel discussion: Impact of VAT on small & medium enterprises (SMEs)

Mazdak Rafaty, Managing Partner, LIC Consulting
This panel will discuss the effect that VAT has had on SMEs across the United Arab Emirates and Saudi Arabia, including pricing, cashflow, financial reporting, tax accounting, supply chain and compliance processes.

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Mazdak Rafaty

Managing Partner
LIC Consulting

4:20 PM - 5:00 PM Q&A session: Opening the floor to the audience for sectorspecific questions

This exclusive technical session will offer the opportunity to the audience who have questions that remain unanswered to get feedback from a consultant on the following issues: systems, audit files, returns and free zones regulations.

5:00 PM - 5:05 PM Chairman’s closing remarks

5:05 PM - 5:50 PM Surgery sessions

These exclusive sector-specific surgery sessions will offer the audience one-to-one time with consultants to clear VAT-related doubts in a 45-minute format. We recommend delegates to submit two questions each ahead of the forum in order for trainers to be prepared.

The published programme is correct at time of printing. However, given the seniority of our speakers and the nature of their roles, speakers may subsequently substitute or remove themselves from the programme. This is always regrettable, and we will always try to replace the speaker with a speaker with equivalent insight.