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GCC VAT Forum - September 11, 2017

8:00 AM - 8:45 AM Registration and welcome refreshments

8:45 AM - 8:50 AM Welcome remarks from IQPC

8:50 AM - 9:00 AM Opening remarks from the Chair

Lindsay Degouve De Nuncques, Head of Middle East, ACCA

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Lindsay Degouve De Nuncques

Head of Middle East
ACCA

9:00 AM - 9:30 AM VAT framework and law overview: Introducing VAT in the GCC

David Stevens, VAT Implementation Partner, Ernst & Young (EY)
  • Where are we now: Discussing the potential VAT framework and law and gaining a clear understanding of timelines of VAT implementation in the GCC
  • Highlighting key areas of the framework and recognising how to apply the guidelines to your business
  • Gaining clarity: Examining which companies and products are going to face VAT and who will be exempt

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David Stevens

VAT Implementation Partner
Ernst & Young (EY)

9:30 AM - 10:00 AM Planning and preparation: The ultimate VAT business checklist

Clare McColl, Indirect Tax Partner, KPMG
Preparation is key because VAT liabilities are subject to severe penalties and time-consuming interactions with local tax authorities, or worse, causing a business disruption. This session discusses what your business can do to ensure a smooth transition to the implementation of VAT in a cost-effective and compliant manner.

  • VAT impact assessment: Assess the overall impact and challenges brought by VAT and design a roadmap to achieve implementation by 1 January 2018
  • Response strategy: Address the transformational challenges across the organisation and ensure that the people, process and technologies are in place
  • Transition testing: Ensuring the changes that have been implemented are tested and ready to go live
  • Post-implementation checks: Ensuring further review testing is carried out to ensure VAT compliance and that reporting systems are operating as designed

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Clare McColl

Indirect Tax Partner
KPMG
This exclusive open-floor discussion will bring CFOs and Finance Directors from companies in the region to discuss their VAT journey. They will discuss challenges they are facing and effective strategies to overcome the burden of VAT in the workplace.
This session will:

  • Recognise what roadmap they have applied to prepare for VAT
  • Highlight the challenges currently faced by these companies in the GCC as they prepare for VAT
  • Discuss strategies and technologies they are implementing for a smooth transition to a VAT environment

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Rajesh Garg

Chief Financial Officer & Chief Operating Officer
Landmark Group

Jairaj Jaisinghani

Chief Financial Officer
Jumbo Electronics

Cathy Safaya

Director of Finance
Dubai Opera

10:30 AM - 11:00 AM Networking break

KEY VAT BUSINESS IMPACTS: IDENTIFYING RISKS AND CHALLENGES

11:00 AM - 11:30 AM PANEL DISCUSSION: Covering all bases: Managing internal and external communications

Jairaj Jaisinghani, Chief Financial Officer, Jumbo Electronics Ganesh Prabhu, Finance Director, Perkins and Will
  • Understand the importance of educating all stakeholders, both internal and external, to avoid VAT miscommunications
  • How to communicate changes and educate staff at all levels through dedicated VAT workshops
  • Understanding contractual obligations – Ensuring that contracts are properly communicated and clearly state whether the price is “inclusive” or “exclusive” of any applicable sales or value added tax

Jairaj Jaisinghani

Chief Financial Officer
Jumbo Electronics

Ganesh Prabhu

Finance Director
Perkins and Will

11:30 AM - 12:00 PM Cash flow management in focus: Protecting your finances

Nadine Bassil, Director, PwC
VAT is not simply a tax issue - it is a business issue. It affects the whole range of your business functions and impacts financials, including cash flow.
In this session you will:

  • Understand how to manage the operational challenges of financial transactions, cash flow management, tax credits, payments, refunds and accounting periods
  • Learn how to manage cash flow and understand the possible profit and loss impact
  • Recognise the challenges of VAT on competitive sectors and how they can prevent cash flow burden
  • VAT-exempt sectors: Understand the cash flow challenges faced by exempt sectors and how to prevent profit margin erosion

Nadine Bassil

Director
PwC

12:00 PM - 12:30 PM Avoiding complexities: Understanding intra-GCC and cross-border transactions under VAT

Nurena Tarafder, Senior Manager, Deloitte
Companies involved in supplying goods and services between GCC members or those operating within or between free zones are likely to face additional complexities, as agreements between individual GCC members could vary.
This session analyses how to manage the VAT impact of:
  • Import/Export of goods
  • Import/Export of services within free zones
  • Goods and services moving within the GCC

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Nurena Tarafder

Senior Manager
Deloitte

12:30 PM - 1:00 PM Sales and marketing: Managing demand of goods and services

Rajesh Garg, Chief Financial Officer & Chief Operating Officer, Landmark Group
  • Learn how VAT impacts the demand of goods and services
  • Recognise the impact of VAT on the current pipeline and inventory
  • Highlight the importance of product and pricing reviews in light of any change in cost structures
  • Discussing support mechanisms and customer incentives to manage demand

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Rajesh Garg

Chief Financial Officer & Chief Operating Officer
Landmark Group

1:00 PM - 2:00 PM Networking lunch

BEYOND VAT IMPLEMENTATION - AVOIDING COSTLY PENALTIES

2:00 PM - 2:30 PM Post-implementation: How to avoid pitfalls?

  • Learn how to train behaviours and encourage a continuous culture of compliance within the workforce
  • Promote accountability and high visibility to help drive change within your business and ensure employees understand their responsibilities
  • Understand how to make documentation easy to capture, store and retrieve in order to avoid errors and compliance issues
  • Recognise the importance of building validation checks into systems to ensure on-going monitoring and avoid costly VAT mistakes


  • What are the implications for businesses that are not ready for VAT by the beginning of 2018?
  • What can be learnt from the VAT experiences in other countries such as Malaysia, UK and Australia?
  • What can be learnt from the VAT experiences in other Arab countries such as Egypt?

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Lindsay Degouve De Nuncques

Head of Middle East
ACCA
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Bruce Hamilton

Director, Indirect Tax, Middle East
Deloitte

Stuart Halstead

Director, Indirect Tax
Deloitte

3:00 PM - 3:30 PM Roundtable Session: ERP or Engine? Understand your options for the fastest, most cost effective and most impactful solution for VAT in the GCC

Andrew Bohnet, Director, Oracle Tax Automation Specialist, Innovate Tax , ,

Andrew Bohnet

Director, Oracle Tax Automation Specialist
Innovate Tax
Do you still have questions about the implementation of VAT?
This open-floor discussion will address any questions that haven’t been answered within the forum to ensure your company is prepared for VAT

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Clare McColl

Indirect Tax Partner
KPMG
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Bruce Hamilton

Director, Indirect Tax, Middle East
Deloitte
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David Stevens

VAT Implementation Partner
Ernst & Young (EY)

Nadine Bassil

Director
PwC

3:40 PM - 4:00 PM One-to-one VAT advisory sessions

Back by popular demand, the 3rd GCC VAT Forum will offer private one-to-one consultation sessions allowing you to gain first-hand insight from tax experts.

The introduction of VAT combines challenges and uncertainty of businesses across the GCC. To achieve their potential, businesses in the GCC need to be actively prepared to continuously improve performance and manage risks to sustain success. These 20-minute consultation sessions will take place throughout the day and allow you to have one-to-one advice from tax experts. You can ask any questions you may have in order to achieve a clear understanding of VAT risks and developing plans to manage the risks.

4:00 PM - 4:00 PM Closing remarks by the chairman

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. For the most up-to-date programme, please visit the event website.