Vat Strategy And Planning: Monday, 20 April 2020

A good VAT strategy is vital for a good business. It has immeasurable impact on the bottom line and working capital, yet a good VAT strategy is lacking in over 50% organisations.

11:00 am - 12:30 pm Ensuring VAT strategy and planning is frontline and now treated as a compliance and audit parameter

Mohamed Faycal Charfeddine - Group Head of Tax, Aujan Group, UAE
  • Moving away from viewing VAT as a cost item to a benefit driven strategic plan
  • Understanding the VAT life-cycle and where you can add value
  • Importance of managing the entire cycle and not just the compliance aspects
  • Estimating the VAT value properly leads to ensure it leads to a reduction of expenses

Mohamed Faycal Charfeddine

Group Head of Tax
Aujan Group, UAE

12:30 pm - 1:30 pm VAT Reporting – The Value Of A VAT Dashboard

In order for organisations to demonstrate the VAT status, a clear, transparent method of reporting is essential. Key stakeholders need to be aware of these critical questions:

  • What is the total VAT liability of the organisation?
  • What new regulations will affect the business?
  • What positive impact VAT can bring to specific projects?
  • How can VAT be best managed?

Further understand:
  • Quantification methods that can make the above possible
  • Ensuring you demonstrate the opportunities the VAT department can bring to the business
  • Ensuring the CFO understands and is able to drive business decisions with the reports

1:30 pm - 2:30 pm Highlight Details Of Input Tax Claim: Preventing Penalties

How do you 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.

2:30 pm - 3:30 pm VAT Impact On Intra-GCC Trade Operations

This session will shed light on the uncertainty related to Reverse Charge Mechanism for intra-GCC imports, where the supplier will pay the VAT in their country of origin, but the local importer will not be allowed to claim the Input Tax.

3:30 pm - 3:30 pm VAT Impact On Small & Medium Enterprises (SMEs)

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