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Economic Panel - GCC Countries in Transformation / New Tax Landscape

Locations: Vienna Economic Chamber
Start Date:

6/25/2018 5:02 AM

End Date:

Introduction

The six countries of the Gulf Cooperation Council (GCC), comprising of Saudi-Arabia, Qatar, Kuwait, Oman, United Arab Emirates and Bahrain are in a process of transformation. Most of them have ambitious plans for new and future projects. These plans offer various opportunities for foreign and Austrian companies in many fields.

In April 2017, the six GCC countries, signed an agreement to implement value added tax through the GCC area as from 2018 onwards.  The UAE and Saudi Arabia started from early 2018 while other Gulf countries have time til the end of next year to implement the new tax system.

The introduction of VAT will represent a fundamental change to business operations in a region with little history of taxation. This will raise a lot of questions for businesses with operations in the GCC countries:

  • Which GCC countries have implemented VAT, and when will the other GCC countries follow?
  • What is the related legal structure and scope of VAT?
  • Which companies are affected and does it include local / imported goods and service?
  • What are the taxable goods and services? Which goods and services are exempt from VAT?
  • How is the registration and administration of VAT executed in GCC countries? What are the periods of VAT calculation? Are there any possibilities of VAT deduction or refund?

Target Group:

This Economic Panel is addressed to Austrian (especially Viennese) companies, investors and individuals with business and interest in the GCC countries. The participation of representatives from Arab embassies and international organisations is also expected.

Language:

English

Registration & Contact:

Kindly register your participation by e-mail [email protected]  at  or telephone to 01 513 39 65 until 18 June 2018. Participation is free of charge.

Program:

Please open the attachment to view the preliminary program.

For inquiries and more information, kindly contact the AACC by e-mail to [email protected] .

Venue

Vienna Economic Chamber / Wirtschaftskammer Wien
Stubenring 8-10, 1010 Vienna | 1st Floor, “Grosser Saal”

 

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