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KSA VAT — one of simplest and supportive tax!

JEDDAH — IMA Western Province Chapter in association with VAT Advisors once again gathered professionals and VAT experts with 200 attendees from various companies on at Hilton Hotel here late December with the collaboration of Indian Expo that was taking place.

With Jan. 1 as the Go-Live date for VAT in the Kingdom, the conference had an important and very pertinent focus on the confusion that lay between the implementation, regulation, law and transactions as the companies struggle to complete the preparation.

Indian Deputy Consul Shahid Alam presented the welcome note to the audience to Indian Expo and expressed gratitude to IMA, SIBN and VAT Advisors for their support to professionals working in Kingdom. Oboud Baeshen opened the VAT Clinic conference for the benefit of the business community.

Ashu Dalmia — GCC Vat, GST Trainer & Author of Book “Indirect Tax’, along with Vijay Soni — president, IMA Western Province Chapter, led the presentation of basic understanding of VAT. During the conference and with aim of providing additional support, experts came across many queries related to regulations which were all well responded. The conference highlighted key areas such as transitional period transactions and internal supplies.

“All genuine VAT paid by organizations for carrying out activities are subject to refund,” said Dalmia. The conference closed with the final statement from Soni, who said, “VAT in KSA is one of the easiest and simplest forms in the world, GAZT’s proactive approach reaching out to business community is appreciated by the entire business community. This is a great support from government.”

This was the third VAT event in a span of less than three weeks from VAT Advisors with VAT expert support from Oboud Abubakr Baeshen, IMA Chapter, MBN Luxury Lines and guests. The first event at Park Hyatt was hailed by business owners followed by Corporate training at Hilton and this open house discussion at Jeddah Hilton.

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