Moore Stephens organized a workshop on Value Added Tax (VAT) on Tuesday, 17 July 2018 at the Grand Hyatt in Muscat for their clients.
The objective of the seminar was to provide clients with the fundamental, concepts and deeper understanding of the technical aspects of VAT, the implementation of which is underway across the GCC region. Whilst the draft law is still awaited, the implementation of VAT in Oman is proposed to take effect from 2019. The overall process has gained momentum pursuant to the implementation of the same in United Arab Emirates and Saudi Arabia.
The seminar was conducted by VAT experts, Gajendra Maheshwari and Ankur Jain. Speaking at the seminar they explained the key aspects for consideration and their experience in VAT implementation in other GCC countries. They also explained the key steps for smooth migration to VAT regime and their impact on businesses. The need to look at the business processes and developing a clear strategy on VAT was also emphasized.
The gathering was also briefed about the services which could be offered by Moore Stephens in carrying out a VAT impact assessment, training and preparing the staff, a post implementation review and other related services. The seminar which was well attended by CEOs, CFOs and other business heads ended with a question and answer session which prompted some very interesting discussions.
Moore Stephens international is regarded as one of the world’s major accounting and consulting networks, with its headquarters in London. Moore Stephens member firms across the globe share common values of integrity, personal service, quality, knowledge and a global view. Moore Stephens has been in operation for more than 25 years in Oman and is led by the Partners, John Adcock and Abdullah Al Bakari.
