Essential VAT insights

August 2016

KPMG workshop

Muscat Crown Plaza ñ Sindbad B Hall8:00am – 8:45am (Registration and breakfast)8.45 am – 12:00pm (Seminar)

5 September 2016

Essential VAT insightsThe GCC states are developing a broad framework for the introduction of VAT. The framework agreement will set out the underlying principles of VAT laws for the six GCC countries, although there are likely to be areas where member states will have some flexibility.

The GCC states - including Oman - continue to target 1 January 2018 as the proposed VAT implementation date. While neither the GCC framework agreement nor the proposed Omani VAT law have been issued, there are common features in any VAT law which business owners, directors and managers should understand as businesses prepare for VAT. This workshop will outline some important considerations, in particular how it may impact supply chains.

KPMG workshop

KPMG’s VAT team in Oman, along with international VAT experts, have been advising Oman’s Ministry of Finance on the design and implementation of a VAT system. KPMG’s VAT team also has recent experience of the implementation of Malaysia’s goods and services tax (a VAT equivalent), which was introduced on 1 April 2015. Our VAT Leader previously advised the Australian government on GST policy development. This policy background enables us to bring unique insights into how the government is likely to apply and administer its VAT law and ensure compliance.

An announced start date of 1 January 2018 may seem a long way off but our experience in countries including Australia, Singapore and Malaysia suggests that 18-15 months is a tight timeframe within which to prepare your business. You should be starting this journey now.

Attending our workshop will be an important first step – the time for action has come. Our team will share insights and practical knowledge of what is required to be VAT ready. By attending, you will:

– Gain an overview of VAT’s introduction in the GCC– Develop a better understanding of how VAT applies

through the supply chain– Know who is required to account for VAT– Understand how to avoid VAT becoming a cost to your

business– Appreciate the impact of VAT across all your business

units– Have a roadmap on how to prepare your business for

VAT– Be able to raise questions with our VAT experts

Special offers and discountsWe offer an early bird discount of 10% when registering at least 14 days before a course starts or a group discount of 20% when four or more people register from the same organization

RegistrationWe only accept online registrations. Please register for the event at: http://kpmgbusinessacademy.kpmguae.com/Registration.aspx

Customized workshopsOur team can also customize these VAT insights for your organization.

Essential VAT insights

Fees:Early bird* OMR135Standard OMR150

© 2016 KPMG, registered in Oman and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), aSwiss entity. All rights reserved. The KPMG name and logo are registered trademarks or trademarks of KPMG International.

Essential VAT insights

Function and specialisation– International corporate tax – Advising Oman’s Ministry of Finance on designing

and implementing VAT

BackgroundAshok is the Head of Tax for KPMG's tax practice in the Lower Gulf (the UAE and Oman). He is an experienced tax and professional services partner, offering over 30 years of international tax experience to KPMG's people and regional clients. He has previously served as KPMG's Regional Head of Tax and the Regional Quality and Liaison Partner for the Middle East and South Asia (MESA) region. He has been rated as a leading tax advisor and tax controversy leader by Expert Guides, a Euromoney publication.

Professional and industry experience For the last 10 years, Ashok - together with KPMG’s global VAT specialists - has been advising Oman’s Ministry of Finance, designing and implementing a VAT system. This includes helping them understand the GCC framework agreement, providing Oman’s comments on the framework and drafting Oman’s VAT law and executive regulations.

Ashok and his colleagues have also organized VAT workshops for clients in the retail, real estate and telecommunication sectors and advised on the strategy and road map to be adopted to be ready for VAT.

Function and specialisation– VAT/GST advisory and compliance

Background– Rob recently joined KPMG in the Lower Gulf as a

director.– Before joining KPMG, Rob worked for another Big 4 firm

as GST Director, assisting with the implementation of Malaysia's goods and services tax (GST).

– Rob has provided a broad range of taxation advisory and consultancy work for over 30 years, with a particular focus on VAT/GST. He was Vice-Chairman of the OECD Working Party that has been developing international VAT guidelines for cross-border services and is a key contributor to many international forums on VAT/GST, including the global VAT forums held in 2012 and 2014.

Professional and industry experience As well as advising governments on VAT and GST policy issues, including drafting legislative amendments, Rob has advised local and multinational companies in Australia, Malaysia and the Lower Gulf (including Oman) on VAT/GST implementation, compliance and restructuring opportunities.

Contact detailsT: +968 24749231M: +968 99324874ahariharan@kpmg.com

Ashok HariharanPartner & Head of TaxKPMG in the Lower Gulf

VAT WORKSHOP PRESENTERS

Contact detailsT: +971 4 424 8932 M: +971 56 415 8738 rcosta1@kpmg.com

Rob Dalla CostaVAT LeaderKPMG in the Lower Gulf

© 2016 KPMG, registered in Oman and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), aSwiss entity. All rights reserved. The KPMG name and logo are registered trademarks or trademarks of KPMG International.

Training with usKPMG develops training programs based on the solutions KPMG brings to businesses and individuals in the region. Our seminars and training programs provide professionals with the knowledge and skills needed, offering insight into various sectors.

Learning at KPMG s training programs

– Our experience in the region of helping clients grow.

– Our faculty of professionals dedicated to sharing global expertise from across the KPMG network.

– A robust training approach combining knowledge and practical skills.

– Delivered at times and venues that suit you.– Special offers.

Contact usIn case of enquiries, please contact our team:

Ashok HariharanPartner and Head of Tax – Lower GulfT: +968 99324874ahariharan@kpmg.com

Sunita TaijwaniManager - VATT: +968 96183093staijwani@kpmg.com

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The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the situation.

© 2016 KPMG, registered in Oman and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), aSwiss entity. All rights reserved. The KPMG name and logo are registered trademarks or trademarks of KPMG International.