Kuwait VAT Conference

Venue

JW Marriott

Date

16 – 18 April 2019

Workshop

18 April 2019

2019/04/16 00:45:18

Brochure

Download

About VAT

The State of Kuwait, like the rest of the Gulf Cooperation Council (GCC), plans to apply VAT next year. This new added tax will have implications for the local business sector including food, manufacturing, construction and regional. There is no doubt that all economic aspects, starting with real estate and manufacture will be affected by the establishment of VAT system. In order to succeed in dealing with this economic change, companies need to develop and implement well-considered strategies that are consistent with this new tax. The conference aims to help companies in Kuwait prepare and raise awareness about the requirements of the next phase.

Themes

Definition of VAT system
Challenges of applying VAT
Use of electronic systems in the application of VAT
Development of accounting and professional systems
Developments related to VAT in the GCC countries
Regional and Global experiences in the application of VAT

Target Group

Kuwaiti companies
Oil sector and industrial companies
Governmental entities
Accountants and auditors
Consulting and electronic companies

SPEAKER

Alok Chugh

Alok Chugh

Alok Chugh, Government and Public sector Leader, MENA region at Ernst & Young, Kuwait

Joanne Clarke

Joanne Clarke

Joanne Clarke, International VAT Adviser, Pinsent Masons, UAE

Topic

Stakeholders of a successful VAT Implementation

BIO

Joanne is an international VAT advisor with 10yrs+ of experience advising clients and corporate groups of all sizes across a range of industry sectors on VAT compliance, structuring and technical matters.
She supports in-house tax and finance leads in clients across all industry sectors to identify the VAT status of their business, their VAT needs and effective ways of mitigating risk and creating efficiencies within their internal VAT governance. She has significant experience in assisting clients with their VAT compliance needs from basic manual returns to the most modern tax engines for compliance automation.
She has ample experience in dealing with analysis of tax law, tax judgments of the courts and collaborating with tax authorities across a range of jurisdictions in order to obtain resolutions for her clients, with her most recent experience in the Gulf States. She has supported everything from SMEs to large corporate multinational groups with VAT implementation in the Gulf, together with post implementation compliance, advisory and tax authority support.
Joanne is known for her personable nature in building strong and trusted client relationships, practical & commercial approach and for seeking to identify her client’s “pain points” for VAT and supporting them in identifying an acceptable resolution.

Brian Conn

Brian Conn

Brian Conn, Partner, BDO, UAE

Jadd Shalak

Jadd Shalak

Jadd Shalak Partner- Tax, Accounting and Finance, UAE

Topic

Overview of VAT and its impact on the economy

Abstract

This session provides a comprehensive overview of VAT/GST regime, why it is a popular method of tax collection by government. The session will also look at VAT terminology and the various treatment of VAT standards. The presentation also investigates the impact of VAT roll-out on government revenue and businesses

BIO

Jadd is a senior partner at Averyx Group and is a leading expert in the areas of Taxation, Accounting and Finance. Jadd is a registered Australian & UAE Tax Agent. Jadd was one of the first few to complete and to be Registered as a Tax Agent in the whole UAE. With over 20 years’ of experience in Accounting, Finance & Tax industry and have worked with some of the leading global organizations such as PWC, ING Australia, Deutsche Bank, Deutsche Telekom, SITA to name a few in various locations such Australia, US (New York), UK (London), France (Paris) and China (Shanghai) holding senior management positions in those.

Nathan Farmer

Nathan Farmer

Nathan Farmer, Commercial Director, Innovate Tax, USA

Topic

Embracing technology to enable smooth transition to VAT

Abstract

Whenever a new VAT regime is established, it is seldom the case that businesses are fully prepared to deal with the tax obligations that arise as a result, e.g. capturing all the right information for tax reporting.

This session will uncover the intricacies of nascent VAT regimes, including real-life examples of the difficulties some companies have faced in trying to ‘gear up for VAT’ and the potential consequences of poor compliance.

With minimal disruption and incredible accuracy versus traditional consultant-led VAT setups, attendees will also discover how Innovate Tax’s multi-award winning range of indirect tax automation technology solutions can help them to avoid the common pitfalls for non-compliance.

BIO

Nathan is an experienced sales professional, with a demonstrable track record in the delivery of global commercial software solutions for international blue chip organisations.

As a member of the Innovate Tax board, Nathan is responsible for all commercial engagements at Innovate Tax as well as the strategic lead for sales, marketing and product development.

Nathan has created an impressive network of clients and partners all around the world, increasing market presence and with the development of an exciting and refreshing Tax Technology value proposition to every marketplace with Oracle ERP.

Sachin Sharma

Sachin Sharma

Sachin Sharma, Head of Tax, Talal Abu-Ghazaleh Organisation, Bahrain

Topic

VAT issues at the ground- Sector Specific

abstract

Basics of VAT/Terminologies
Mistakes done by the businesses in other implementing states
Common Issues faced by various Industries
The life cycle of VAT
Immediate action required

Bio

Mr. Sachin Sharma is a thorough scholar and holds a master degree in Finance. He is a Chartered
Accountant. During his entire academic period, Taxation has been his hard core area of interest &
research. He has started his professional carrier in the Indirect Tax domain and working as a VAT
consultant for more than 11 years. He has an extensive in-depth business-specific knowledge with an
exceptional ability to deliver. He has also performed 200+ seminars/lectures/ training on Value-added
Tax/Goods & Service Tax, Service Tax, Excise and other areas of Indirect Tax during the last 11 years at
different platforms which include big business conglomerates, Public Sector Undertakings, Professional
Institutes and Government Bodies. His research articles have been posted in leading Online knowledge
portals. At Knowledge Ops, he is a prime enabler for all Business Development related activities
At present, he is working as Tax Head and managing VAT engagements for the entire
GCC region. Primarily he is looking out for following aspects for Talal AbuGhazaleh Organisation
• Interpreting VAT Laws and Other relevant rulings.
• Advising clients for Business Planning and restructuring from tax laws
perspective.
• Review of the overall business process and providing an opinion based on his
observation and analysis.
• Planning for transitional phase-pre VAT scenario.
• Setting up the standards based on global practice.
• Drafting impact assessment report.
• Conducting customised training workshop based on client need.
• Identifying VAT exposure and advice client for prospective VAT savings.
• VAT impact and planning for working Capital management.
• Review the client system and establishing a process for data mapping for VAT
compliance

Wouter Kolkman

Wouter Kolkman

Wouter Kolkman , Attorney at Law – Tax Advisor at DLA Piper, UAE

Topic

VAT Introduction in the GCC: a lawyer’s perspective

Abstract

Taking note of the swift introduction of VAT in the United Arab Emirates (UAE), the Kingdom of Saudi Arabia (KSA) and Bahrain, the following (potential) GCC VAT issues from a lawyer’s perspective are discussed:
• Importance of contracts and appropriate VAT clauses
• Ascertaining correct VAT treatment
• VAT registration and gathering information from customers
• VAT recovery issues and VAT grouping
• VAT litigation prevention strategies

Bio

Wouter Kolkman’s practice focuses on EU and GCC VAT as well as other indirect taxes such as import duties and excise tax. His clients include multinational companies, investment funds and real estate investors and developers. Wouter is professionally qualified as both an attorney at law (registered with the Amsterdam bar) and a tax advisor in the Netherlands since 2015. Before the GCC VAT introduction, Wouter advised from the Amsterdam office various clients in the UAE and Saudi Arabia on the implementation of VAT.
Wouter has since advised numerous businesses operating in the Middle East on their tax structures and supply chains, bringing a wealth of VAT expertise from an EU perspective on which much of the GCC VAT regimes are based. Wouter regularly authors articles on complicated Dutch, EU and GCC VAT topics for esteemed tax journals published by Bloomberg Tax and the International Bureau for Fiscal Documentation.

Ouarda el Ghannouti

Ouarda el Ghannouti

Ouarda el Ghannouti, tax consultant at Aurifer Middle East Tax Consultancy, UAE

Topic

Impact of VAT on businesses: the pitfalls and lessons learnt.

Biography

Ouarda El Ghannouti is a tax expert with 6 years of experience.
As a tax consultant at Aurifer Middle East Tax Consultancy, she is currently providing tax advice and assistance to companies from diverse sectors and with international operations.
Before moving to Dubai, she has gained experience in tax policy advisory at the Ministry of Finance in the Netherlands and government representation to the EU. She has provided technical support and policy advice to the Dutch State Secretary for Finance and the Minister of Finance on indirect tax policy issues (VAT and real estate transfer tax). She was also responsible for the preparation and writing of tax policy and legislation.

Ouarda holds a bachelor and master degree in Fiscal Economy from the Erasmus University Rotterdam and a Post-Master Indirect Taxation, from the same university. She has been working combining her knowledge in both fields working for the Dutch Ministry of Finance and working with the European institutions.

Maher ElAawar

Maher ElAawar

Maher ElAawar, Director, PwC Middle East, UAE

Topic

“One year of VAT”

Abstract

It is a year since Saudi Arabia and the UAE became the first Gulf States to implement VAT. The session will cover the impact of VAT one year on businesses, government & economy and the lessons learned from VAT implementation so far.

Bio

Maher joined the PwC Middle East Indirect Tax practice in January 2017 after having spent 10 years in the PwC tax practice in Lebanon. Maher is a certified Tax Agent for the UAE Federal Tax Authority. He have assisted with drafting the VAT framework for the GCC countries, developed and delivered internal & external tax training to clients and public bodies in the UAE and other GCC countries and participated several times in regional and global workshops and seminars.
Maher experience includes undertaking tax reviews and tax due diligence, advising on complex VAT issues and compliance requirements, tax training and liaising on behalf of clients with tax authorities.
Maher is in charge of the delivery of VAT implementation and technical projects for clients in the GCC in various sectors including telecom, technology, entertainment, media & advertising, oil & gas, insurance and consumer goods. He leads teams providing indirect tax consulting services to large multinational businesses and has helped a number of telecommunication providers to identify the implications of the introduction of a new Indirect Tax regime in the GCC and update their systems accordingly to take into account this change.

Mohamed Isa

Mohamed Isa

Mohamed Isa, Consultant | Keypoint Group

Bio

Provides VAT implementation and compliance advisory to a range of different economic sectors including family groups, healthcare providers, telecommunications, financial services (including a global insurance firm) and automotive
As a VAT implementation consultant, reviews contracts and checks VAT invoices
As a compliance consultant, reviews and reconciles VAT returns, reviews supporting calculations and samples transactions and related documentation to assess compliance
Graduate of Loughborough (MSc in International Management and a BSc in Banking & Finance)
Fluent in English and Arabic

Zainab Mearaj

Zainab Mearaj

Zainab Mearaj, Assistant Manager | Keypoint Group

Bio

Subject matter expert (SME) on VAT having been involved with VAT implementations at some of the GCC’s leading banks, family business groups and oil and gas companies
Has worked on a dozen insurance VAT implementations in Saudi Arabia, the UAE and Bahrain
Previously worked in industry in accounting, reporting and internal control
Fluent in English and Arabic
BSc in Employment Relations and Organisational Studies and Education from the University of Auckland (New Zealand)
Certified management accountant (CMA)
CFA level 1

Robert Tsang

Robert Tsang

Robert Tsang, Indirect Tax Partner – Middle East, Deloitte

Topic

How to manage a successful VAT implementation within a company?

Abstract

• VAT implementation project timelines –the difference between managing one company’s VAT implementation vs. managing the VAT implementation for a group of companies, what complications unincorporated and incorporated JVs can mean
• IT environment – selection of the right IT system (is there a need for a full stack ERP, or only billing system), selection process of an IT vendor, advantages and disadvantages of separate tax engines
• Setting up in-house tax/VAT function vs outsourcing VAT compliance – pros and cons
• Project manager – when it is a must and when it is not?

Bio

Robert is the Indirect Tax partner who leads Kuwait, Qatar and Oman Indirect Tax Practices. He headed Deloitte’s Indian GST Implementation Team, as well as the Southeast Asia Indirect Tax Team and Consumer & Industrial Products Tax Practice.
Robert also ran the Andersen and Deloitte US International VAT Teams, and has spent the last 10 years in Asia Pacific. He has more than 25 years’ experience of serving local, regional and global clients, and draws specifically on work he has done in Asia (particularly in Southeast Asia and India), in Greater China (including Hong Kong), in the US/Canada and in the European Union (from a base in the United Kingdom). Robert led the firm’s Malaysian GST implementation efforts not only working with businesses, but also advised the Ministry of Finance, the Tax Review Panel and Royal Malaysia Customs on the shape and structure of the new rules. He has been busy in a similar role in India, particularly in relation to technology offerings and services related to the emerging anti-profiteering rules.

Zoltan Farkas

Zoltan Farkas

Zoltan Farkas, Indirect Tax Director – Middle East, Deloitte

Bio

Zoltan has over 13 years indirect tax experience, providing VAT, customs and excise advisory services to a wide range of clients in Europe and the US. Zoltan joined Deloitte Middle East in 2018 and he assists clients with VAT implementation and advisory services throughout the GCC. Zoltan worked previously in Hungary, managing pan-European and Asia-Pacific VAT compliance engagements having number of groups as his clients in his portfolio and subsequently heading the VAT advisory practice of a Hungarian Big four firm.
He advised a wide range of clients on VAT and excise matters, VAT optimization as well as on VAT related litigation in Hungary and before the European Court of Justice. Zoltan also gained expertise in tax management consulting and VAT data analytics of ERP systems. Zoltan has specific experience in the oil & gas sector, financial services industry, hospitality and construction sector. Zoltan was previously lecturing on Hungarian universities on e-commerce related VAT rules and on international VAT policy.

WORKSHOP

VAT in the GCC

Themes:

• Reflections on the GCC unified agreement
• Updates on released local laws
• What can companies do now to prepare themselves for VAT
• Implementing regulations
• Sector-specific developments