In a bid to educate our staff and as part of our on-going Knowledge Sharing Initiative, Ginco conducted an extensive training on VAT and its implications. We believe better trained staff make better decisions which result in minimized VAT costs, more accurate VAT returns and reducing VAT penalties for errors. With comprehensive VAT training, we aim to make our staff more confident and make better VAT decisions.

The training examined the rules and regulations of VAT and clearly demonstrated the procedures and controls that should be in place to ensure VAT returns are submitted accurately and on time.

We covered:

• Reason behind VAT implementation in UAE
• Impact of VAT on UAE Economy
• Impact of VAT on the Businesses
• Why VAT in UAE is different than rest of the world
• Gulf VAT Framework

At the end of the training period, our professionals who are involved in making key commercial, real-world business decisions that have a VAT consequence got a clear idea as they move ahead with the new economic status.