The General Authority of Zakat and Tax (GAZT) concluded the VAT Forum held in Riyadh on August 16, 2017. The forum, held under the patronage of His Excellency GAZT Governor Suhail Abanmi, is a major event that seeks helps businesses prepare for Value Added Tax (VAT) ahead of its implementation on January 1, 2018. The two-day forum was attended by more than 2,000 representatives from over 1,200 businesses attended.
The forum featured intensive panel discussions and workshops on the implications of VAT. The event also included a VAT Fair, where businesses had the opportunity to meet with more than 20 companies and solution providers (such as technical, operational, administrative, accounting and consulting solutions), aiming at helping businesses prepare for VAT.
During the forum, the GAZT launched the VAT website VAT.GOV.SA to be an electronic platform with high-quality technical properties that include a wide range of tools and information for businesses, as well as a VAT helpline – 19993 – for all VAT-related queries.
The website includes video tutorials, guidelines and a readiness reporting tool for large businesses to update their progress against requirements.
Speaking on the event, His Excellency Governor of the GAZT Suhail Abanmi said, “The forum was held due to the responsibility that will be incurred by businesses of all sizes as they have much to do at the technical, administrative and operational levels to prepare for the introduction of VAT on January 1, 2018.”
“GAZT is ready to support all businesses by providing information and teams to make them well aware of the VAT and get ready to implement it," Abanmi noted.
His Excellency added: “Ensuring businesses understand the implications of VAT – and the steps needed to prepare – is a priority for GAZT. This event is just one part of a broader campaign to help taxpayers and I urge all businesses to look closely at their preparations for VAT and the resources we have developed.”