AACC News

Update: 21 June 2018

 

 

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 UPCOMING EVENT:

 


The Austro-Arab Chamber of Commerce (AACC),

 

 

 

in cooperation with

 

 

 

Crowe and Vienna Economic Chamber (WKW)

 

 

 

cordially invite to an

 

 

 

ECONOMIC PANEL:

 

 

 

GCC Countries in Transformation

 

New Tax Landscape

 

 

 

 

Monday, 25 June 2018 | 16:30 – 19:30 hrs

 

Vienna Economic Chamber / Wirtschaftskammer Wien

 

Stubenring 8-10, 1010 Vienna | 1st Floor, “Grosser Saal”

 


 

 

Introduction:

 

The six countries of the Gulf Cooperation Council (GCC), comprising of Saudi-Arabia, Qatar, Kuwait, Oman, United Arab Emirates and Bahrain are in a process of transformation. Most of them have ambitious plans for new and future projects. These plans offer various opportunities for foreign and Austrian companies in many fields.

 

 

 

In April 2017, the six GCC countries, signed an agreement to implement value added tax through the GCC area as from 2018 onwards. The UAE and Saudi Arabia started from early 2018 while other Gulf countries have time til the end of next year to implement the new tax system.

 

 

 

The introduction of VAT will represent a fundamental change to business operations in a region with little history of taxation. This will raise a lot of questions for businesses with operations in the GCC countries:

 

  • Which GCC countries have implemented VAT, and when will the other GCC countries follow?
  • What is the related legal structure and scope of VAT?
  • Which companies are affected and does it include local / imported goods and service?
  • What are the taxable goods and services? Which goods and services are exempt from VAT?
  • How is the registration and administration of VAT executed in GCC countries? What are the periods of VAT calculation? Are there any possibilities of VAT deduction or refund?

 

 

Target Group:

 

This Economic Panel is addressed to Austrian (especially Viennese) companies, investors and individuals with business and interest in the GCC countries. The participation of representatives from Arab embassies and international organisations is also expected.

 

 

 

Language:

 

English

 

 

 

Registration & Contact:

 

Kindly register your participation by e-mail to This e-mail address is being protected from spambots. You need JavaScript enabled to view it / Austro-Arab Chamber of Commerce, tel.: 01 513 39 65

 

 


Preliminary Program:

 

 
 

16:30

Arrival and Registration

 

 

17:00

 

WELCOME & INTRODUCTION

 

Dr. Richard Schenz

President of the Austro-Arab Chamber of Commerce

 

17:10

STATEMENT BY THE GULF COOPERATION COUNCIL

 

Economy of GCC Countries

 

H.E. Mr. Abdulrahman Hassan Almonif

Head of Financial Department / Economic Affairs Section of the General Secretariat of the Gulf Cooperation Council


 

17:30

 

PRESENTATION I

 

Success story Austria in the Gulf Region

 

Developments and future outlook

 

Mag. Richard Bandera

Wirtschaftsdelegierter AUSSENWIRTSCHAFT AUSTRIA – Austrian Commercial Counsellor in Abu Dhabi

 

 

17:45

 

PRESENTATION II

New tax landscape in the GCC countries and what does it mean to the businesses in the region – Introduction of VAT and Excise Tax in the GCC

 

Mr. Markus Susilo

Crowe UAE, Indirect Tax Partner

 


 

 

 

18:15

 

PRESENTATION III

 

The aspects to be considered by Austrian companies doing business in the GCC VAT environment, from the perspective of both the Austrian VAT laws and GCC VAT laws.

 

Case studies of subsidiaries, distributors, and branch offices of Austrian companies in the GCC countries.

 

Mr. Tobias Hayden

Crowe Austria

 

 

18:45

 

Q & A

 

 

19:00

 

NETWORKING BUFFET

 

 

 

Moderation: Dipl.-Ing. Mouddar Khouja, Secretary General, Austro-Arab Chamber of Commerce

 

 

 

 

Photo/Video Disclaimer: AACC reserves the right to use any photograph/video taken at the event . AACC may use the photograph/video in publications or other media material produced, used or contracted by AACC including but not limited to:newsletters, brochures, invitations, books, newspapers, magazines, television, websites, etc.

 

 

 

 

 

 

 

 

 
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