Khaleej Times organized a VAT Clinic on 15th December at the Indian Consulate which drew a large crowd of professionals and businessmen.

Professionals from the Institute of Chartered Accountants of India (ICAI) Dubai Chapter clarified some of the misconceptions regarding the tax at the Indian Consulate in Dubai.

The VAT Clinic is organised by Khaleej Times in collaboration with the ICAI Dubai Chapter and Qadi Accountants.

Girish Chand, director of MCA Management Consultants, along with Manu Nair, CEO of Emirates Chartered Accountants Group; Sangeetha Nahar, senior manager of finance at Dubai Properties Group; and Dilip Jain, VAT lead at the ICAI VAT Faculty participated in this event.

“The reality of the tax has set in and we should do our best to prepare for it from next year,” he said. “The ICAI has looked at VAT in a very broad way,” said Madhukar Hiregange, chairman of the Indirect Tax Committee. “Our target is to have 500 people who are capable of training to be ready to help individuals very soon. Any expert that learns about VAT has the responsibility to raise awareness. One of the biggest challenges of VAT will be how business owners can continue to run their businesses in the region.”

Read more about it on the Khaleej Times Online Edition.