Alinma Bank Holds Workshop on VAT

The Human Capital Education & Development Department at Alinma Bank, recently held a workshop on issues related to the value-added tax (VAT) that will be applied in Saudi Arabia beginning in 2018. The event, entitled "VAT Applications" took place on May 24, 2017 at the Al-Anoud Novotel hotel in Riyadh and focused on the practical aspects of value-added tax systems across the GCC region.

The workshop was led by HE Dr. Ahmed Ibrahim Al Bolushi, who is currently a consultant at the Institute of Banking Financial Studies in Bahrain. Topics included important VAT-related definitions, the discussion of taxation as a tool of financial policy, the application of VAT and its effects, and the role of banks in this regard.

Speaking about the workshop, Alinma’s General Manager of Human Capital, Dr. Sulaiman Al Hudaif, said that workshops that raise awareness are an important part of the Education & Development department’s mandate. Toward this end, the department provides seminars, workshops and training that shed light on important economic developments, both domestically and internationally.