VAT Services
Unlock the Power of VAT Services...
In today's GCC world, goods and services are subject to indirect taxation. Navigating this landscape requires businesses to embrace the newly adopted Indirect Tax System with full compliance and governance.
What VAT means to Business
Business Impact
-
Potential effects on margins & pricing
-
Cash tax impact from VAT leakage
-
Cash flow: funding of timing differences between paying & collecting/receiving VAT
-
VAT issues when undertaking deals
Technology and Systems
-
System changes for VAT compliance & reporting (e.g. financial & point of sale systems)
-
VAT coding of accounts payable & receivable
-
IT architecture impacts
-
Process and compliance automation
-
Electronic documentation
-
Data and analytics to enhance compliance
Sales and Marketing
-
AT treatment of sales & exports
-
Effect on demand
-
Pricing strategy & payment terms
-
Customer management
-
Impact on current contracts and commercial agreements
Procurement
-
Potential effects on margins & pricing
-
Cash tax impact from VAT leakage
-
Cash flow: funding of timing differences between paying & collecting/receiving VAT
-
VAT issues when undertaking deals
Compliance - Throughout the Value Chain
-
Map business flows including procurement, production, logistics, sales & marketing activities
-
Establish VAT management framework covering governance, controls, roles and responsibilities
-
Tax knowledge and training
-
Tax registrations and filing requirements
-
Process and procedure guidelines
