With the introduction of value added tax (VAT) throughout the GCC, It is compulsory for businesses with revenue of over USD 100,000 to register and be ready for VAT implementation and compliance by 1 January 2018. To assist organisations build and demonstrate tax compliance and to ensure that their employees comprehend GCC VAT Legislation and its application, SENPI offers training and softtware implementation to GCC companies to smoothly transition into the new changes. This is offered in exclusive partnered with UK and Canada based leading provider of practical tax training. We also offer customization to our ERP system to meet your demands.
To start, the following questions will help impact assessment of VAT to your organization:
What are your VAT compliance obligations
and associated risks?
To understand your tax risk profile does not
require much of investment of time,
resources and money. This needs to be formulated.
Have you embeded VAT controls
into your business cycle?
Depening on the risk profile of your business, you can
start to focus on how and where to embed the right
VAT controls into your business cycle, creating
a tax structure to manage your VAT framework,
followed by a set of VAT compliance processes
across the supply chain.
How to automate much of VAT
compliance processes ?
VAT compliance can be set up in your
supporting IT system or ERP systems, e.g. including VAT to your
current invoicing / billing and the VAT reports that can generate
returns summary to the tax authorities.
SEN PI offers VAT compliant ERP system that lets you send invoices, reconcile bank statement, manage expenses, track inventory and generate insightful reports smoothly.