Value Added Tax (VAT)
GCC (Gulf Co-operation Council) member countries have agreed in principle to introduce VAT as an additional source of revenue. UAE and Saudi Arabia implemented VAT w.e.f 1st January 2018 and Kingdom of Bahrain implemented w.e.f 1st January 2019. Even though VAT is new to GCC, it is a common tax globally.
We help businesses for:
• Assessment of VAT applicability, process & system
• VAT Registration and obtaining the ‘Tax Registration Number’
• Training the team and Software implementation
• Evaluate the working capital requirement and payment cycle in light of the VAT regime
• Advising the company in terms of applicability of VAT in each identified transactions and training the staff- in- charge of the same for legal compliances
• VAT liability computation & Filing of return
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