Value Added Tax
will be the order of business from January 1, 2018. The scope of VAT is not limited to calculation of tax alone. VAT is going to transform every business organisation and how they conduct their business. Depending on the nature of business, every business organisation should file for tax returns regularly. As a matter of fact, every business that works along an automated ERP software need to upgrade their system as per VAT Laws. Hence, GCC VAT PRO has gained momentum as the VAT accounting software provider in UAE
VAT is an indirect tax and it is the value added to the goods and services and paid by the end customer while goods and services are bought. Though it is a new introduction in the Gulf Corporation Council, it has been a prime source of income for countries around the world. VAT is levied on every stage of a product development. Though the consumer pays it, the business organisations collect it and submit to the tax authorities. Hence, they need to upgrade their ERP software with VAT accounting software provider in UAE.
All the GCC companies
should ensure that they work efficiently and accurately to collect and submit VAT from consumers. In order to do it error free, their automating system should be upgraded to VAT compliant. Using VAT compliant ERP software from GCC VAT PRO, the best VAT accounting Provider in UAE will help determine VAT efficiently and accurately and submit it to concerned authorities.