Our VAT Solution

  • GCC VAT PRO ERP solutions comes with inbuilt ready to use VAT Returns reports with VAT Audit Reports; GCC VAT PRO ERP solution is exclusive build on platform of “Unified VAT agreement” released in 2016 for GCC Countries i.e Saudi Arabia, UAE, Bahrain, Qatar, Kuwait, Oman.

  • GCC VAT PRO ERP captures all the required operational and accounting inputs based on
    1. Unified VAT Framework
    2. VAT Regulations published by UAE and Saudi Arabia Government
    3. VAT Return forma published by Federal Tax Authority (FTA) UAE & General Authority of Zakat and Tax (GAZT) Saudi Arabia

  • GCC VAT Features

    1. System generated VAT Return Report for UAE and Saudi Arabia,
    2. Inbuilt VAT Calculation, VAT Accounting and VAT Reporting,
    3. No need of VAT and Accounting Experience,
    4. Automatic determination of appropriate VAT Period, Rate and VAT treatment for each business transaction,
    5. Automatic detection of VAT adjustment for current and previous period,
    6. Fully Traceable VAT AUDIT Report,
    7. VAT Payment, VAT Return, VAT Carryforward,
    8. VAT Compliant Invoices and Payment Receipt in Arabic and English,
    9. Deductible and Non Deductible VAT Treatment,
    10. VAT Records in both local and Foreign Currency,
    11. VAT on Inventory Adjustment

  • VAT Scope:
    • A] Input VAT
      1. Local Purchase:
        1. Standard Rate Local
        2. Reverse Charge Mechanism (Unregister Suppliers)
        3. Zero Rate
        4. VAT Exempt
        5. VAT Adjustment in Current Period
        6. VAT Adjustment in Previous Period
      1. Inter GCC Purchase
        1. VAT Paid Under Reverse Charge Mechanism
        2. VAT Paid to Customs
        3. VAT on Purchase from Non VAT GCC Countries
      1. VAT on Import
        1. VAT Paid Under Reverse Charge Mechanism
        2. VAT Paid to Customs
    • B] Output VAT
      1. Local Sales:
        1. Sales of BASIC Rate Goods & Service
        2. Sales Of Zero Rate Goods & Service
        3. Sales of VAT Exempt Goods & Service
      1. Inter GCC Sales
        1. Sales to  Non VAT Register Customers in VAT Implementing GCC Country
        2. Sales to VAT Registered Customers in VAT Implementing GCC Country
      1. Export
        1. VAT treatment for all Exports Goods & Services
    • C] Deemed Supply
      1. VAT on Inventory Disposal/Scrap, Sample Given, Personal Consumption etc.
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  • 1. Output VAT:
    1. Place of Supply : (Tax Collection & Payment Responsibility)
    2. VAT Base: Net Sales / Faire Market Price / Profit Margin
    3. VAT Rate: Basic, Zero, Exempt
  • 2. Input VAT:
    1. Reverse/Non Reverse (Tax Payment Liability)
    2. VAT Base: Net Purchase / Faire Market Price
    3. VAT Rate: Basic, Zero, Exempt

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  • Deemed Supply:
    1. Transactions Covering Deemed Supply
    2. VAT Base: Net Sales / Faire Market Price / Asset NBV / Inventory Value /
    3. VAT Rate: Basic, Zero, Exempt

  • System Impact:
  • In order to accurately calculate VAT and satisfy strict VAT Audit Requirements by government TAX authorities GCC VAT PRO ERP solution is delivered to you with VAT Compliance Organization Data, Master Data, Operational Transactions i.e Sales Order, Service Order, Stock Purchase, Expense, Credit Memo, Debit Memo
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  • VAT Code:
  • GCC VAT PRO ERP solutions uses in built VAT Code Methodology to determine the appropriate VAT Treatment for any give business transaction.
  • Structure of VAT Code

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  • E.G. VAT Code for Taxable Material Purchased for Personal Use/ Production of Exempted Supply
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  • Input VAT: Goods and Services Purchased
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  • Output VAT: Goods and Services Sold
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