The UAE government is implementing a 5% value-added tax (VAT), and effective 1st January 2018, businesses at each step of the supply chain will be required to charge VAT on most goods and services. Companies must register for VAT, must clearly indicate how much VAT they are charging in each transaction, and must also retain business records for five years to facilitate tax audits.

Required ChangesMake sure your organization is VAT-ready in time

According to the UAE Ministry of Finance, businesses “may need to make some changes to their core operations, their financial management and book-keeping, their technology, and perhaps even their human resource mix (e.g. accountants and tax advisors)”. Do you have a plan in place for meeting the fast-approaching January deadline? To avoid legal repercussions, it is essential that you fully comply with all VAT-related requirements.

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ERP ExpertiseProperly configure your ERP platform for VAT

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Which of your goods and services are VAT-exempt? Does your business software correctly calculate VAT on each of your products? Does VAT grouping apply to your business? To ensure total and timely VAT compliance, you need an experienced implementation partner. Please contact TechVista Systems for help with fast-tracking all localized changes to Microsoft Dynamics AX, GP, NAV, or 365 that enable VAT transaction processing in full accordance with government regulations, and for enabling secure, multi-year cloud archival of all of your business records using Microsoft Dynamics ERP.

Next Steps

TechVista Systems is offering complimentary VAT consulting sessions to make sure organizations are fully prepared. Time is short, so get in touch with TechVista Systems today to schedule your free consultation.

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