In January 2018, VAT (Value Added Tax) is going to be imposed in UAE and consumers will be liable to pay 5% of Tax on purchasing certain goods and services. The six states in GCC, have confirmed to implement VAT in regions that are going to achieve around $25 billion excess every year.
Since VAT will be imposed, all businesses will have to change their core operations, financials, book keeping, technological aspects and human resources to get all set for VAT implications.
They will also have to ensure, they include clause in the contracts for the VAT burden that will spell to the consumer end.
IAX Services will offer VAT and TAX compliance experts who have years long diverse experience in achieving VAT compliances and reporting for customers.
VAT and ERP
IAX Services will be offering Consulting, ERP Risk Review Practice, and VAT Add-ons for ERP for our customers to get people prepared as soon as it is here in UAE.
If you are looking to achieve the best compliance across your VAT administration, then IAX Services can serve as a best partner to you for VAT Consultancy.
Our consulting services will include strategic tasks where we will try to evaluate the best VAT system design, configuration options and third party tax reports to audit your existing environment and identity all the financial risk you are exposed to.
Our diverse knowledge of VAT and deep rooted, years long expertise in ERP, will help us determine to identify your main business areas in relation to the global VAT complexity issues. IAX Services will investigate your VAT process designs, compare it with the benchmarked global practices and advice you the best solution against your VAT compliance issues.