November 28, 2018
Value Added Tax (VAT) has been introduced in UAE after being modeled with policies of EU VAT. After imposing VAT as mandatory governmental sales tax, there are many companies (small, medium sized or large sized) that cannot handle or control the VAT structure in UAE. Additionally, it was estimated that around 40.5% business operating in UAE that have not been using an effecting accounting software for capturing numerous tax transactions. In the light of such fact, there are companies that are known for providing VAT solution in UAE to help such businesses in VAT management.
There are some points which are made considerable by VAT solution providers to the businesses in regard of VAT. They are as follows:
It is recommended for businesses to research on best VAT solution providers in UAE as there are some solutions based on software that are not VAT compliant in UAE. By performing a good research will help the company to take business operations in a correct direction and the hassle to recheck with VAT is also minimized to a great extent! In such manner, it is ensured that the company is adhered with respect to VAT and it is VAT compliant.