Simply stated value added tax, or VAT, is a tax that is levied at multiple stages as goods and services move across the supply chain to the final consumer. As countries in the GCC try to safeguard their future, the implementation of VAT has become pertinent
5% Standard tax rate with exemptions on Particular industry and items will be applied from 1st January 2018. Businesses with an annual turnover of USD 100,000 or More need to register for VAT and Returns to be filed in Every 3 Months
With the advent of fiscal reforms in the region business will have to adapt their operations to comply with new regulations
Tax included in invoices
Maintenance of records for up to 5 years
Returns filing
Transparency in documentation
With January 2018 value added Tax deadline is fast approaching, make sure your business is prepared to handle it with Traacc software created by our highly trained team of experts, our software is rated one of the best in the region
We welcome partnership opportunities and provides strategic business partner to extend your business and drive growth and profitability