VAT Enabled Cloud Accounting Software

Business Benefits

Online and offline synchronization for storage and smooth access of data
Introduces a new hierarchy structure or strengthens the existing one
Strengthens the workflow and defines approval trees

Functional Benefits

easy and efficient integration
different modules
uses practices of international standards for every industry

Technical Benefits

Bulletins Enables you to take decisions
Convey team and then monitor them while on-the-go
Easy to use and get familiarized with real time data flow

Value added tax

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

Key points to remember

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

How will you be affected ?

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

Get ready with Traacc

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

Is your accounting software

Vat Ready?

TRAACC is a well-designed software system that connects all the areas of your organization including those related to indirect tax