Email : info@traacc.comEmail : info@traacc.com
TRAACC is a well-designed software system connects all the areas of your organization
- including those related to indirect 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.
5% standard tax rate with exemptions depending on
industry
January 1, 2018 date of implementation
Businesses with an annual turnover of US$1 million or
more need to register for VAT
Returns filing every 3 months
With the advent of fiscal reforms in the region businesses
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 the January 2018 Value Added Tax deadline fast
approaching, make sure your business is prepared to
handle it.
Be ready with Trasce software Created by our highly
trained team of experts, our software is rated one of the
best in operation.
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