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VAT ENABLED CLOUD
ACCOUNTING SOFTWARE

POS
RETAIL
RESTAURANT
TAILOR
COURIER
SMART
CARGO


Business Benefits

  • ONLINE AND OFFLINE SYNCHRONIZATION FOR STORAGE AND SMOOTH ACCESS TO 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

  • ENABLES YOU TO TAKE DECISIONS, CONVEY THEM AND THEN MONITOR
  • THEM WHILE ON-THE-GO
  • EASY TO USE AND GET FAMILIARIZED WITH
  • REAL TIME DATA FLOW AND EASE OF ACCESS

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 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

How will you be affected?

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

Get ready with traacc

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.