Saudi Arabia implemented VAT Accounting for all goods and services from 1st January 2018. There is no doubt that the implementation of the new VAT regime is difficult and that makes it difficult to progress for a smooth transition. There is uncertainty about the approval and release of the GCC VAT Framework Agreement, as well as the uncertainty of domestic legislation that puts the implementation of VAT on the risk of delay.
If you are looking for the best accounting software to manage all your Accounts, Invoices, Taxations, Payroll management and more, then go for “Tally”. Tally ERP accounting software is one of the best Accounting and VAT solutions for small, medium and large businesses in Saudi Arabia. We offer easy to use accounting software with single user and multi-user licenses.
It is important that all business organizations comply with the new VAT system in GCC. If the new framework is not followed, there is a serious risk that current business procedures will not be in line with the new legislation. Also, if the company cannot provide a comprehensive and accurate VAT accounting statement on time, a heavy penalty will be charged according to the new legislation.
How to prepare VAT solutions for your business? Prepare various scenarios for the design of the new online VAT accounting software structure. Track and monitor the new VAT policy development process constantly and review the capacity of existing IT systems to adopt the new online VAT software system. Maintain and implement VAT with the general strategic agenda of the business.
For more information on Accounting software and VAT solutions, make a call on 00966583117703 or log on to http://www.manalpro.com/tally. You can either have an online chat with one of our technical team member available from the website or send an email to tally@manalpro.com.
