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Get VAT Ready with Microsoft Dynamics and Levtech

Microsoft Dynamics Readiness for VAT in GCC

VAT is around the corner in GCC and this would mean that there will be a significant impact on businesses. A major milestone in this direction was the Unified Agreement for VAT that was published in the official gazette of one of the member states, Saudi Arabia. The Unified Agreement provides the framework for the operation of VAT across the GCC.

Global experience has shown that VAT planning, training and education is fundamental to ensure successful VAT implementation. Business focus should be primarily on ERP system and business process readiness, communication, staff training, and sourcing VAT knowledge internally or externally.

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Operational Benefits of Being VAT Ready

Manage VAT payable and receivable

Reduce adverse impacts on cash flow

Ensure compliance with VAT obligations and reporting

Minimize risk of fines, penalties and reputational damage

VAT Implementation Plan

  • Assess capability of existing systems Read more
  • Identify VAT implementation strategy
  • Identify contracts that need a VAT action
  • Identify intercompany transactions
  • Undertake training / awareness

Read more on the project approach

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How can Levtech help?

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