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VAT in the GCC

Impact on the Business

  • Ensure whether proper books of accounts are maintained and updated
  • Check whether your business meet the criteria for registering for VAT collection
  • Registration for VAT in the GCC
  • Collection of VAT in the invoices raise
  • Keep record of VAT paid in Invoices of Vendors to avail credit
  • Filing VAT returns and payment of VAT to the Government

 

  • VAT shall impact the pricing structure and profit margins to factor the VAT in all the invoices raised by business. A critical analysis will be required for this to ensure that business will face the least impact by preparing customized pre and post VAT scenarios for every busines
  • Also, increase in price may result in result in decline in customer spending. It will be challenging to maintain the same.
  • Business model should be restructured to ensure:
  • Increased efficiency in operations
  • Restructuring of supply models to ensure reduce cost of procurement of raw materials and capital goods
  • Possible negotiations with vendors and suppliers
  • Restructuring of Human resources to ensure that the staff is competent enough to deal with the challenges bough in by the new law
  • Restructuring of accounting systems and IT systems to ensure proper compliance and competency with new requirements

How IMC Can Help

  • Understanding the needs of client’s business and estimating the impact of VAT on the business
  • Preparing Pre and Post scenarios for ascertaining impact on business
  • Analysing various areas of positive or negative impact and the causes behind them
  • Providing most accurate information for decision making
 
  • Advise client about various legal and procedural requirements
  • Checking and verifying the books and records as per the legal requirements
  • Prepare an implementation plan based on requirements of client
  • Registration with relevant Governmental authorities
  • Completing documentation and other requirements
  • Liasoning with authorities and governmental bodies on behalf of client

We’ve been
helping customers globally.

Book a consultation appointment with our professionals now.

We’ve been
helping customers globally.

Book a consultation appointment with our professionals now.

What our customers are saying

Best Consultant to set up company in Singapore. Excellent team of People. Perfectly oriented and guided by team. Best in the country as well as business.

— Karan Patel

We have been taking IMC service more more than a year now. They have been completely professional in their approach and they give us an overall perspective for each query we have.

— Monisha Wadhwa

We approached IMC for our trademark applications and have been working closely with Mayuri from the IMC team in Singapore. We had an absolutely stress-free experience.

— Anjana Singhvi

IMC Singapore is one of the best Consultant to set up company in Singapore, they have an excellent team of People who guide you right from the begining to start up new company in Singapore .

— Saket Brijendra

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in mind?

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Reach us at

+971 4 3709963

A Member Firm of Andersen Global

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