Virtue of VAT in GCC

 Value Added Tax (VAT) in United Arab Emirates (UAE) and Kingdom of Saudi Arabia (KSA) from January 1, 2018 is likely to be contemplated as a positive by the to Gulf Cooperation Council (GCC) .

Change is the vital part for any organization. Change imposed by circumstances and change that is planned and adopted to encourage growth or improvement. This applies to both individuals and large-scale enterprise organizations. The term VAT is not merely a tax change but a business change as it will impact all functions of an organization such as finance, sales, procurement, pricing, information technology, contracts, supply chain and logistics, warehousing, commercials etc. Thus, it is imperative that all these functional teams should be aware about the VAT.

We must approach a proper erp namely Microsoft Dynamics.

Where one can handle your business swiftly which is adhere to the complex VAT Structure.In this regard, its pertinent to note that most of the key aspects of the VAT regime are already in based on this qualitative and quantitative knowledge available to the Microsoft solution provider through the entire business eco-system .Early initiation of training will give the concerned employees, vendors and customers a sense of involvement a confidence to gear up for the change much before VAT legislation

VAT create an analysis exercise towards the respective department heads such as finance, supply chain, product pricing, human resource, Logistics etc. should be involved to ensure that they provide their inputs and suggestions.Based on the possible cost savings to suppliers / vendors, the organizations can have discussion with its vendors for passing of benefits by way of cost reduction, Early discussion and engaging with vendors will ensure maximum possible benefit to be passed on to the organization.