Need to change Primary Authorised Signatory Mobile Number & Email Id. Here's step by step guide to change primary authorised signatory details on gst.gov.in(GST Portal)Read More
Tax grouping or VAT grouping means two or more companies or limited liability partnerships can be potentially considered as a single taxable entity for the purpose of VAT. For taxation in UAE, VAT/tax group is regarded as a single company, which is still under the terms and conditions stated in the law. As defined in the Federal Decree-Law Number 8 of 2017 VAT/Tax Group is “Two or more persons registered with the authority for Tax purposes as a single taxable person in accordance with the provisions of this Decree-Law.”VAT grouping in UAE allows two or more entities to be registered as a tax group. Learn the value add tax pros and cons in our blog postRead More
Many Manufacturing Companies, Service Providers, Hospitals, Hotels are worried about the IT Impact which has arrived Due to Change in whole Tax Regime. Most businesses in Saudi and UAE are using SAP, Oracle, Sage, Acc-Pack, JD Edwards, Legacy System or Legacy version of such Software. Some have Home-Grown their ERP as per their Requirements. Even IT Software Companies need to start working on their Software in order to comply with the Needs of the VAT Law.Read More
VAT is implemented in the Kingdom of Saudi Arabia with effect from 1st of Jan 2018. Even the first monthly return was due on 28th of Feb 2018. This being a transactional tax change, it has impacted the way business was done apart from the cash flow and P & L to a great extent. This article lists down the ongoing clarifications, press releases and changes post VAT implementation.