Over 260,000 companies and over 10,000 groups (one or two companies in a group) have registered for value added tax since it came into effect earlier this month, director general of federal tax authority Khalid al Bustani said in Abu Dhabi on Tuesday. “We are satisfied with the implementation of VAT registration so far. Applications of some companies are under processing and some applications have been returned because of wrong information. We are expecting to conclude the remaining registration process…

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VAT - Technology and systems An assessment of existing IT systems and its capabilities as well as the required configurations necessary in order to generate VAT compliant data is important. It may be that in some cases, significant changes will be required to your existing IT platforms. These might also include present workflows and processes. Most ERP systems will need to be enhanced and modified to incorporate all aspects of VAT implementation. From your point of sale terminals, invoice and…

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  Openbravo: Inovate reports on some amazing improvements in usability and analysis Openbravo Analytics is a powerful embedded analytics engine pre-included with every installation. And it just got much better!  All you have to do is upgrade to the latest version of Openbravo Analytics - and then reap the benefits of advanced analytics capabilities. And of course, a much more friendly user interface. Openbravo Analytics leverages open source technologies to generate advanced analytical reporting. Standard functionality includes out-of-the-box analytics, reports…

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VAT Registration in the UAE

Posted by Dhananjay Khare on November 27, 2017

It's a fairly simple process for VAT registration in the UAE. Businesses should complete an online VAT Registration form which is available through Federal Tax Authority online portal since mid of September 2017. The Voluntary Registration can be started in third quarter of 2017 itself, however, it is mandatory to register in the fourth Quarter. Once the registration is complete, a Tax Registration Number (TRN) will be provided to the applicant. Documents required for VAT Registration in the UAE. Trade…

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Heralding the new VAT regime

Posted by Dhananjay Khare on November 24, 2017

Heralding the new VAT regime – 4 step guide. 2018 will herald the VAT regime in the UAE. All businesses are required to be compliant with the VAT by 1 January, 2018. Here is a simple four-step guide to help you in the UAE to prepare for VAT implementation. If your IT is outsourced we recommend that you get going on VAT implementation immediately. For more details on how we can help with your ERP/ Accounts IT implementation, please do…

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