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Oracle VAT Services

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Consideration with specified inclusions and exclusions and a different mechanism for deemed supply.
Input tax deduction
Companies will be able to set off their tax payment against input credits for taxable supplies.
There will be penal consequences for non-compliance.
Transitional provisions
Every GCC country is to provide domestic laws for transitional provisions as the implementation dates may differ from country to country. The challenge for the business community in the Gulf will be to understand the dynamics of this new regime and plan ahead to adapt to this transitional business change.

Staying one step ahead

Organisations must start assessing the business impact of VAT across all functions. Your business must:
Assess the impact of the upcoming VAT law from a tax, process and technology perspective.
Realign its strategy.
Set-up a compliance framework and assess the capital and resources required.
Commercial contracts should be reviewed from a tax and commercial perspective.
It is critical to act now to assess business readiness for VAT, reassess business profitability, mitigate risks and avoid non-compliance penalties.

How we can help

With the needs of our global and domestic clients in mind, we pursue a quality-centric approach for providing a one-stop indirect tax solution. Our multidisciplinary experience in global VAT compliance for MNCs through our Knowledge Process Outsourcing (KPO) services has enabled us to build cost-effective solutions for global indirect tax structures. Leveraging our global and domestic indirect tax experience, we have formulated VAT Business Advisory and Compliance services to assist our clients plan ahead and effectively mitigate transitional risk. At SKP, we plan to assist your company in bridging the gap over to VAT by offering an end-to-end VAT solution structured into four modules. Keeping in mind the unique and diverse requirements of each client, we give you the freedom to select and customise the services most suitable for your business from our list of services below.