Challenges for You
Are you Ready for VAT?
As a transactional tax, VAT has some far reaching impacts on how you do business. As a taxed registered business or individual, you will need to make changes to ensure your core business operations can manage the VAT compliance obligation and control costs. VAT affects how you sell, how you buy, how you account and record for VAT, and how you can recover VAT and report accurately to manage any future queries from the FTA.
To guide you, below are some of the key questions you can use to evaluate your businesses capabilities for VAT: