VAT Implementation

The introduction of VAT and its implementation will have a considerable impact on your business. The challenge is to identify and implement all the business processes neccessary to enter the VAT regime without disruption. Our VAT Experts can help you achieve that.

Implementation Recommendations

 

  • Developing roadmaps through to 1 January 2018 or at the least the first quarter of 2018 and developing a resourcing plan to identify the work necessary to be ready to submit VAT returns in 2018.
  • Mapping the transaction footprints to determine all future VAT liabilities and compliance obligations are easily overlaid
  • Reviewing and updating contractual arrangements with vendors and customers to determine each party is aware of its responsibilities for paying and accounting for VAT where it’s necessary
  • Including appropriate clauses in contracts and implement changes to contractual terms, where necessary, e.g. to manage VAT costs in Vendor contracts or future pricing/revenue in customer contracts
  • Renewing accounting and revision systems to account for VAT
  • Updating policies, guidelines, manuals
  • Adjusting the budgeting to account for operational costs of incurring the VAT taxed inputs

Our team of VAT experts will be happy to assist you with all of these action steps and more. Contact us and get effective implementation of VAT within your organization.

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