Outsourced VAT Management
Outsourced VAT Management
Save time and cost by outsourcing entire VAT function & mandatory record keeping to us and stay compliant in all aspects with assured peace of mind.
Overview:
Outsourced VAT Management service is designed to set you free from cost ,hassle and complexity associated with in-house VAT record keeping and compliance. Our services include capturing of all VAT related business transactions, mandatory record management as prescribed by Federal Tax Authority and filing of VAT returns.
Objective:
To improve efficiency and reduce cost of VAT compliance.
Highlights:
- VAT records must be kept for a specific period of time.
- Records may be kept on paper or electronically.
- Records must be accurate, complete and readable.
Benefits:
- Save time, cost and hassle of in-house VAT management function.
- Lets you focus on your core business activities.
- Be VAT compliant in all aspects with accuracy and on timely basis.
Deliverables:
- VAT Transactions Processing – Entry of business transactions pertaining to Procurement, sales, import, export, VAT general ledger and adjusting journal entries.
- Month end VAT Reports - Clients receive month end financial reports pertaining to VAT accounts with related details.
- VAT Returns Filing - Preparation, review and filing of VAT returns.
VAT Mandatory Record Keeping
- Copies of all issued invoices.
- Originals of all received invoices.
- Debit or Credit notes.
- Import and Export records.
- Records of any goods given for free or allocated for private use.
- Records of all zero-rated or VAT exempt supplies and purchases.
- A VAT General Ledger Account.