Client Overview
- Leading infrastructure company operating in construction industry
- Footprint over GCC
- Annual turnover of over 15 million AED
- SAP ECC 7
Business Need
- SAP Gulf VAT implementation covering end to end scenarios from procurement and sales.
- Map VAT components on identified business process according to government norms.
- Analyzing GAPS and propose viable solutions to attain efficacy.
- Landscape transformation by adopting tried and tested methodologies.
- Generic VAT analysis reports with exclusive VAT return reports based on prescribed government formats. Customised reports developed on-request.
Challenges Involved
- Identifying custom procurement/sales scenarioswhich deviates from SAP best practices and having direct impact on VAT
- User Trainings
- New requirements from clients which require custom code development to enhance existingSAP system.
Innoval Solutions
Innoval Digitals will help your business by,
- Conducting an in-depth study of business processes
- List key business transactions from both revenue and expense side
- Mapping VAT components to applicable key business processes
Aiding in Ongoing compliance support, Handholding till stabilisation,
Transition aspects and Accounting
We have successfully implemented VAT for GCC countries such as UAE,
Bahrain and Saudi. We expect countries like Kuwait, Oman, and Qatar
to introduce Value Added Tax in the coming future and with our SAP
solutions your business can adopt the new changes seamlessly.
Business Benefits
Our solutions empower and equip clientsto maximise voluntary
compliance, which leads to significant increases in the collections
overall.
In this region, our solutions aim to proactively initiate and
encourage smoother tax implementation from the very beginning. These
integral initial changes pave the way for internal employees and tax
officers to create consolidated taxpaying processes across regimes,
levies, duties and charges. This essentially creates a conducive,
tax-friendly environment that acts as a catalyst inhelping tax
requirements gain greater visibility; saving valuable time involved
in filing as well as processing