The UAE and KSA are the two countries that rolled out VAT in the GCC on January 1, 2018. Whether you are in the UAE or KSA, as a business owner you need to ensure that your business practices are tax compliant and you are able to generate VAT return correctly before filing.

How to file accurate VAT Returns in UAE and KSA?

Generate and file Accurate VAT return confidently with Tally.ERP 9

Tax Computation and Analysis

Before you file your VAT return, won’t it be great to get a complete picture of all business transactions and taxes? With Tally.ERP 9 you can do even more.

The VAT tax computation and analysis report show transactions that have been included or excluded in the return, the total amount of tax to be paid, and refundable amount if paid in excess. You can drill down further from each of these groups to find out why.

Being able to get a complete picture and understanding of your VAT return before filing is a powerful value addition to your business.

Automatic detection of errors

Apart from helping you understand your VAT return to the last level of detail, Tally.ERP 9 identifies tax mismatches, wrong TRNs (UAE), wrong TINs (KSA) or any other missing tax components. Tally.ERP 9 ensures that your VAT return is error-free.

Generate your VAT return as per GCC VAT guidelines

If you are in the UAE, Tally.ERP 9 lets you generate your VAT return in PDF format and use it as a reference while filling in details in the FTA e-Services portal for filing return.

If you are in the KSA, Tally.ERP 9 will generate your VAT return in MS Word format. You can use the document as a reference while filling in details in the GAZT e-portal for filing the return.

Save VAT return in your system

Once you have filed your VAT return, you can save a copy of the return on your computer. Tally.ERP 9 keeps track of changes that are made on the saved return period. You can either reject these changes, accept them and file a revised VAT return.

Declare reverse charges in a VAT return correctly

In Release 6.4, you can mark transactions with reverse charge applicability, and transactions for which you have paid VAT at customs. This way you can keep a track of your reverse charges and Input Tax Credit. This will further help you to report Input VAT as well as output VAT in your quarterly VAT return.

With Tally.ERP 9, you can be ready for filing VAT return anytime. It helps you to keep your books updated at all times and you can generate VAT tax computation and analysis report anytime. Tally.ERP 9 lets you focus on business growth while managing all the complexities of VAT compliance in the background.