Helping you meet your global objectives
In order to cope the today’s global market changes. Dealing with it successfully requires vision, flexibility and the support and knowledge of specialists. Our aim is to not only ensure that our clients embrace change, but prosper from it.
Through developing strong relationships with Middle Eastern clients, Nation Wide is well placed to provide businesses with insight and opportunities.
Our clients in the Middle East and across the globe benefit from practical, commercial accountancy and business advisory solutions tailored to their own unique challenges. We tailor our offering to meet their specific needs through our focus on excellence. Due to the strength of our relationships in the region we are also experienced in supporting our Middle Eastern clients in expanding into, or investing in the UK.
VAT in GCC
The introduction of VAT is more than just a finance issue, it is a business issue and could impact all areas of the business from purchase to pay, cash to report.
We can assist you in ensuring that the impact on your business is managed.
Planning — Preparation — Implementation — Review
VAT can be a complex and expensive issue for businesses in every industry. In preparation for the introduction of VAT in the GCC we would strongly recommend that businesses:
- undertake a risk review to evaluate the potential impact of VAT;
- review existing contracts and determine the correct VAT position and who will pay for the VAT;
- review proposals and tenders to evaluate the impact of VAT;
- ensure all IT systems are VAT enabled, not just the accounting system;
- communicate with employees, customers, subcontractors and suppliers so that you can ensure that everyone is aware of potential issues and that there are no surprises come January 2018;
- implement training for employees who will be dealing with VAT and who need a broader understanding of its commercial implications.