In order to promote diversification, governments across the GCC region have introduced various initiatives to reduce the dependency on oil generated incomes and further stabilize the economy.
As part of the stabilization strategy, we have witnessed a number of regulatory changes, with the recent one being the introduction of Value-Added Tax (VAT), which will be implemented from 1 January 2018.
In order to do so successfully and create a tax system which works, the need for businesses to invest time and effort in preparing their processes, structures, systems and people will only increase.
How Broadway can help you now:
Lack of familiarity with VAT rules & regulations
Availability of experienced and competent staff
Lack of proper accounting system
Our services ensure compliance with the VAT laws and regulations which are divided into the following phases: