GCC VAT Compliance
GCC VAT Compliance (GVC) system is an enterprise level, on-premise / private cloud hosted solution. It is integrated with your ERP / source systems so that all revenue and purchase transactions are automatically uploaded in to the GVC system at defined intervals. The system automatically computes the VAT Returns for all the GCC countries where VAT is implemented, including Saudi Arabia, United Arab Emirates, Qatar, Oman, Bahrain and Kuwait.
The system provides the following features:
- Computing entity returns and group returns, where law permits
- Automatic computation of all return boxes with drill down to transaction level
- Computation of recoverability of tax credit including partial recoverability
- GL reconciliation
- Return filing workflow with maker/checker, authoriser and audit trail
- Ability to edit transactions directly in GVC system, or source system
- Robust reporting and dashboard
