Our Impact Analysis services provide a comprehensive understanding of the implications of Value Added Tax (VAT) on businesses. We start by thoroughly examining business transactions and determining the applicability of VAT. By identifying potential areas of impact, we help businesses anticipate and prepare for the effects of VAT compliance. Our analysis also includes assessing the impact on cash flows and working capital, ensuring businesses have a clear understanding of the financial implications. Furthermore, our transitional compliance support offers assistance with VAT registration, customized training, and workshops to help businesses navigate the changes. We review and amend existing contracts, develop standard operating procedures (SOPs) and compliance manuals, and provide IT diagnostics and modifications to adapt to the current or new IT systems. Our goal is to design new corporate and business documentation that aligns with VAT requirements. Finally, our post-VAT implementation support covers computations for input credit eligibility, assistance in filing VAT returns and adapting to any legislative changes that may occur. With our VAT Accounting & CFO services, we review and analyze existing charts of accounts, provide routine accounting help including VAT accounting, maintain supporting documentation, and offer support for statutory compliance, including updating VAT master data of vendors and conducting vendor reconciliations for VAT credits

Impact Analysis

  • Understand the business transaction & establish the applicability of VAT
  • Flag the potential impact of VAT compliance on business
  • Ascertain the cash flows & working capital impact analysis

Transitional Compliance Support

  • Provide support for VAT registration Organize VAT-related training and customized workshops
    Map out all transaction types and review/amend any existing contract with customers/vendors
  • IT diagnostics/modification to adapt to the current IT system or migration to a new system Designing new corporate and business documentation for compliance

    VAT Accounting & CFO services

  • Review and analyze the existing chart of accounts of the business
    Routine accounting help including VAT accounting Maintain supporting documentation
  • Support services for statutory compliance Update VAT master data of vendors Vendor reconciliation for VAT credits Perform contract reviews
  • MIS preparation and reporting

Post-VAT implementation support

  • Computation of eligibility for input credit Compute the final VAT liability
    Assist in filing VAT returns in a timely manner
  • Support any changes as and when required due to changes in the legislation