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How to integrate VAT in Microsoft Dynamics AX

 

We all know that VAT is going to be imposed in UAE and other GCC Countries in the start of January 2018 and its becoming a burning topic these days. Corporations and Enterprises are now making quick moves to become VAT Complaint and have also started registering for their VAT number for their corresponding VAT authority.

What is VAT (Value Added Tax)

VAT is a general compensation TAX to a products sales price. It represents a tax on the “value added” to the product throughout its production process.

VAT in Microsoft Dynamics AX

SME’s and Enterprises will need to implement VAT in Microsoft Dynamics AX and their other ERP software’s.

Microsoft Dynamics AX will use a tax matric to calculate VAT. The main configurations that will be needed are:

  • Activate VAT
  • Set up tax components for VAT in Microsoft Dynamics AX
  • Set up VAT schedules
  • Set up sales tax groups for VAT
  • Set up tax codes for VAT

VAT Consultancy for UAE and KSA

We need to bring your attention to configure and implement application of VAT in Microsoft Dynamics AX for UAE and KSA.

We are a one-stop, end-to-end solution provider on VAT advisory, including IT support and deployment services. You should always consider professional advisers, who understand your business to ensure your VAT compliance to handle it professionally.

WE can help you investigate your VAT process designs, compare it with the benchmarked global practices and advice you the best solution against your VAT compliance issues.
We will be glad to conduct a free session to familiarize you on the principles of VAT and its general implications. Additionally, we can help to:

  • Conduct a VAT assessment on your business and Microsoft Dynamics ERP systems;
  • Recommend changes to the accounting and ERP systems to ensure compliance with the VAT legislation;
  • Assist in the process of VAT registration with the Federal Tax Authority (FTA);
  • Provide your business with ongoing VAT support.
  • Provide deployment of other IT solutions including Microsoft GP, NAV and Dynamics, in case current financial systems are not VAT compliant.

Is your ERP VAT Compliant?

The impact of the taxes should be administered accurately in the Microsoft Dynamics AX ERP system to avoid compliance risks.

the compliance risks such as

  • The new business structures
  • Changes in tax administrations
  • Changes in logistics flow
  • Legislation changes

Our VAT Consultancy will have focused risk review and consultation of VAT in your Microsoft Dynamics AX ERP system that will give practical visibility of how to address these risks.

Contact our experts now to get more details on our VAT advisory services