VAT IT Solutions Advisory

Due to transactional nature of tax, VAT must be verified and accounted for, producing adequate documentation for each individual transaction. The enterprise systems must be able to guarantee accuracy and the ability to generate all necessary information as required by the management and in the event of a request or audit by the tax authorities.

An assessment of the existing IT systems capabilities is necessary to identify the amendments/upgrades required for accurate and timely VAT Compliance, Audit trail and data validation reports, Management Reports and Document Management System.

Ranging from changing the invoicing and accounting, to calculation and classification of various heads of an invoice, to meeting management reporting requirements, the application of VAT is going to have a bearing on the enterprise wide systems. For calculating the tax obligation, tax refunds, tax credits the organization needs to have a redesigned VAT compliant software.

We at Haynes Path will facilitate the project management of your IT systems mapping, implementation, upgradation and customization in line with your specific business needs.

An organization may decide any of the following IT strategies based on its specific business and regulatory requirements:

  • Introduction of new IT system
  • Upgrading of existing IT system
  • Integrating Tax Engines with existing IT system

Leading global VAT Compliant IT solutions are:

  • SAP
  • Oracle
  • SAGE
  • Navision
  • QuickBooks
  • NetSuite

We at Haynes Path along with our IT implementation partners will assist you in seamless integration for not only VAT Compliance but a comprehensive framework of business planning, policies & procedures and financial reporting & analysis capabilities to meet specific business requirements.