With more GCC countries introducing VAT and changing regulatory requirements in countries that have already implemented it, banks and financial institutions will need to adopt a proactive approach to ensure compliance. It is critical for banks to understand the complexity of implementing a GCC VAT product and best practices that can aid them in a smooth VAT compliance journey.
In this eBook, we answer some pertinent questions regarding implementing a GCC VAT compliance solution:
- What are the essentials of a robust VAT system?
- Should banks buy or build a GCC VAT solution?
- The difference between a centralized and decentralized implementation approach
- What key aspects should banks consider when embarking on a VAT implementation project?