Sunday, December 3, 2017

What is VAT?

Value Added Tax (or VAT) is an indirect tax imposed on all goods and services that are bought and sold by businesses, with a few exceptions. VAT is applied in more than 160 countries around the world as a reliable source of revenue for state budgets. VAT is imposed at each stage of the supply chain from the production and distribution to the final sale of the good or service.

VAT Compliance

AccuWare is compliant with VAT (Value Added Tax) as per requirements of VAT law recently passed by the Saudi government. The software modules that are compliant with VAT requirements include: accounting, sales and purchasing modules. Learn more.