Focus Softnet is holding two seminars to help finance departments to get up to speed with VAT using its software.
The full-day seminar will address various topics including the UAE VAT framework, business models and transactions with VAT implications, scope of services and goods covered, tax credit, statutory compliance, documentation, VAT accounting and invoice calculations, first VAT return, and changes in Focus ERP system.
The first event is in Dubai on 15th March Mövenpick Hotel, Bur Dubai and the second is on 19th March at Dusit Thani in Abu Dhabi.
"Since the formal launch of value added tax in UAE on 1st January 2018, Focus Softnet has been receiving requests from customers on the VAT process, on compliance and how they can improve the tax filing and returns further," said Sunil Mathew, chief operations officer of Focus Softnet.
"Our upcoming seminars in Dubai and Abu Dhabi, with an industry specialist, are an effort to update our vast community of small and medium businesses and enterprises of the latest regulatory changes that are now built into Focus ERP. In addition to the regulatory compliance, we will also be addressing the benefits of cloud based operational expenses models, simplification of technology complexity, and the benefits of public cloud upgrades," Mathew added.
As guest speaker and taxation expert, Pankaj S. Jain of AskPankaj DWC, will give participants an overview of the UAE VAT process and address concerns and queries of participants on compliance, tax returns and other VAT processes. Pankaj has more than 14 years of extensive experience in India and Europe and specializes in the entire spectrum of VAT and GST indirect taxation.
"Focus Softnet wants to ensure that we go that extra mile for our customers. By partnering with industry tax experts, we want to give our customers a hands-on approach towards implementing and managing VAT inside the UAE. This seminar will also give our customers confidence in the updates that we are bringing into our solutions and keeping the solution up to date with various compliance requirements. Such a hands-on and practical approach can help small and medium businesses and enterprises jump-start their awareness and capability of managing VAT on a daily basis," Mathew concluded.