This announcement, published by the United Arab Emirates Ministry of Finance on July 11, 2023, provides information about an upcoming legal change regarding e-filing the VAT Return (VAT201) in the UAE.
The legal change is in draft form, and its effective date will depend on the completion of a strategic transformation project expected to be finalized by the first quarter of 2025. This information is based on existing legislation and regulations that the relevant authorities may change at any time.
The UAE Ministry of Finance has introduced its Transformational Projects, which include developing a new tax platform called EmaraTax. It is crucial that the e-filing content remains unaltered and that taxpayers implement the necessary controls, including a timestamp, to ensure validity. Each e-filing submitted must have its authenticity verified, and the status of every submission can be tracked, along with the details of the VAT Return. While the legal change has been announced, further details have not been officially revealed, and no additional resources are available.
KGT is in official partnership with SAP for PE Services. As a trusted partner, KGT is uniquely positioned to configure SAP's Document Reporting and Compliance (DRC) solutions.
With SAP DRC, businesses can configure, generate, analyze, and electronically submit e-invoices, e-documents, and statutory reports, including those related to indirect taxes like value-added tax. KGT, backed by its team of SAP-certified consultants, is adept at configuring SAP DRC to meet your tax and statutory reporting needs.
When your SAP VAT determination logic needs rectification, KGT is committed to providing a thorough end-to-end solution to address and remediate any underlying issues. As an SAP tax consultancy firm, KGT offers best-practice recommendations and implements agreed-upon solutions directly within SAP. Therefore, KGT has outstanding expertise in configuring the SAP DRC solution, enabling us to showcase its advantages effectively over competing products. Our successful history of implementing SAP DRC for multinational clients underscores our proficiency as one of the few specialized SAP tax consultancy firms not constrained by audit rules.
Please contact us to learn more about our SAP add-ons or how KGT implements SAP's Document Reporting and Compliance (DRC), including SAF-T, e-invoicing, and other reporting requirements.
KGT is a SAP partner for PE services and SAP Build partner, and to become an SAP partner, strict due diligence requirements must be met, including having certified SAP consultants. You can find us at: https://partnerfinder.sap.com/profile/0001925409
