Twenty thousand companies in the United Arab Emirates move from a manual system to a digital accounting system

20 07 2018

Taxation

More than 20,000 small and micro enterprises in the country have moved from manual accounting to digital accounting

Since the introduction of VAT in the country in early January, Companies have taken this qualitative measure to comply with the VAT Act and to provide their income tax returns electronically, in addition to keeping their accounting records for the next five years.

Vikas Panthal, Director of Operations and Business Development for Next in the Middle East. Imperatively for companies around the world. They not only facilitate operational efficiency and cost, but also ensure safety, speed and smoothness. Digital VAT has enabled a fast and modern service to help businesses comply correctly and reduce errors while issuing returns.

Digital accounting systems help to manage and record records in a timely manner. As digital accounting facilitates the organization of work, it also allows companies to easily access tax information. The digitization of VAT is an advanced step for companies to optimize their operations and improve their competitive position in the sectors in which they operate.