To be compliant with VAT requirements, all businesses will need to make adjustments to their:
- Record keeping
- Accounting systems
- Financial reporting
In this process, businesses may seek the advice and support of professional accountants.
The General Authority of Zakat and Tax (GAZT) has taken actions to make sure that accountants are prepared for VAT implementation, by organizing rounds of conferences on VAT with SOCPA (Saudi Organization for Certified Public Accountants) and workshops with accounting firms.
If you need support from a professional accountant you can access the SOCPA list of licensed accountant firms on the following link.