Pursuant to the decision of the Royal Court No. 24957 dated 12/5/1437 AH, containing the request of His Excellency the Secretary General of the Council of Ministers to obligate the private sector to maintain accounting books and the application of electronic billing systems as of 01/01/2018 and to instruct the General Authority for Zakat and Income to determine the invoices to be complied with for tax purposes The company must meet the required conditions that allow it to fulfill its tax obligations. This requires the Company to make certain changes in its core operations, financial management, methods of accounting and accounting records, as well as the technical means it uses to enable it to recover any VAT it has paid for goods or services related to its business, A set of business records that allow the government to validate its transactions.
The consultancy services provided in the following stages are as follows:
The first stage :
Reviewing the commercial, administrative and accounting processes of the company to determine the citizen who may need changes or modifications in the policies, procedures and sales and accounting systems to be compatible with the VAT legislation once applied and identify the exemptions related to the activities of the company, and we will discuss what we reached with you since all that follows this stage Of the work of the result of this stage.
The second stage :
Proposing amendments and changes to the policies, procedures, financial and accounting systems, manuals, forms used, names, supporting documents to be obtained and the accounting group used and how to use them to be able to comply with the provisions of the VAT legislation.
The third stage :
Supervise the preparation and implementation of a plan of action for change and adjustment processes.
The fourth stage :
To test the systems and procedures that have been modified and to evaluate the validity, accuracy and effectiveness of the modified regulations for the application of value added tax.