Tally Solutions, a leading business software provider, hosted an event ‘Final Countdown to VAT’ in Bahrain, featuring experts and speakers to reiterate what businesses need to do to prepare themselves for the new tax regime and highlight the importance of automated solutions in VAT compliance especially in small and medium enterprises (SMEs).
Business Head-Middle East, Tally Solutions- Mr. Vikas Panchal said, “Our recommendations have always been for businesses to employ a simple risk management approach to understand the likely operational impact of VAT as well as automate their respective accounting and taxation processes for hassle-free business operations.”
The event also delved into the progress of the government’s implementation of the law in various stages and VAT’s impact on the country’s overall development. Tally’s efforts in Bahrain and the entire GCC have always been accelerated towards educating the businesses about VAT. They also air a VAT knowledge video series in the country to simplify the complex regulations.
Through ‘Final countdown to VAT’ the aim was to provide entrepreneurs an opportunity to talk to experts and clarify any that they may have around VAT.