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BTFConsulting unique Build-Operate-Transfer (BOT) model was an excellent choice. It was a cost-effective method of identifying the right candidates, developing system, setting P&P’s, implementing and training us all. Job well done!
Though viewed by many as just an accounting challenge, the new VAT system has a pervasive impact on the way you do business. Identifying the impact of VAT on costing, product pricing, cash flow, procurement and supply chain and implementing the essential changes in the current IT framework, accounting and financial reporting programs are the major challenges to face while ensuring compliance with the new guidelines.
New operating models will have to be adopted. Employees will need comprehensive training to enhance their skill sets for the same.
- Value Added Tax (or VAT) is an indirect tax
- Imposed on most supplies of goods that are bought & sold and services rendered
- VAT is charged at each step of the ‘supply chain’
- Ultimate consumers generally bear the VAT cost as businesses only collect and account for tax acting as tax collector on behalf of Government
Our Approach
Highly collaborative
Teaming our specialists with your management to leverage the best resources outcomes.
Comprehensive
Integrating a top-down strategic assessment with a team representing a broad range of experience.
Flexible
Tailoring an approach to your requirements, one that is sufficiently dynamic to change with conditions.
Risk-based
Address the most critical high-risk areas, balanced with “blocking and tackling” of the fundamental risks.
Communicative
Working closely with management to understand your business, your needs, the related risks and how those risks impact VAT implementation.
Technology based
Leveraging the technological resources and process engineering techniques to enable the team working effectively and efficiently.
Deliverables
- VAT readiness impact assessment report
- Process Redesign Reports
- Updated policies and procedures
- Training Workshop(s)
- TAX Identification Number (TIN)
- Post-Implementation Performance Report