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Getting Ready for Value-Added Tax (VAT) – White Paper – Epicor ERP

Value Added Tax (VAT) is a relatively straightforward tax that is simple to comply with, is generally free

Value Added Tax (VAT) is a relatively straightforward tax that is simple to comply with, is generally free from economic distortions, and is neutral to changes in trading and distribution patterns. From a government perspective, the introduction of VAT has advantages. It is inflation-neutral, a reliable generator of income, and applies to a broad base consisting of goods, services, real property, and intangibles, as well as being a proven system adopted in many countries globally. For these reasons, VAT is a good option to ensure that there is sufficient funding for public spending should oil and gas revenue fall significantly without non-oil public revenue rising to cover the shortfall.

 

About Encompass Solutions

Encompass Solutions is a business and software consulting firm that specializes in ERP systems, EDI, and Managed Services support for Manufacturers and Distributors. Serving small and medium-sized businesses since 2001, Encompass modernizes operations and automates processes for hundreds of customers across the globe. Whether undertaking full-scale implementation, integration, or renovation of existing systems, Encompass provides a specialized approach to every client’s needs. By identifying customer requirements and addressing them with the right solutions, we ensure our clients are equipped to match the pace of the Industry.

Sean Balogh

About Sean Balogh

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