Does FTA Accredited VAT Accounting Software is required for Filing VAT? Perfonec
The Federal Tax Authority’s (FTA) needs for accrediting the tax accounting software really reflects the promise of the Authority to simplify the taxpayer's life in adhering to the VAT compliance. This also emphasises the significance of usage of an accounting software in the journey of achieving 100 % fulfilment for businesses. The major objective which FTA wants to force through the Tax accounting software requirements is that the automation of all tax based everyday jobs of a taxpayer such as keeping track of records, payments, file VAT returns, generating FAF (Audit File) etc. Once the accounting software is accredited by FTA, it is definite to simplify the VAT compliance for businesses. The following are some of the key benefits of FTA Accredited Tax Accounting Software. 1. Generating VAT compliant tax invoice, Debit note and Credit note 2. Regular generation of VAT return form (VAT 201) with zero or minimum ...