An accounting firm improved data quality and reduced VAT returns preparation efforts by 60%
Cygnet Infotech launches custom solution for start-ups and MSMEs to ensure compliance in a cost-effective manner
Businesses in the GCC region have encountered several challenges in tax compliance processes. These include complex regulatory frameworks, evolving tax laws, diverse jurisdictional requirements, and manual dependency for preparing VAT returns. As a result, businesses often face difficulties in ensuring accurate and timely tax filings, reporting, and adherence to local regulations. Streamlining these processes with the help of automation is crucial to mitigate risks, avoid penalties, and maintain a consistent and efficient approach to tax compliance in the GCC region.
Seamless integration with varied business source systems for data transfer
Automated data validations & massaging enabling the standardization of data received In various formats from different sources
Reconciliation module for varied use cases and automated FTA FAF file preparation
Ready integration with more than 200 ERPs and proprietary systems eradicating human errors
Manage millions of records efficiently. Collation & processing of data from different legacy systems into single platform
Quick and easy review that eliminates the risk of penalties and a correction process to ensure data accuracy & completeness
Performs easy adjustments to suit various business cases, saves delay costs and resolve errors
Calculate VAT and stay compliant with frequent VAT Returns and Refunds updates for organizations with complex hierarchies & multiple lines of businesses
Download VAT compliant audit and refund report from the system with a single click anytime anywhere
Automate returns preparation, government authority audit file generation, input VAT apportionment and audit tracking
Reconciling Goods import and Goods export transactions with custom report and exit data for complex adjustments and calculations
Calculate VAT returns around imports accurately
Knowledge Partners
Solutions across India, UAE, UK, EU, Oman, Bahrain and KSA
Comprehensive product support and customised training