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Frequently Asked Questions on VAT

Last updated on 06 April, 2018


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How do I get my business ready for VAT?

A few guidelines to get your business VAT ready:

  • Familiarize yourself with the VAT law, its implementations, and key policy positions.
  • Have an accounting system in place with a Chart of Accounts for recording your transaction and supply details.
  • Ensure you have a mechanism for record keeping, VAT balance assessment, and payments for the purpose of VAT registration and return filing.
  • Implement a technical solution to display prices, issue receipts, and record sales of your business.
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