Focus Softnet is organizing multi-city seminars on tax accounting and filling of VAT returns through its cloud-based ERP solution. Of the two seminars announced, one was successfully conducted on the 15th of March, 2018 in Dubai while the second seminar will be held in Abu Dhabi on March 19th, 2018 at Dusit Thani. The full-day seminars are covering various topics including the UAE VAT framework, business models and transactions with VAT implications, scope of services and goods covered, tax credit, statutory compliance, documentation, VAT accounting and invoice calculations, first VAT return, and changes in Focus ERP system. Speaking to media persons, Mr. Sunil Mathew, Chief Operations Officer of Focus Softnet said: “Since the formal launch of value added tax in UAE on 1st January 2018, Focus Softnet has been receiving requests from customers on the VAT process, on compliance and how they can improve the tax filing and returns further.”
He further added that the upcoming seminars in Dubai and Abu Dhabi, with an industry specialist, are an effort to update Focus Softnet’s vast community of small and medium businesses and enterprises of the latest regulatory changes that are now built into Focus ERP. “In addition to the regulatory compliance, we will also be addressing the benefits of cloud based operational expenses models, simplification of technology complexity, and the benefits of public cloud upgrades,” Mr. Mathew added.
Focus Softnet has engaged taxation expert, Mr. Pankaj S. Jain of AskPankaj DWC as a guest speaker, to give participants an overview of the UAE VAT process and address concerns and queries of participants on compliance, tax returns and other VAT processes. Mr. Pankaj has more than 14 years of extensive experience in India and Europe and specializes in the entire spectrum of VAT and GST indirect taxation.
“Focus Softnet wants to ensure that we go that extra mile for our customers. By partnering with industry tax experts, we want to give our customers a hands-on approach towards implementing and managing VAT inside the UAE. This seminar will also give our customers confidence in the updates that we are bringing into our solutions and keeping the solution up to date with various compliance requirements. Such a hands-on and practical approach can help small and medium businesses and enterprises jump-start their awareness and capability of managing VAT on a daily basis,” Mr. Mathew concluded.
With over 25 years of rich experience in the ERP realm, Focus Softnet is known for its innovation, expansion and growth. Right from its first product, the company’s emphasis has always been on continuous R&D and teamwork to ensure that its products are feature-rich and built on state-of-the-art technologies.
Partnering with reputed organizations and business associates across the globe, Focus Softnet today has evolved into a true multinational organization with 27 offices in 18 countries across Asia, Middle East, Africa and North America. All its solutions are compliant with local tax regulations and are known for combining technology with the best industry practices. Currently, its serving more than 30,000 customers in the GCC region alone while its users have surpassed the 1 million mark.