To use Tally.ERP 9 for GCC VAT compliance, you need to activate the VAT feature. Once activated, VAT related features are available in ledgers, stock items, and transactions.
You can also generate VAT returns for countries where Returns are made available by their VAT department.
Activate KSA VAT in the company master:
1. In the Company Creation or Company Alteration screen, set the option Enable VAT? to Yes .
2. Specify the TIN for the business. This can be printed in the invoices as required. You can also specify this later.
3. Specify the Registration date. KSA VAT will be applicable for your transactions from this date onwards.
4. Select the Periodicity as Monthly or Quarterly. KSA VAT returns will be generated based on the periodicity selected.
5. Press Ctrl+A to accept the company details.
For more information on how to activate GCC VAT in Saudi Arabia, please get in touch with us on 00966-583117703 or visit our website at http://manalpro.com/tally.