On account of the new value added tax (VAT) rolled out by the Gulf Cooperation Council (GCC) from 1st January, 2018 the hospitality industry in the region gets all equipped to implement the new taxation regime.
Holding a constant aim to empower the industry with cutting-edge technology, eZee Technosys - worlds leading hospitality solution provider have made their solutions VAT compliant, ensuring a new way to provide high-quality customer service for their users in the Gulf countries.
The VAT will pose as a new source of income in the Gulf Cooperation Council states, which have minimal tax systems and no tax on income. With the VATs implementation, GCC businesses now have to start getting ready to comply with the new tax, which has lead the hospitality industry to look for VAT-ready solutions for their businesses.
Successful in providing GST compliant solutions in India and Malaysia, Green Tax compliant in Maldives and solutions with BIR accreditation for Philippines; eZee have taken a step ahead by providing VAT compliant solutions. Keeping pace with coming changes, eZee proves themselves as a true technology company, whose sole concern is to be ahead of competition and provide active live support to their customers.
eZees hospitality solutions which are VAT ready will be able to automate tax structure implementation as per VAT requirement, will offer correct calculation of VAT payables and will also generate VAT compliant invoices; ensuring reduction in manual errors for tax calculation.
We have been catering to the hospitality industry since years, and we currently have a pretty good idea on their needs. With the VAT compliance, our software will help users levy VAT accurately on transactions and generate precise VAT-related folios and reports at the click of a button, enabling them to file tax returns for their customers easily and quickly, says eZees CTO, Harshdeep Khatri.
The GCC VAT will be applied at the rate of 5% on goods and services (water, electricity bills, foods, jewelry, gold and number of other non-essential goods) with possibilities of exemptions and zero rating for some supplies and incentives for companies operating in certain sectors or free zones.
The hospitality sector contributes a significant amount to the GDP of the UAE and the Gulf countries. Most hotels and restaurants often have multiple sources of revenue, each with a different tax treatment such as the supply of food and beverages, spas and salons, banquet and business centres, room rates, tour packages, etc.
Thus, the hotel and restaurant businesses will need to implement robust technology to consolidate all such revenue streams and determine VAT liability in a comprehensive manner.
Weve packed-up our solutions to comply with the VAT in the Gulf countries, similar to how we have accommodated such reforms over the years. Our solutions are regionally compliant, allowing our users to offer flawless services to their guests along with changing government regimes. says Aeijaz Sodawala, the companys CEO.
Considering the fact that this region is known for destination weddings, shoppings and other festival events; eZee have accommodated their users in UAE with this new tax law and have proved themselves as a regionally compliant and up-to-date hospitality technology providers.
About eZee Technosys
eZee Technosys is a global hospitality technology provider. They offer On-premise as well as Cloud based solutions that includes hotel management, booking management, online room distribution, restaurant management, guest feedback and hotel mobile apps. The company founded in 2005, have been adept in developing cutting edge solutions from last 12 years serving more than 10,000 clients in more than 160 countries across the globe. Visit eZees corporate website for more.
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