Altapete Solutions (APS) Private

Limited is an comprehensive
professional business services
providers. We deliver accounting, tax
and VAT consulting, human capital,
IT/ERP consulting, management
consulting. VAT (Indirect Tax) consultancy services
VAT readiness and implementation, VAT Trainings for Finance
VAT return review and filing
VAT function outsourcing & ad-hoc services
ERP consultancy services
ERP Implementation and support (Standard & Customized ERP)
ERP Outsourcing and maintenance
ERP review, audit and health check for enhancements
Accountancy and financial advisory services
IFRS Conversion from SOCPA and IFRS training
Accounting book keeping and reporting
Accounting function outsourcing
Internal audit
Financial analysis and Financial reporting (Accounts finalization)
Introduction of GCC & KSA VAT
Published its draft VAT law for comments in May 2017.
Published its draft VAT implementation regulations for comments in July
History 2017.
Published its approved VAT implementation regulations in August 2017.

Standard rate of VAT is 5%.

5% - VAT Zero-rated for exports, approved medicines etc.
Exempted leasing of housing etc.

VAT is applicable on supply of goods and services and imports.

KSA VAT VAT Registration: Turnover>SAR 375,000- Mandatory; Turnover>SAR
187,500- Voluntary.
LAW For violation there are certain penalties.

Starting date of VAT is 01 January 2018.

VAT Registration dead line is 20 December 2017 if Annual Turnover > SAR
JAN 2018 1M. Turn over between SAR 1M and 375K 20 December 2018.
Finance, Sales, Purchase and IT must get ready before January 2018.
 VAT implementation, readiness & outsourcing
Identify project resources
What are the benefits of
Understand the 'as is' situation being VAT ready?
PHASE 1: PLAN Assess the impact of VAT
AND ANALYZE 1- Maximize VAT recovery on
business inputs

Map supply chain processes and transaction flows to VAT requirements 2- Reduce adverse impacts on
Review legislation and assess impact
Model input tax credit allocations
cash flow
Assess IT impact
PHASE 2: Prepare an issues log to help prioritize key issues that need to be addressed during implementation
Review sample contracts
3- Ensure compliance with VAT
ASSESS IMPACT obligations and reporting
Help prepare an implementation plan

4- Minimize risk of fines, penalties

Prepare and assist with implementation
and reputational damage
Assist with IT VAT solution design
Assist with IT implementation support
PHASE 3: Assist with VAT registration Deliverables:
IMPLEMENT Provide VAT technical training VAT impact assessment
VAT policies / procedures formulation
VAT training materials and guides
Advise on VAT clauses incorporation into the contracts.
Test exceptions Advise on VAT invoice templates development in line with
Prepare and file VAT returns regulatory requirements
Resolve any teething issues VAT transaction mapping and advise for IT/ERP system
PHASE 4: GO
Fine-tune compliance practices
LIVE VAT Return review and filing
Post-Implementation on-going support for VAT
function/department
Accounting Software (ERP) with VAT functionality
 Our Team

Name Qualification Experience

Shahzad Qamar ACA +15 Years
MCOM MNC
Sohail Saeed ACCA +15 Years
ACMA MNC
Amir Saleem Member LHC +12 Years
CA Final Big 4 Experience
Muhammad Fahad CFC +10 Years
CA Final Big 4 Experience
M Sohaib Sajjad FCCA +8 Years
BCOM Big 4 Experience
S Mustafa Arshad ACCA +5 Years
BSc Accounting and Finance Big 4 Experience
Strategic business partner in KSA and Bahrain

QUALITY CORE CONTRACTING SERVICES

CR. No: 2051062907
Office No 09
Fourth Floor, King Khalid Street,
Cross 15, Al Khobar 34427 KSA
Cell: 0533820454
Tel: +966 13 802 1636 (www.qccsgroup.com)
Email: info@altapetesolutions.com
Altapete Solutions Private Limited
Office No. 34, Ground Floor Orchard Heights,
Bahria Town Orchard, Lahore-Pakistan
Phone: +92 322 499 9847
Email: info@altapetesolutions.com