Supervision of VAT Registration Process to get VAT registration number.
Prepare the current activity flow chart to identify how VAT is affecting which type of activity.
Prepare the proposed activity flow chart documents after incorporating VAT.
Advise on the implication of VAT in terms of Cost to be incurred in the entire process
Monitor, supervise and advice the Systems Personnel for smooth implementation of VAT
Propose and recommend Journal Entries for VAT transactions (Input Tax, Output Tax, Net VAT liability) in line with IFRS standards
Coordinate with Systems Personnel to generate the required output in the Books of Accounts as per VAT legislation
Coordinate with Systems Personnel to generate periodic returns in the prescribed format
Train the company personnel about the procedures to follow in preparation of Sales invoice, accounting for purchases, services provided/received, preparation of Vouchers for expenses which have VAT implications ,etc.
Supervise and provide support for the preparation and submission of Periodic Report by the Company Personnel
Coordinate with Company Personnel for making payment of correct VAT to the Government before the due date
Provide VAT procedure manual for the employees to follow
Provide VAT support during the first year of operation of VAT