​​​As a representative of ​a small or medium business, one of your core responsibilities is to ensure the VAT readiness of your organization.

The following four-step guide details all the requirements for VAT readiness. If at any time you require more information or assistant i​n the VAT readiness process​​

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Further detailing of the readiness steps

1. VAT Law and Implem​enting Regulations
   
• Develop a detailed understanding of VAT
  
• Determine the tax policies of goods to be sold (5%, zero-rated, or exempt), for further information please visit VAT Implementing Regulations document
• Designate a point of contact in the company to deal with ZATCAon matters related to VAT
  
2. Accounting system and Chart of Accounts
• Establish a system for recording and archiving invoices
• Determine the VAT details of suppliers​​​
3. Technical solutions
• Set in place a consistent means of display for the price of goods (all VAT inclusive)​
  
• Issue sales receipts compliant with VAT requirements
• Align a system to record sales with VAT management requirements
• ZATCA has engaged with a set of PoS and accounting software providers. These solutions will support SMEs in implementing VAT.
• To find the list of PoS / accounting software providers which signed an MoU with ZATCA please click here.
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4. ​VAT registration and return filing
• Set in place a record keeping and account practices which address VAT requirements
• Set in place the ability to assess VAT balance
• Establish the ability to pay VAT balance​​​​​

For a further detailed readiness checklist for small and medium businesses, please click here​