ACS signed a MOU with Taxviser Consulting Pvt. Ltd., a group division of GrayLogic

22/04/2018

Bahrain’s leading Business Automation Solutions provider, Almoayyed Commercial Services a division of Almoayyed International Group – Bahrain has signed a MOU with Taxviser Consulting Private Limited a group division of GrayLogic – India to implement an online invoice generation and tax filing portal PayMyVat.com software which will help dealers, retailers and tax professionals in preparation of tax returns under the Value Added Tax (VAT) regime. The MOU was signed by Mr. Mohammed Farouk Almoayyed, ChairmanofAlmoayyed International Group and Mr. Vihari, Co-Founder & CEO, PayMyVAT.com at Almoayyed International Group’s Head Quarters in Bahrain on 13th December 2017.

The VAT enterprise software is aimed at businesses who want to become VAT compliant and allows real-time data visibility, customized reporting and tracking between businesses. The PayMyVAT.com software prevents errors and has separate versions for CAs and Enterprises. VAT tax professional software is being launched for chartered accountants and tax professionals who can use it for VAT compliance and VAT return filing for their clients.

Commenting on the occasion, Mohammed Farouk Almoayyed, Chairman of Almoayyed International Group, said: “businesses have much to do to prepare for the introduction of VAT and PayMyVAT.com is doing everything it can to support them throughout the process. I am confident that the PayMyVAT.comsoftware will help the organizations to improve their performance and boost competitiveness”.

“We are acquainted the requirement of business needs and are happy to launch the PayMyVAT.com software to the new tax regime. Moving to a new tax regime can be a challenging task particularly for a region which is being introduced to VAT for the first time. Keeping this in mind, we have launched PayMyVAT.com software which will enable businesses to quickly record and print VAT bills in English and Arabic with ease, helping organization to accelerate their VAT compliance journey from day one” said – Mr. Srinivasan, CEO – International Operations, Almoayyed International Group.

“Our association with Almoayyed International Group has now opened up new doors to UAE & KSA as VAT will come into force from January 2018. It reinforces PayMyVat (paymyvat.com) commitment to simplify indirect taxes after taking a lead in GST in India. We spoke with a vast range of enterprises and small businesses about their needs. We want to bring the same ease to filing for indirect taxes and help businesses become VAT compliant,” said Chief Mentor & Group Director Mr. Bhanu Prakash Varla, GrayLogic India.