Muscat: Tally Solutions, a leading international business management software provider collaborated with The Institute of Chartered Accountants of India (ICAI) - Muscat Chapter, the national professional accounting body, to provide support in a seamless transition to VAT.
The partnership will oversee Tally supporting SMEs in collaboration with ICAI, where the association will provide domain expertise and Tally will support the SMEs with digital solutions to make the transition seamless.
While ICAI will educate the SMEs on processes and regulations related to VAT, Tally will emphasise the role of digital technologies in accessing tax and financial data, along with following compliant procedures for a smooth transition.
Speaking about the collaboration, Vikas Panchal, Business Head- Middle East, Tally Solutions said, “Tally has always been committed to supporting SMEs in their journey towards automation and with our collaboration with ICAI we aim to ensure a smooth transition to this new tax regime through effective digital solutions. We have supported thousands of businesses in the UAE and Bahrain in their journey to VAT compliance and are completely prepared and excited to replicate the same in Oman. Our aim is to encourage businesses in the country to adapt robust digital solutions that will not only help them transition to the new processes easily but also stay compliant at all stages."
Tally has announced a special edition for the members (practising CAs) of the ICAI Muscat Chapter that will assist hundreds of businesses in the implementation of VAT. The company has recently launched its VAT ready business management software
TallyPrime, to assist the auditors and Oman business owners towards an easy transition to the new tax regime. The company has also been continuously engaging with the members of the ICAI Muscat Chapter on the powerful VAT capabilities of TallyPrime.
CA N Ramanand Prabhu, Chairperson of ICAI Muscat Chapter added, “Tally Solutions has been a key associate of ICAI, and we are thrilled to have them on board with the Muscat Chapter. This collaboration will serve as a key milestone for the Chapter to bring about some interesting knowledge-sharing sessions for the business community in the Sultanate of Oman. We are confident that Tally’s expert thoughts on digitisation and VAT will help the business community transition to VAT seamlessly.”
To ensure that businesses have the right information and knowledge about VAT, Tally is hosting a series of activities and webinars. In addition, the company is also committed to creating content through educative blogs and articles featuring in-depth information on VAT, VAT Summit with subject experts, free VAT Chalk-Talk for the small and medium businesses community in Oman and an introduction of a local toll-free support system, which aims to provide information on not just the product, but all queries related to VAT.
With the fast-changing economy and compliance landscape in the country, the two organisations are working closely towards assisting the SME community in the Sultanate. In addition to hosting virtual conferences with ICAI, Tally is also conducting several webinars in the country for SMEs to share updates and tips on working remotely and staying connected with their customers.