ERP Software

The Kingdom of Bahrain (Bahrain) has enforced its Value Added Tax (VAT) Law under the Royal Decree No. (48) of 2018. The VAT will be implemented on 1 January 2019. There are many differences in Bahrain’s VAT Law in aspects of key areas corresponding legislation introduced in Saudi Arabia and the United Arab Emirates (UAE) in that provides for more broader zero-rates as well as exemptions, with a unique view to balance a variety of socio-economic objectives. Let us have a look at the background  As of November 2016, the Gulf Cooperation Council (GCC) Member States has executed the Common VAT Agreement of the number of States belonging to the GCC (GCC VAT Agreement), which outlines the framework that Member States are required follow while implementing their domestic VAT rules. Saudi Arabia along with the UAE implemented their VAT laws as of 1 January 2018. Bahrain has also released the VAT Law dated 9 October 2018 on their Official Gazette website. The Royal Decree h...

effitrac lets you exchange your local currency and carry out money transactions with more ease. The process is 100% Safe, Secure and abiding by regulations. You can customize your Role Based Access and Monitor User Activity after categorizing them. So what’s more? Stay updated with the latest currency trends. Generate real-time report, for better vision. effitrac Mobile App platform lets you perform the Money Exchange and Transfer from any time, anywhere. The special features include setting up your preferred language, uploading local mandatory agency reports on a daily basis. Customized feed-files are sent to the respective banks all over the world automatically. The time period of transfer and exchange of currency is also noted. The passport number is also validated. The Blacklisted contacts are filtered and blocked. In the case of Money Transfer , the commission rules can be customized according to the norms and regulation. View the profit and loss that is reflected in the t...