The 'new and improved' tax system will require the majority of business owners to maintain digital records using
compatible software.
From the 1 April 2019, any registered businesses above the PS85k VAT threshold will be required to maintain digital records for VAT and submit their returns digitally using MTD
compatible software that can connect to HMRC systems via an Application Programming Interface.
It means that all businesses with a turnover of greater than PS85,000 will be required to submit VAT returns digitally using
compatible software. Manual records and spreadsheets will not suffice.
Such happy testimonials and contract renewals equip us to keep up to our promise of offering the best-in-class and globally-recognised and
compatible software services to our esteemed clients." Sheikh Hamad said, "As we move Qatar towards being one of the most digitally-connected countries in the world, it's crucial that we can count on the strongest and most reliable technical partners to support us in fulfilling this ambition.
Such happy testimonials and contract renewals equip us to keep up to our promise of offering the best in class and globally recognised and
compatible software services to our esteemed clients." Commenting on the renewed partnership, Sheikh Hamad said, "As we move Qatar towards being one of the most digitally connected countries in the world, it's crucial that we can count on the strongest and most reliable technical partners to support us in fulfilling this ambition.
From April 2019, all VAT-registered businesses with taxable turnover above the VAT threshold([pounds sterling]85,000) will be required to keep their VAT business records digitally and send VAT returns to HMRC using MTD
compatible software.
This is a concern as MTD will require VAT registered firms to have MTD
compatible software in place that can create a VAT return and connect to HMRC systems via an Application Programming Interface (API).
Some centers already have the
compatible software, according to Apple, but others will have to install upgrades to their existing software.
Organization and linking of digitized information to a
compatible software program will provide for more efficient and comprehensive research methods.
"Since the start of Nintendo Switch development we have been aiming to realize an environment in which a variety of different third-party developers are able to easily develop
compatible software, such as by making it compatible with Unreal and Unity as well as our own development tools," Takahashi said, as quoted by (http://www.polygon.com/2017/2/7/14534302/nintendo-switch-third-party-support) Polygon.