While the GST has been called to halt for the time being, what other surprises will businesses get in the near future?
Changes and policies
Government policies can change overnight, rates can be altered and more changes are affecting businesses in one way or another. Businesses have been using Information Technology (IT) to sustain business, build relationships, increase sales, manage commissions and even control employees. Changes like Goods and Services Tax (GST) or Value-Added Tax (VAT) and in some countries Withholding Tax, are but a small and insignificant addition.
Impact on Changes
However, the impact could be huge. Are your staffs prepared of these changes? How many memos, faxes, reminders, emails and broadcasts are going to be sent out just for one small insignificant change? Is your IT system prepared for the changes and what are the costs of upgrade? Any additional trainings to your employees after upgrading your software? All these need to be countered in.
The XeerSoft Factor
Whether is Withholding Tax, VAT or GST, XeerSoft has the experience in implementing these taxes in Singapore, Thailand and Vietnam. So, at XeerSoft, like it or not, we welcome GST as an opportunity to service our customers. No additional charges to upgrades and definitely no charges involved for extra trainings needed. Talk to us if you need to find out how XeerSoft services could assist your business by calling us at 03-9284 8286
Diagram 1: VAT implementation for a Vietnam based client
Diagram 2: Settings for Taxes – XeerSoft could assist your business
Diagram 3: Withholding Tax implementation for a XeerSoft in Thailand
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