The introduction of VAT in the GCC region from January 2018, in line with the Framework signed off by the GCC countries, presented a major opportunity and challenge. VAT introduction will make every qualifying business a tax collector for the Government with a need to maintain proper accounting books. This is a challenge for businesses and an opportunity for accounting firms to help businesses overcome this challenge. We do believe there is an acute need for professional accounting firms in the region, resulting in setting up of Overture in the first quarter of 2017.
Our focus areas:
Small, Micro and Start-up businesses: – We focus our energy and service proposition keeping in mind the requirements of small, micro and start-up businesses, for whom the VAT Compliance requirements from the point of view of mandatory need to maintain proper books of accounts can be major cost item. The key reason being a lower volume of transaction making it unviable to hire a full-time accountant, multi-skilling of staff to perform accounting dilutes the focus on core business resulting in inadequate business development efforts for these businesses.
We offer a value for money cost-effective proposition, which helps these businesses fully comply with the accounting and VAT accounting requirements all the way to filing the Tax Returns, without having to employ full-time specialists for these activities on their own payrolls.
We believe in a partnership approach. We work closely with our clients with a view to adding value to their business endeavours. We strongly believe in building a long-term professional relationship instead of short-term gains. We are focused on professional, cost-effective and time-bound service delivery to meet and exceed our client’s expectations. Our target customer segment SME’s and Start-ups.
Our customer attrition rate is minuscule validating our approach. This has encouraged us to add Businessmen services activities to our portfolio in 2019, to provide our customers with a significant cost and turn around time reduction for all their PRO services activities with our established best in class service proposition.