Case study: Saudi Telecom Company (STC)

Scenario

Saudi Telecom Company (STC) is a telecommunications company with headquarters in Riyadh, Saudi Arabia offering landline, mobile and internet services. Although operating chiefly within KSA, STC is a truly multi­‐national communications firm, with subsidiaries across the world, subject to a plethora of differing VAT requirements. Which, from 1st January 2019, included Bahrain. When Bahrain VAT launched in January 2019 STC was already a client of Innovate Tax, therefore, at the time of legislation announcement were aware of our ability to assist with upgrades to their tax automation.

Approach

Being obligated already under the KSA regime,  STCC was primed for planning for Bahrain VAT, including instructing Innovate Tax to upgrade the existing tax automation  set-­‐up,  which itself had been designed and implemented by Innovate Tax. As with Bapco, STCC was able to avail of our agile technology solution and functional support experts to bring about the changes. As an existing client, STCC had instant confidence in our ability as a tax technology firm and dedication to our clients.

What did Innovate Tax achieve with STC?

RapidInstall™ enabled the addition of Bahrain VAT tax logic to STCC’s automated determination set-­up within a matter of days to weeks, not weeks to months. When deadlines loom and the penalties for non-­compliance can be severe, every moment saved is precious.

Key points

  • Saudi Telecom Company, multinational footprint
  • Roll out of individual country VAT regimes
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