Run Simple with Accelerated VAT – Professional Services Industry

On account of applied taxes on services, it is expected that the services are going to be expensive. Companies with significant level of revenue from services e.g. technology companies, consulting firms, professionals across various domains. commercial leasing, hotel management will be impacted on account of higher incidence of tax on the ultimate consumer. The customer’s discretionary spending will be affected in the short term, till that time savings on account of lower taxes on goods will be compensated by higher taxes on services spend.