Mir Group is one of the leading conglomerates in Bangladesh with core interests in construction, manufacturing, and business process automation. The group consists of multiple subsidiaries, each with its legal entity and VAT registration. The group’s diversified portfolio includes residential, commercial, and infrastructure projects. Managing VAT compliance across the group was a complex and time-consuming process, as the group had to deal with various VAT rules and regulations for different industries.
Mir Group implemented Ergo VAT management software to address this challenge for its subsidiaries. The software provided the following benefits
Centralized VAT Management: The software provided a centralized platform for the group to track and manage VAT obligations across all subsidiaries and countries. The group’s finance team could access real-time data on VAT payments and deadlines, reducing the risk of late fees and penalties.
Improved Accuracy and Efficiency: The software’s built-in validation checks and tax calculation features helped the finance team avoid errors and reduce the time spent on manual data entry and calculations.
Enhanced Reporting and Analysis: The software generated comprehensive VAT reports and analytics for the group, which the finance team used to identify trends, optimize tax planning, and improve decision-making.
Flexibility to Handle Different VAT Rates and Exemptions: The software allowed the group to set up custom VAT rules and rates for different projects and countries, ensuring that the correct VAT was charged and claimed.
Overall, the VAT management software enabled Mir Group to efficiently manage VAT compliance and improve efficiency across its subsidiaries and diverse construction portfolio, saving time and resources and minimizing the risk of errors and penalties.
