It has been a while since the UAE and the other GCC countries signed an agreement to implement VAT by 1 January 2018. For many companies, there may be a misconception that just because it is going live in 2018, they can wait until then before they start the process of preparing for VAT. The answer is no. Being able to capture VAT data and in a position to submit quarterly returns, managing cash flow, understanding the implications of how VAT affects the business model and educating the workforce on how the change affects them is not a task which can take a few weeks. It can take many months.