AJC in partnership with BLP is offering XERO for FREE

AJC, in partnership with BLP is offering XERO FREE for a year to every qualifying Vanuatu Business.

We are proud to announce a new program that will help small and medium size enterprises (SME) in Vanuatu to move their accounting to XERO at zero cost for one year. This program will help qualifying SMEs to take advantage of simplified and streamlined accounting that XERO offers. AJC will help participating SMEs in the transition and offer necessary training to the SME’s employees.

Xero is a cloud base accounting software, created in New Zealand, it is currently used by more than 500,000 Small and Medium business in Australia and it is spreading fast across the Asia Pacific region. XERO is helping business to grow. XERO is 2018, if you have not made yet the switch, you are still working with old desktop software, if you have not yet computerized your accounting, this might be a good opportunity to make the move and to enhance your operations.

This program is possible with financing from Business Link Pacific. Some conditions apply.

Contact us today to see if your SME is eligible in this program.

AJC will give you access to XERO free for at least 12 months from the subscription date ( if the program is successful the free access shall be extended to 24 months). Xero Access cost at normal price USD 40$/ month for multicurrency account of USD 30$/month for single currencies.

With each access we will also give you a half an hour quick tour either via phone or at our office and help you out with really basic stuff such as setting up Vat within the system and setting up your company ID.

If you need further services from AJC such as setting up your trial balance, conversion dealing when moving from MYOB or other old technology accounting software, monthly help, Vat Return, VNPF return, annual account, audit, each of these are separate services that AJC can offer you, simply ask for a quote. These extra services might also qualify for an extra BLP grant, up to 50% of the professional fees involve could potentially be covered by the program.

You could also opt for other services providers for these services and still get the benefit of having your XERO access through AJC for free. With XERO you can invite an unlimited number of adviser to access you file online to help you out.

No more backup, and file corruption ever, no more lost of data, no more end of year process, no more close of year and start new year, all data available forever, everything in the cloud, all supplier invoices attached soft copies within the system, this is the beginning of AI ( Artificial Intelligence), increase productivity, increase accuracy, simple to learn, online video, etc. etc. Choose from hundred of add on apps that are seamlessly integrated/compatible with XERO, cold be for your POS, or PMS, or your ERP, or maybe managing only your stock, or your calendar. XERO and the ecosystem is evaluating every days, this new technology is a window to the future.


AJC International Horse Show 2018

The 6th edition of the AJC International Horse Show is happening this Sunday 13 May at Bellevue Ranch. It’s free and exciting for the whole family. Riders will fly from New Caledonia to compete in the AJC derby, a race particularly challenging to them as they have to ride horses they are not familiar with and get to know them only briefly before the competition. It is also a great opportunity to build links with foreign riders/clubs and show the quality of the academic horse riding in Vanuatu.

This AJC competition is also a qualifier for our riders to compete in the Horse Pacific Challenge held in Nouméa every October, an event that opposes Vanuatu, Australia, New Zealand, Tahiti and New Caledonia.

The Caledonian team from the club l’Etrier will arrive on Thursday and take off on Sunday, which gives them time, in addition to competing, to get a feeling of what matters while touring a little on our beloved island.

This coming AJC International Horse Show will start at 9 am and will include show jumping, derby, a thrilling, high-speed event on cross-country jump and a jumping relay, from 1 pm to 3 pm with 15 teams which is highly fun and entertaining to watch.

It’s Free. Come and enjoy this great family day and breathtaking competition at Bellevue Ranch this Sunday 13 May, enjoy a burger or a nice cold drink as Kandy’s Kitchen (K2) will be catering the barbecue.

The Riders’ Club and Stéphanie would also like to thank their loyal sponsor AJC for their continuous support as well as Lionfish design and the many Riders’ Club volunteers who make this event a success. For more information, visit The Riders’ Club’s Facebook page.

 


Vanuatu Government increases minimum wage effective 1 January 2018

Following on from the recently announced increase in the VAT rate to 15%, the Government has also approved an increase in the minimum wage from VT170 per hour to VT200 per hour effective 1 January 2018. Employers are advised to review and adjust staff salaries if required. A summary of the impact of the increase is shown below.

Full-time employee 40 hours per week 44 hours per week
Old monthly salary (gross): VT29,467 VT32,414
New monthly salary (gross): VT34,667 VT38,134

The change represents a 17.64% wage increase to workers on the minimum wage. Employees earning more than the minimum wage are not affected.

Happy New Year to all workers!

Official Gazette No. 96 of 2017 (dated 29 December 2017)


VAT increase starting 1st January 2018

The Government of Vanuatu has officially advised that Value Added Tax rate will increase from 12.5% to 15% from next Monday 1 January 2018.

A summary of how the rate change will impact your business is as follows:

Businesses registered for VAT on a payments basis

  • Payments received or made on or after 1 January 2018 for invoices issued on or after 1 January 2018 will attract the new rate of 15%.
  • Payments received or made for invoices issued before 1 January 2018 will remain at 12.5%. However an adjustment will be required on your VAT return to correctly account for it. Details are in the Transitional Guide released by the VAT Office.

Businesses registered for VAT on an invoice basis

  • If the invoice was issued before 1 January 2018, the old rate of 12.5% applies (and will be included in that period’s VAT return).
  • If the invoice is issued after 1 January 2018, the new rate of 15% applies.

Clients are reminded that the next two VAT returns (due on 5th January and 27 January 2018) relate to the period’s November and December 2017 respectively, and therefore the old rate of 12.5% still applies when calculating VAT payable/refundable.

Businesses utilising computerised accounting systems such as Xero, MYOB, Quickbooks, Opera, RoomMaster, etc. will need to manually update the tax rate in these systems on Monday 1 January 2018 to ensure that the correct VAT rate is charged. Please contact your software support provider/preferred advisor should you require assistance with this.

Additional documentation

Official Gazette No. 95 of 2017 (dated 22 December 2017)

VAT Rate Change – Notice to retailers

VAT Rate Change – Calculations

Customs VAT Rate Change – Calculations Bislama 291217

Customs VAT Rate Change – Notice to retailers Bislama 281217

Customs VAT Rate Change – Calculations French 291217

Customs VAT Rate Change – Notice to retailers French 281217


Martin St-Hilaire Interviewed by Vila Times

Read the interview our Managing Partner Martin St-Hilaire gave to Vila Times last week. It’s about Vanuatu’s financial sector and its future, the Income Tax, and the EU “bullying” Pacific tax havens.

Read the full article on Vila Times website.

Cover photo by Phillip Capper