Vat in Dubai

VAT (value added tax) is a kind of consumption tax that is placed on a product or service at the stage of production. This tax is included at every stage of production and until the point of retail sale, however, the maximum amount of tax is not borne by the retailer or the wholesaler but by the final consumer. VAT consultants help businessmen and businesswomen manage their tax efficiently and easily. They take care of all processes right from VAT registration, VAT impact on your business, VAT consolidation, VAT implementation and filing VAT returns. VAT in the UAE is imposed on most goods and services which are bought and traded across the country. You need to make sure that your business involves taxable supplies and imports. You are given the choice of registering for VAT either voluntarily and involuntarily. If you are looking forward to establishing a business in UAE you need to get in touch with companies which provide VAT consultancy services. A VAT consultant helps you gather essential documents required for VAT registration and guide you through the entire process. You need not waste money and hire a broker for VAT registration as VAT consultants guide you through the whole process without charging you extra.

VAT consultants also help you understand why it is implemented and how deep of an impact it leaves on your business. They help you predict the impact of VAT on your business before you implement it. They analyse your business beforehand and sketch a financial operating strategy which aids your business after VAT implementation. They provide the best guidance to minimize the negative impact of VAT implementation on your business. They provide the best business strategy to use VAT implementation to act as an advantage for your business and boost your revenue by a margin. Consultants collaborate with your existing accountants and auditors to come up with a suitable VAT implementation strategy that complies with the local law. They perform a process called VAT grouping that reduces stress on auditing and accounting operations and make your process easier and less time-consuming. VAT grouping acts as a useful tool which simplifies your accounting process and makes trade applications easier. It also assists you to get a VAT registered number and file for tax returns.

Value-added tax is also implemented in insurance applications and can also be linked to your import-export business. If you own an offshore company a VAT consultant will guide you through all formal procedures of registering for VAT as a foreign citizen. However, VAT is exempted for healthcare services, medicines, social services, export of goods and services, international transport, sale or rent of residential buildings, educational services and airline tickets. They are also exempted for surgery cost, public transport, visa charges and salary bonuses. However value-added tax is a general tax which applies to all forms of commercial activities which involve the production, supply of raw materials and distribution of goods. All forms of this tax are borne by the end consumer as consumption tax which is also a form of value-added tax. VAT is normally charged as a percentage of price as it is viewed at each stage, therefore, it is considered as a burden in the distribution chain. Value-added tax is often collected as a fraction by the process of partial payment. A taxable person is authorized to deduct tax which is already paid at the primary stage. Some popular locations to get in touch with companies which provide VAT consultancy services in Dubai are Next to Atrium centre, BMI building, Al Quasis plaza, Abu Hail road, Liwa heights JLT, Al Abraj street, business bay and Khalid Bin Walid street.