Vat Consultants in UAE

VAT Consultants in UAE

Value added tax is applicable for most goods and services. VAT in UAE will help raise revenue for governments in the gulf cooperation council. All consumable products like smartphones, cars, jewellery etc will be taxed. However basic food items, healthcare, education, bicycles and social services are exempted from VAT.

A VAT consultant deals with all procedures involved in taxation. They assist clients’ right from the preparation up to filing for returns. VAT consultants perform impact assessment to detect how the taxation affects your business. Impact assessment is the process of reviewing key documents pertaining to the existing contract to analyze the amount of tax to be paid. They identify the areas where taxation affects your business and suggest alternative methods to reduce taxes.

A Vat consultant can help with cash recovery by reviewing indirect tax liabilities, ensuring you are paying the right amount and recovering the overpaid VAT and claiming retrospective tax refunds. Vat consultants can also help small businesses that may benefit from cash accounting and flat rate schemes by examining their business and helping them to make an informed choice. They also provide their clients with transaction support and act on behalf of your business in tax disputes and review documentation for tribunal appeals.

Many businesses hold their dedicated accounts and finance depatment that takes care of all the accounting and VAT paper related works. But millions of small businesses lacks the service and any minor mistake on the filling returns and VAT returns end up in heavy fines and penal actions. To avoid such situation, here we have grouped authorised and certified VAT consiltants to serve you the VAT filling another financial service solutions in UAE. Following are the VAT registration process followed by the listed group of leading VAT consultants in UAE.

The listed VAT consultants experts offers the following solutions
1. Handles all the issues related to VAT returns, refunds and revised funds etc
2. Takes care of all the VAT complications in the business
3. Ensures all the VAT input credit is availed
4. Sytem implementation to ensure that accounting and VAT records complement each other
5. Handles isuues related to audits, SMR procedures, investigations etc
6. Takes complete care VAT returns and refunds

The team of qualified experts and professionals helps with all the possible doubts with VAT related queries. They understand every business model and performs a study to understand the impact of VAT on your business. They also interpret the complexities and guides all the accounting procedures. Some of the services offered by VAT consultants include

VAT registration
VAT returns submission
VAT refunds claiming
VAT deregistration
VAT training
VAT advisory services

VAT Consulting and registration with a tax authority

UAE Ministry and Finance introduced new tax rules and regulations starting in Jan 2018. The new VAT rule implementation ensures VAT implementation, VAT health check and VAT planning for your business. Following are some of the rules that every business operating in the UAE must be aware of

Exploring VAT services in UAE

Getting VAT filing the right way makes a big difference in your business. Every small and medium business rending service or supplying products is liable for VAT in UAE. The submission of VAT involves a series of steps. The online submission of VAT is straightforward, but getting it right the first time is a thing. Here we have a list of VAT consultants with expertise in all the industry.

Who can apply for VAT?

Owners in case of sole traders
One of the partners for partnership business
Director of the company for corporate business
An officer on behalf of unincorporated bodies
An authorised agent or VAT consultant listed with us on behalf of the company

Steps to Register VAT

VAT registration steps include
Initial analysis of VAT compliance and eligibility
Finding the annual supplies VAT components
Estimate the annual VAT value as per the UAE guidelines
Determine the VAT registration timelines
Submission of VAT registration application either online or through VAT consultants.

Companies registered in UAE must collect VAT on taxable goods or services offered to their clients.
Every company registered in UAE is entitled to claim the VAT paid on their business.
Businesses should maintain accurate VAT collection records for the relevant Government departments to verify.

VAT is a tax implied based on the consumption of the product or service. There they apply to organizations dealing with goods and services except those exempted by the law.

Sectors Exempted From VAT by LAW

Following are the sectors exempted from VAT by law
Financial service companies listed in VAT legislation
Local passenger transport
Residential properties and
Land without assets