VAT Registration

• It becomes mandatory for a legal person in the UAE to register for VAT if the value of taxable imports and supplies in the previous 12 months exceed AED 375,000 per annum.
• It is voluntary to register for VAT if your taxable turnover is more than AED 187,500 but less than AED 375,000 per annum.
• If in the next 30 days you expect your taxable turnover to cross AED 375,000 per annum you are under an obligation to get yourself registered under VAT.

VAT Implementation

VAT is an indirect tax which is levied at each stage of the supply chain. It can be classified into three categories:

• The standard rate of 5%
• Exempt goods
• Zero-rated goods

We can assist our clients in categorizing their goods and services in the above three classifications and assess the impact of VAT on their sales and profitability. By providing them with the pre and post scenarios, we can analyze the negative and positive impact of VAT on your business.

VAT Return Filing

Return filing forms an integral part of the VAT system. It is used for reporting the VAT paid and collected by the entity to the tax authority. The online portal of the Federal Tax Authority is available for filing VAT e-returns. Every entity mandatorily required to register under VAT has to file a VAT return within 28 days from the end of each tax period as described by the FTA. Our VAT experts can prepare and submit the tax returns on your behalf while complying with all the pronouncements of the VAT law applicable.

VAT Audits

VAT audits provide a detailed review of an entity's overall VAT readiness and compliance procedures. It entails identification of major discrepancies in the VAT milieu, including transaction checking. Based on the reviews, the entity can validate their VAT treatments and properly account for all the business transactions to ensure accurate information gets submitted to the FTA. VAT audits are an effective tool to avoid double-payment of tax or the possibility of undercharging a consumer.

VAT Advisory

Our mission is to offer comprehensive VAT services under one umbrella that take into consideration the varying aspects of your business. Our staff is fully equipped to handle all VAT related compliance and accounting procedures. Our deep-seated understanding of the subject empowers us to determine the impact of VAT on all areas of operation and provide advisory services to clients from all over. We aid our clients in setting up a fully functional VAT comprehensive accounting system by providing them training in seminars and workplace.