UAE VAT CONSULTANCY SERVICES

It is the first time VAT is introduced in UAE and many business owners are unaware of the impact VAT Is going to have on their business. Many are oblivious to the amount of work required for their business to become VAT ready. We help these businesses transition from non-VAT era to post vat era.

As a VAT consultancy firm in Dubai, we suggest you start early as VAT implementation in a business needs time and effort creating a strategic design, VAT function model, execution, training and implementation. We help businesses transition from pre VAT era to post VAT era in a smooth and effective manner without losing time or money.

We provide all VAT related services and some more for the benefit of our clients. We work with you hand in hand to make it a hassle-free process. The steps and work required for a business to be VAT ready are:

Vat Registration: companies who have a net annual income or expenditure of 375,000 AED must register with Federal tax authority of UAE to get their tax registration number. For tax registration, you need proper company documents and financial statement’s of preceding 12 months. We help you audit, organize and present these records to the government in a professional and compliance ready manner. Companies who get their tax registration number can start collecting tax from their buyers for the government.

Vat Implementation: vat implementation is the second step in the transition of your business in Vat model. This step presents a significant challenge for the business. We know all businesses are different. We work to understand your business model and the impact VAT implementation could present to it before suggesting the changes in the administration and accounting for it.

Staff Training: for successful implementation of the VAT, handling of roles and responsibilities in an appropriate manner is required. Your current employees may lack the necessary knowledge of how VAT works and what are the key criteria they need to cover.

UAE VAT CONSULTANCY SERVICES

In-house

For the in-house model, apart from recruiting professional accountants in your team, you need to train your employees in matters pertaining to the VAT.

Co-Sourcing

In co-sourcing, the participation of your company is equal to the auditing firm.

Outsourcing Model

In outsourcing, our auditing firm will take care of the whole process.

We provide training to your staff, department heads and other key people including senior management for effective VAT implementation and post VAT monitoring of your organization.

VAT Accounting: VAT can affect a business profitability, pricing and working capital. We assess the effect of vat on your business and suggest effective methods of cash flow management. It is mandated for a business to keep financial records of the past five years for the benefit of government auditing. We provide VAT accounting which includes:

  • Calculation of input and output vat

  • All tax invoices

  • All imports records

  • All exports records

  • Zero-rated tax supplies records

  • Exempted tax supplies records

  • Book of account maintenance

  • Credit and debit notes

  • Vat return filings

And other documents as and when required. We help you maintain all these records without any data misinterpretation and also offer you data analysis, calculations and reporting of returns.

VAT Return Filings: it is an obligation for organizations to submit VAT return filings before the deadlines of each tax period. VAT return filings document the VAT liability, that is the difference between output tax and input tax paid to the government. The tax period is different depending on the type of company and also industry. We help you file tax returns in a timely manner according to the VAT laws of federal tax reserve authority of Dubai so as to avert the possibility of a penalty from the government.

VAT Compliance: Compliance includes accurate documentation of all financial records, employee records and other records of the company according to the government laws. We make sure your company is following all the rules and regulations provided by the government to avoid any repercussions.

Strategic Inputs: VAT will not only affect the finance and accounting departments of a business but also management, operations, sales, and marketing. Mishandling of VAT accounts can lead to losses to a business. Whether a small scale or a large corporation will need strategies to upkeep their profitability and smooth running of the business in a post VAT era. After analyzing your business, we provide you with core strategies and development plans to ensure you gain the most.

Apart from the services mentioned above we also offer:

• VAT compliant software for your company
• Communication to all your business partners in a relevant method
• Data recording and management
• Vat filings and payments
• Vat bookkeeping assistance
• Identify intercompany transactions
• Monitor any fraudulent activities in financial data

Our VAT consultancy reports will be made after a thorough understanding, analysis and data collection of your company. Give us a call to set up your consultation now.