Slide 7
VAT Consultancy Services in UAE

Elevate your business and ensure full adherence to VAT regulations with our exceptional VAT Consultancy Services

Slide 7
VAT Consultancy Services in UAE

Elevate your business profits and ensure full adherence to VAT regulations in any major UAE city with our exceptional VAT services

VAT Consultancy Services in UAE

The United Arab Emirates (UAE) ushered in a new era on January 1st, 2018, becoming the first country in the Gulf Cooperation Council (GCC) to introduce Value Added Tax (VAT). This indirect consumption tax, levied on the value added to most goods and services at each stage of the supply chain, marked a significant shift in the country’s economic landscape. VAT’s introduction aimed to diversify the economy, reduce reliance on oil revenues, and create a new revenue stream to enhance public services and infrastructure.

Who Needs VAT Compliance?

The UAE VAT system mandates VAT registration for businesses with an annual turnover exceeding AED 375,000. Those with an annual turnover between AED 187,500 and AED 375,000 can voluntarily register. Businesses below the voluntary threshold of AED 187,500 are exempt from registration.

Once registered, businesses must charge VAT at the standard 5% rate on taxable supplies, which include goods or services sold or provided within the UAE, imports into the UAE, and supplies to customers outside the UAE. These businesses can also claim back VAT on their allowable expenses.

The Importance of VAT Tax Compliance

VAT compliance is paramount and necessitates meticulous record-keeping, including VAT invoices and credit notes. VAT-registered businesses must file VAT returns quarterly and settle any outstanding VAT payments owed to the Federal Tax Authority (FTA) within 28 days of the tax period’s close. Non-compliance can lead to substantial fines and penalties, with businesses facing fines of up to AED 20,000 for failure to register or late VAT return submissions.

It’s important to note that consumers are also responsible for paying VAT on taxable goods and services. However, certain goods and services, such as healthcare, education, and specific financial services, are exempt from VAT.

VAT Consultancy Services

Elevate your business profits and ensure full adherence to VAT regulations in any major UAE city with our exceptional VAT services:

VAT Audit Liaison with FTA

Navigating VAT audits becomes seamless with our team. We act as your liaison with the Federal Tax Authority (FTA), ensuring a smooth and transparent audit process while addressing any queries or concerns

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VAT Refund Assistance

Unlock the potential for VAT refunds with our dedicated support. Our experts guide you through the intricate process, ensuring a smooth and efficient application for VAT refunds in the UAE.

VAT Registration

Ease the complexities of VAT registration with our assistance. Our consultants guide you through the registration process, ensuring accuracy and compliance with the requirements set by the UAE tax authorities.

VAT Reconsideration Requests for Penalty Waiver

In cases of penalties, rely on our experts to submit reconsideration requests. We leverage our understanding of regulations to advocate for penalty waivers, safeguarding your business interests.

VAT Compliance Audit

Our meticulous VAT compliance audits guarantee that your business operations align with regulatory standards. Trust our thorough examination to identify and rectify any compliance gaps, providing assurance and peace of mind.

VAT General Consultancy

Tailored to your unique business needs, our VAT consultancy services offer comprehensive insights. Whether you are navigating new regulations or optimizing existing processes, count on our expertise for strategic advice.

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VAT Return Review and Submission Assistance

Our support extends to the final step of the VAT cycle. We review and assist in the submission of VAT returns, ensuring accuracy and compliance, so you can focus on your core business activities with confidence.

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VAT Refunds Obtaining Private Clarifications with FTA

For nuanced matters, we facilitate private clarifications with the FTA. Trust our team to navigate intricate scenarios, seeking clarity directly from the authorities to ensure your business decisions align with regulations.

VAT Deregistration

When business circumstances change, our team facilitates seamless VAT deregistration. We navigate the bureaucratic requirements, ensuring a hassle-free process and compliance with all necessary regulations.

Unlock the benefits of expert VAT consultancy services in UAE with our comprehensive solutions. Contact us today to streamline your VAT compliance journey and optimize your business's financial performance.

VAT REGISTRATION

In the UAE, the VAT voluntary registration threshold is AED 187,500 per annum.

If a business’s taxable turnover exceeds AED 375,000 per annum, it is mandatory for them to register for VAT and start collecting VAT from its customers on behalf of the government.

After registering for VAT, businesses are required to file VAT returns on a regular basis (usually quarterly), which report the amount of VAT they have charged their customers and the amount of VAT they have paid to their suppliers. The VAT return must also include details about the business’s total sales, purchases, and expenses for the period.

Compliance with VAT regulations is crucial for businesses as VAT returns must be filed on time (within 28 days after the end of the tax period) to avoid penalties and fines. Any errors in VAT returns or failure to file them can also result in penalties and fines. Accurate record-keeping is necessary to ensure compliance with VAT regulations.

Our expert VAT specialist provide valuable assistance to with VAT registration by guiding them through the process, helping with the preparation and submission of the VAT registration application, ensuring compliance with all relevant VAT regulations, reviewing financial records to avoid any potential discrepancies, and providing ongoing support to help the client remain compliant with VAT regulations and laws in order to avoid any potential penalties or fines resulting from non-compliance, and ensure a smooth and efficient registration process.

VAT DEREGISTRATION

When UAE businesses or individuals who are VAT registered decide to liquidate their company or they no longer will meet the VAT registration threshold, it is necessary for them to apply for VAT deregistration.

To apply for VAT deregistration, businesses must provide evidence to the tax authorities that their taxable turnover has fallen below the VAT registration threshold, or that they have ceased trading or closed their business. If the application is approved, the tax authorities will cancel the business’s VAT registration and issue a deregistration certificate.

It is important for businesses to note that they must continue to file VAT returns and pay any outstanding VAT until the effective date of their deregistration. Failure to do so may result in penalties and fines. Additionally, businesses must maintain their VAT records for a period of seven years from the date of deregistration.

It is also worth noting that if a business deregisters from VAT voluntarily, it may not be able to register again for a certain period of time, usually 12 months. Therefore, businesses should carefully consider the implications of VAT deregistration before applying.

Our team of VAT experts provide comprehensive support throughout the VAT deregistration process, ensuring compliance with all relevant laws and regulations. Our goal is to make the process as stress-free as possible for our clients.

VAT ADVISORY

Our expert VAT Specialists’ top priority is to ensure that our clients have a clear understanding of how tax laws affect them. Despite the years of VAT compliance, it remains a recurring challenge for many businesses. Our team of VAT experts comprises knowledgeable professionals who are passionate about educating clients and their finance teams. They work diligently to safeguard their clients against financial losses resulting from non-compliance.

REVIEW & FILING

As a VAT registered entity, you will be responsible for the compliance of VAT return submissions, either quarterly or monthly as well as maintaining the financial books and additional VAT return supporting documents. 

Our VAT Experts know how to properly calculate VAT returns and have a keen understanding of the laws and regulations.  This ensures compliance and reduces your exposure to tax risks including levied fines and penalties. A VAT return is a compulsory report that businesses and individuals who are registered for VAT need to submit to the tax authority. This VAT return is a compulsory summary of their taxable transactions for a specific period, which includes the amount of VAT charged to their customers and the VAT paid on their purchases. It also covers the business’s total sales, purchases, and expenses for that period. Not submitting the VAT return on time or providing incorrect information may lead to penalties or fines. Our team of highly-knowledgeable VAT experts provide accurate and timely VAT returns and filing, along with to help ensure compliance with VAT regulations and laws.

REFUNDS

VAT refunds are available for certain registered entities who pay VAT on business expenses and purchases related to taxable supplies. However, not all expenses and purchases are eligible.

Our VAT Experts can help you determine if you qualify for a VAT refund and guide you through the filing process to ensure compliance with all requirements and regulations.

VAT HEALTH CHECK

A VAT health check ensures your business is in compliance with all VAT laws and regulations.  During the service, our skilful VAT experts review your company’s VAT systems, such as record-keeping and invoicing, to identify any areas where the company may be at risk of non-compliance.  

This service is especially useful for companies that have recently registered for VAT or are unsure about their current compliance status. By getting a VAT health check, companies can avoid costly penalties and fines and make sure they are following all FTA laws and regulations. 

Our VAT experts provide actionable advice to improve compliance and avoid potential risks.

VAT PRE-AUDIT

Our VAT Pre-Audit service is a more in-depth analysis of your companies VAT compliance.  Our experienced VAT experts will skillfully analyze each area your company may be exposed to tax risks, including input/ output ledges, maintenance of records, and transactions and invoices.

VOLUNTARY DISCLOSURE

If you filed your previous VAT return and have found discrepancies, you have the opportunity to notify the FTA before they notify you by way of a tax audit or tax assessment.  All though there may be penalties associated with filing a Voluntary Disclosure of errors or omissions on your companies behalf, you will benefit from a reduction imposed fines and penalties. 

Our VAT experts thoroughly review your previously filed VAT returns and Input and Output ledgers, and objectively advise you in the best course of action for your business.   

Calculating taxes and filing tax returns are some of the most complicated aspects of having your own business and hiring a consultancy to safeguard your company has proven to be a necessity. 

TAX RECONSIDERATION

As a VAT registered entity, you will be responsible for the compliance of VAT return submissions, either quarterly or monthly as well as maintaining the financial books and additional VAT return supporting documents.

Unfortunately, to date, businesses are still suffering from levied fines and penalties from filing errors, late payments and other non-compliant judgments.

Our VAT Experts know how to properly calculate VAT returns and have a keen understanding of the laws and regulations.  This ensures compliance and reduces your exposure to tax risks including levied fines and penalties.   

TAX AGENT & TDRC

TAX AGENT

A registered Tax Agent is a highly qualified professional that takes full responsibility of your company’s tax obligations while representing your business with the FTA. 

By hiring our competent Tax Agents, you will significantly decrease the stress of FTA Audits and obligatory tax affairs so you can refocus your time and energy on other aspects of your business. 

TDRC

If your dispute for reconsideration has been rejected by the FTA, you may be eligible to raise your dispute with the Tax Dispute Resolution Committee (TDRC). 

Specific criteria must be met before approaching TDRC and tax payers should NOT directly approach the TDRC.

Our registered Tax Agents have the knowledge and experience required to act like a liaison between your business and the FTA and successfully represent our clients through each complicated step of their tax obligations.

Our Valued Clients at a Glance

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