VAT Registration: VAT registration is mandatory for businesses with an annual taxable turnover of AED 375,000.  Businesses that generate 50% of this threshold annually can voluntarily register for VAT. We can assist you getting your business registered for VAT. We can guide you about documents required for VAT registration.

VAT Return filing– VAT return is due to file before 28th of the month as per monthly or quarterly as mentioned on the tax registration certificate issued by FTA. We can assist you in submission of VAT return on time and verify your data with the financial statement.  We can review of output tax documents on a sample basis and evaluating their conformity with the VAT legislation. Review of sample procurement documents and tax invoices from the availability of input tax credit perspective.

VAT impact assessment – Assessment of VAT impact on your business. Assisting you and review and validation of the tax positions adopted by the respective entity/individual for each cluster of transactions to ensure accuracy in tax treatment, such as output supplies, imports, input tax recoverability or identify the gaps in the process flows. Assessment of VAT implementation report, transaction mappings, internal policies, and procedures with respect to VAT and in the absence of such policies, provide assistance to prepare the same. Advising in relation to any improvement or change in processes, if any, from VAT perspective.

VAT compliance-  Timely preparation and submission of required information and documents as asked by FTA. Assisting you in reply of queries raised by FTA during Tax Audit. Complying with the recent public clarifications, guides and other materials issued by the FTA on the operations of the respective entity. Identification of actual and potential non-compliance with VAT laws and their remedial measures.

VAT Documentation– Review on sample basis of documentation being maintained by the company under VAT Law such as output invoices, commercial invoices, credit notes, contracts, export documents, import documents, etc. Assistance and analyze the emirate-wise reporting undertaken by the respective entity. Guidance of VAT treatment and documentation for specific transactions such as transportation services, intercompany transactions and input tax credit eligibility etc.

VAT Automation– Review of ERP system to understand the transaction flow, tax codes used, and output reports generated and provide necessary recommendations in the IT Systems. Assisting about system transactions on a sample basis and assess the capacity of the system to generate information with compliance with VAT

We wish to invest in our relationship with you and demonstrate the difference we can make. We are therefore proposing an experienced Tax Partner with global expertise in VAT together with an experienced Manager.