Our Tax Experts provide proper assistance & guidance on compliance with the provisions of the UAE Tax Laws. They are equipped with local as well as international industry experience and advice the businesses through all the tax challenges and support them in achieving sustainable Tax strategy.
Our Value Added Tax (VAT)/ Excise Tax services include:
1. VAT Registration and Deregistration Sservices
VAT Registration is mandatory for companies and individuals doing businesses in the UAE, having an annual turnover of more than AED 375,000/-. All companies/individuals coming under the above threshold limit (subject to the provisions of the relevant law) have to register for VAT.
Registration for VAT in the UAE is an online process that is accessible in the Federal Tax Authority’s online portal. Before proceeding with VAT registration, the applicant should consider various aspects such as whether to register as a voluntary option or mandatory option, whether to register as a Tax Group or a Standalone, etc.
Following are the scenarios when a VAT Registered person should go for De-Registration.
1. If he stops making Taxable Supplies.
2. If the value of the Taxable Supplies made over a period of (12) consecutive months is less than the Voluntary Registration Threshold ie, AED 187,500/ and he does not anticipate that they’ll cross the Voluntary registration threshold during the coming 30-days.
Our team of professional experts ensures that you do not face any difficulty in registering or deregistering your business for VAT.
2. VAT Return Filing Services
VAT Returns Filing has to be done through the online portal of the Federal Tax Authority (FTA) available under e-services. The form used for VAT return filing is called Form VAT 201. A taxable person is responsible to submit a VAT return in the UAE in the prescribed format given by the FTA. Every taxable person is required to submit the VAT Return within 28 days from the end of each Tax period prescribed by the FTA. This must be in accordance with the provisions of the UAE VAT law. The taxable person is also liable to remit the amount of tax due to the FTA within the time frame specified by the UAE VAT Law; ie within 28 days from the end of each tax period.
Our Tax professionals can support you in the following areas:
a) We will visit your office on a periodical basis (weekly/monthly/Quarterly) to compile the information for filing the VAT Return. At the end of each VAT return period, we prepare the VAT return on behalf of your company in accordance with the provisions of UAE VAT law.
b) We ensure that the VAT returns are filed within the specified time in each tax period.
c) Proper guidance for the payment of Minimal Tax Liability as per the provisions of the UAE VAT Law will be advised.
d) Optimal Tax Planning for the company will be done.
3. VAT Implementation Services
At Accuvat we have qualified tax experts who can assist you in setting up the perfect VAT system for your business. Whether it’s a service industry or trading of goods, we have got your back and will guide you as well as implement the VAT system for you.
Following are the steps involved in VAT implementation services:
- Understanding of the business environment
- Training sessions
- Analysis of VAT impact on business
- VAT invoicing
- IT migration
- Filing of VAT return
4. VAT Consultancy Services
The UAE businesses are facing quite a number of challenges while implementing VAT in their business stream to ensure that they are VAT compliant. As VAT is a newly adopted concept in the region, it requires qualified and experienced Tax professionals’ advice to support the businesses. Accuvat provides experienced chartered accountants as their tax advisers. Tax Experts have relevant industry-specific experience in taxation complying with international standards.
Our VAT Consultancy Services cover:
1. Timely, precise & cost-effective support / VAT advisory services from the VAT Expert for the queries or issues confronted by the businesses.
2. VAT impact analysis.
3. Formulating solutions and preparing for recommendations designed to provide advice on taxation for clients.
4. VAT Consultant Service through meetings and discussions.
5. Advisory Service on call.
7. VAT Consultant service with a personal visit to the client's office.
8. Handling industry-specific issues with precise guidance to comply with the UAE VAT law.
9. Advisory Services with regard to Customs clearance as well as designated zone-related issues.