VAT Audit & Filing Consultants in Dubai
telephone +971 424 422 79 +971 424 422 79
Dubai 35° / 33° 00:00:00 1 USD = 3.67 AED

What is VAT

Audit & VAT, Value Added Tax (or VAT) is an indirect tax. Occasionally you might also see it referred to as a type of general consumption tax. In a country, which has a VAT, it is imposed on most supplies of goods and services that are bought and sold. VAT is one of the most common types of consumption tax found around the world. Over 150 countries have implemented VAT (or its equivalent, Goods and Services Tax), including all 29 European Union (EU) members, Canada, New Zealand, Australia, Singapore and Malaysia.

 

VAT in UAE

Audit & VAT has been implemented in UAE effective 1st of January 2018. Businesses will be responsible for carefully documenting their business income and costs and associated VAT charges. Registered businesses and traders will charge VAT to all their customers at the prevailing rate and incur VAT on goods/services that they buy from suppliers. The difference between these sums is reclaimed or paid to the government.

Freezoner VAT Services

Understand Your business
and VAT implementation

Our TAX/VAT experts shall visit your office to understand the business model and maintenance of accounts for designing a VAT Implement plan which suits for the UAE VAT Regulations for your type of business

Invoicing under VAT

The requirements of VAT invoicing under the UAE VAT Law will be implemented. Proper guidance will be given to the IT persons and proper training to the Accounts and other departments connected to sales. We shall advise you regarding formatting the invoices as per VAT guidelines.

VAT Return

We offer support for preparing and filing of the VAT return by taking the correct input tax credit against the total VAT liability with guidance on planning/better timing of cash flows and within the period allowed for submission of returns as per law.

Accounting systems
under VAT

We review the current accounting systems followed in the company. Proper classification and grouping with appropriate chart of accounts suitable for VAT regime will be suggested.

VAT Registration

To comply with the UAE VAT Law, we shall advise you regarding the procedural formalities, quantum of turnover which attracts VAT, and the date by which registration has to be made, considering whether the company got any exemption in this respect or not. We shall also advise you regarding the compulsory and voluntary VAT registrations and importance of maintaining proper day to day accounts.

Freezoner Book Keeping & Audits Services

We recognize that having access to timely and accurate financial information is crucial for clients to maintain a competitive edge in today’s dynamic business environment. Submission of annual financial statements and subsequent preparation of audit report constitutes a compulsory requirement for almost all types of companies in UAE. Preparation of financial statements before filing balance sheet requires knowledge and experience and qualified accountants who prepare statements of the company in accordance with all relevant requirements.

Company Book keeping

Basic bookkeeping and maintaining company financial records.
Preparation of full set of accounts on monthly, quarterly or yearly basis

Company Audits

Annual audit and filing audit report (Company’s renewal audits reports)

Tax residency certificate

Obtaining of tax residency certificate for Companies in the UAE from the Ministry of Finance.

Get in touch with Freezoner Team now!