VAT COMPLIANCE

Value-added tax was introduced in the UAE on Jan. 1, 2018 as the first tax levied on a federal level, administered by the Federal Tax Authority. The UAE consists of seven emirates—Abu Dhabi, Ajman, Dubai, Fujairah, Ras Al Khaimah, Sharjah and Umm Al Quwain. To distribute the VAT collected between the federal government and the emirates, separate reporting requirements were adopted.

With the introduction of VAT in the UAE, VAT registered persons are required to report taxable supplies (this includes supplies subject to VAT at the standard rate, currently at 5%) in the emirate in which the fixed establishment related to a supply is located, in the case of resident taxpayers, or in the emirate in which the supply is received, in the case of nonresident taxpayers

Our mission is to help businesses conduct their operations in a seamless manner by providing superlative services in Financial Consulting, Tax Consulting, Management Consulting and other Consulting Services.

VAT registration – completion of the required documentation to register (or de-register)your business, company, partnership or group for VAT. Completion of VAT returns – completion of monthly or quarterly VAT returns (based oninformation provided by you) and submission of those VAT returns to HM Revenue & Customs/ Isle of Man Customs & Excise. Completion of other documentary requirements – completion and submission of any other documentation required by HM Revenue & Customs/ Isle of Man Customs & Excise such as the land and property questionnaire, option to tax, transfer of a going concern and voluntary disclosure.

Dealing with routine enquiries – responding to routine enquiries raised by HM Revenue & Customs or Isle of Man Customs & Excise.

VAT inspections – we can assist in handling VAT inspections performed by HM Revenue & Customs/ Isle of Man Customs & Excise.

VAT audit - we can perform a VAT audit on your business if you require assurance or are expecting a visit from HMRC or Customs and Excise.