Value Added Tax VAT
Welcome to our top-notch VAT services in the UAE, where we help businesses navigate the intricacies of Value Added Tax (VAT) with ease and efficiency. The implementation of VAT in the UAE has significantly impacted how businesses manage their finances and comply with tax regulations. As a leading provider of VAT services, we understand the challenges that businesses face in this evolving tax landscape. Our team of VAT experts is equipped with the latest knowledge and expertise to assist you in understanding VAT requirements, preparing accurate VAT returns, and ensuring compliance with the UAE tax laws. With our comprehensive VAT solutions, you can focus on your core business operations, while we handle your VAT matters seamlessly and help you stay compliant in this dynamic marketplace. Let us be your trusted partner in VAT services and support you in driving financial success for your business in the UAE.
Value Added Tax or VAT is one of the most common types of consumption tax found around the world. Over 150 countries have implemented VAT. It includes the European Union (EU), UK, Canada, New Zealand, Australia, Singapore, Malaysia, India, USA, and a host of countries. The implementation of VAT has caused a paradigm shift in the business dynamics of United Arab Emirates as well as across the region.
VAT Impact on Business
All businesses have to carefully record their business income, costs, assets, liabilities and associated VAT charges irrespective of the size of the operations.
Registered businesses and traders will charge VAT at the prevailing rate on all of their sale of goods and services (output tax) and incur VAT on goods/services that they buy from suppliers (input tax). The difference between these sums is considered as refundable tax or VAT payable to the government.
The VAT reporting is done on a regular basis through filing of VAT returns monthly, quarterly, annually or for any other period that has been confirmed by FTA in VAT registration certificate of the business.
Indirect Tax: Value Added Tax (VAT) is an indirect tax. It is a type of general consumption tax that is collected based on the value added at each stage of production or distribution/sales. It is usually implemented as a destination-based tax. It is also known as goods and services tax (GST) in some countries.
VAT registered businesses must report the amount of VAT they have charged and the amount of VAT they have paid on purchases and expenses to Federal Tax Authority (FTA).
How Abstract can help you?
Abstract Auditing and Accounting is an end-to-end accounting and audit services company and is a registered Tax Agent from Federal Tax Agency, UAE, based in Dubai. We offer VAT Agency & Audit services all over Emirates . We provide a comprehensive portfolio of services in everything related to Value Added Tax (VAT) from Tax Advisory Services, VAT Implementation Services, VAT Return Filing, VAT Compliance Review, TAX Consultancy Services and Tax Agent Services apart from Tax Audit Service.
Apart from the mandatory Value Added Tax (VAT), we also specialize in a spectrum of services which includes Accounting, Auditing, Economic Substance Regulations (ESR), Mergers and Acquisitions (M&A), Company Formation and Liquidation, Country by Country Reporting (CbC), Business Advisory Services and other business services. Our magnitude of experience, competence and reputation makes us a distinctive world-class accounting service provider. For more Information please click here…