SERVICES

VAT Consultancy

Top-of-the-line taxation services Dubai

Looking for qualified and experienced tax consultants in Dubai and UAE?

At Ethics Plus, we offer transparent and professional VAT advisory services.

1. Pre-Implementation Services

The UAE Government implemented Value Added Tax (VAT) with effect from January 1, 2018. However, all businesses may not yet be prepared to meet the requirements of the VAT Law. Hence, it is imperative that businesses get expert services from any of the top VAT consultants in the UAE to emerge VAT compliant.

As the topmost tax consultants in Dubai, our pre-implementation services include the following:

A) VAT Registration

  •  As part of taxation services Dubai, We provide assistance with the registration of business entities individually or as a group

B) Business Impact Analysis

  • Assessing the VAT readiness of the entity and implications of VAT on business transactions
  • Identifying gaps in the existing system
  • Mapping of transactions based on the VAT Law
  • Studying the impact on working capital

C) VAT Implementation & Transitional Support

  • Structuring transaction flows and helping to create an operating model
  • Assisting in aligning business practices with VAT regulations
  • Hand holding businesses through the initial phase
  • Selecting accounting software

2. Post Implementation Services

A) Transaction Advisory

  • Providing guidance for industry-specific transactions
  • Offering guidance for the treatment of international transactions & their VAT implications
  • Recommending the best business practices in the industry
  • Advising and developing transaction flows

B) VAT Compliance

  • Conducting a thorough VAT health check-up
  • Submitting of VAT returns
  • Guidance in preparing books of accounts and other accounting records as per VAT Laws

C) VAT Training

  • Organizing and providing training to the finance, sales, and management departments of different entities catering to specific industries. As professional Dubai Tax consultants, our training package covers the following key areas:
  • Applicability of VAT for the business, including discussing relevant provisions pertaining to the business
  • Recording of VAT-related transactions
  • Accounting for reverse charges
  • Preparation & submission of returns
  • Maintenance of accounting & other supporting documents

D) VAT Accounting

VAT is a transaction-based taxation system that requires the accurate recording of revenue, costs, output VAT, input VAT etc. A good accounting system with proper controls is the need of the hour. Our team comprising the best VAT consultants in Dubai and the UAE can help you establish controls and maintain your books of accounts in compliance with VAT Laws.

If you are looking for VAT consultants in Dubai or VAT consultants in the UAE to provide you with top-notch Tax implementation and advisory services, please get in touch with us today.

REQUEST CONSULTATION

    OUR CLIENTS
    Testimonials
    FAQ

    Businesses established in UAE must register for VAT if the value of their taxable products exceeds AED 375,000 over the 12-month period that has passed or is expected to exceed this sum in the 30 days to come. However, registration is not compulsory and can be done voluntarily if taxable products and imports are expected to exceed AED 187,500. And if the taxable services do not exceed AED 187,500, businesses are exempt from paying the tax. This new taxation law applies to all businesses in the UAE. This can prove complicated for businesses both big and small; hence, it is recommended that all businesses consult professional VAT consultants in Dubai and UAE in this regard.

    All businesses in the UAE need to record their financial transactions and ensure that their financial records are accurate and up to date. The top VAT consultants in UAE advise businesses that meet the minimum annual turnover requirement (as evidenced by their financial records) to register for VAT. Businesses that do not think they should be VAT-registered should maintain their financial records in any event, in case it is needed to establish whether they should be registered.

    Top Dubai VAT consultants state that all businesses need to do the following:

    • Must charge VAT on taxable goods or services they supply;
    • May reclaim any VAT they’ve paid on business-related goods or services;
    • Keep a range of business records which will allow the government to check that things are in order.
    • If you are a VAT-registered business, you must report the amount of VAT you’ve charged and the amount of VAT you’ve paid to the government on a regular basis. It will be a formal submission and it is likely that the reporting will be made online.

    If you’ve charged more VAT than you’ve paid, you have to pay the difference to the government. If you’ve paid more VAT than you’ve charged, you can reclaim the difference.

    If your business is based in the UAE, you should register for VAT when your taxable turnover exceeds AED 375,000. You should also register for VAT if you are based outside of the UAE, but make supplies of goods or services within the UAE that are subject to VAT. In this case, you would need to register for VAT using the VAT registration system. The registration process is simple and can be done online. After you have registered for VAT, you will be issued a VAT registration number, which you must use on all your invoices and other documentation relating to your supplies of goods or services.

    If you are not registered for VAT in the UAE, you will not be able to charge VAT on your supplies of goods or services. This could make your business less competitive, as businesses that are registered for VAT can claim back the VAT they have paid on their own purchases. In addition, if you are found to be making supplies of goods or services without being registered for VAT, you may be liable for a fine or other penalties.

    Some businesses are exempt from VAT, which means they do not have to charge VAT on their supplies of goods or services. These businesses include those that supply educational services, healthcare services, and certain types of financial services. In addition, businesses that make supplies of goods or services that are zero-rated (taxed at 0%) are also exempt from VAT.

    All businesses that make taxable supplies of goods or services in the UAE are obliged to register for VAT. This includes businesses that are based in the UAE as well as those that are based outside of the UAE but make supplies of goods or services within the UAE.

    You may find us at:

    Suite No. 108 & 109, Mezzanine floor, Al Diyafah Shopping Center, 2nd December Street, Al Bada’a, Dubai.