VAT
VAT Consulting Service in UAE
We provide guidance related to the VAT laws and complete VAT consultancy services
VAT in UAE
VAT or Value Added Tax is a tax imposed on the purchase or sale of taxable goods and services. The tax rate VAT in UAE is 5%. Business firms or organizations are obliged to collect taxes for the government. Every organization should register for VAT in the UAE under the Emirates VAT law. In the UAE, there are two types of VAT registration processes; mandatory and voluntary registration. The threshold for mandatory registration is AED 375,000 and for voluntary registration is AED 187,500. Business firms can register for VAT through the website of the Federal Tax Authority.
VAT registration is just the beginning of other VAT-related services that have to be followed by any business firm in Dubai. Consulting a VAT service provider or getting advice from a professional VAT Consultant is preferably the best way to fulfil all these VAT-related procedures without errors and delay.
VAT Consultancy Services in UAE
The businesses in UAE were introduced by FTA to the VAT law on 1st January 2018. Understanding the responsibilities as a taxpayer and understanding the effect of VAT law in the existing contracts of the company, their pricing, sales, marketing, overhead costs etc. is really an important feature of running a successful business firm.
It may seem to be a complicated task but with the help of efficient VAT Consultants in Dubai and by adopting better strategies to face the tax-related requirements, VAT will no longer be a hurdle in the way to your sustainable business growth.
Major VAT Consultancy Services in UAE
VAT consultants In Dubai services are different according to the business and its nature. Below are some common VAT consultancy services;
- VAT Filing, Compliances and Documentation
The VAT consultancy will conduct reviews of VAT returns while providing assistance associated with the VAT reporting. It will be helpful to find out and analyse the compliance gaps. Our VAT consultants in Dubai will assist to meet the document filing requirements in timely and efficient manner.
- VAT and Tax Advisory
Guidance and assistance in VAT registration in UAE. VAT deregistration and other VAT-related procedures will be provided by our experienced consultants. Clients can approach MAATS for any clarifications regarding VAT and its compliances.
- VAT litigations and Reconsideration Submission
The implementation of tax reconsideration submission option is to resolve the issues of firms that are dissatisfied with the FTA’s fines and judgments. If the taxable person’s petition for reconsideration is legitimate, the FTA is quick to adopt the taxable person’s disputes about the consequences and to change its prior judgment. The VAT Reconsideration submission is a request application filed to the FTA by a tax agent, coupled with sufficient reason to think that the fine or other conclusions should be amended. MAATS will help to file the VAT reconsideration forms on the website of the Federal Tax Authority and to deal with the Tax Disputes Resolution Committee following a rejection of a reconsideration request.
- VAT Refunds
Some of the businesses in UAE are eligible to receive the refunds from FTA. MAATS assist in VAT return filing and VAT refunding services for various business organisations.
- Impact Assessment
Analysing how transfer pricing requirements are applicable and implementing suitable methods
- Voluntary Disclosure Submission
A voluntary disclosure is a document given by the Federal Tax Authority (FTA) that allows companies and taxpayers to alert the agency of errors, omissions, or modifications in a tax return or refund. In the UAE, a VAT Voluntary Disclosure Form 211 assists a taxable person in correcting mistakes made when filing a VAT Return or requesting a VAT Refund. MAATS will represent you in navigating Tax Authority challenges
The Role of VAT Consultancy in Business
Keeping a proper book of records(bookkeeping) and accounting of an organisation, completing VAT filing requirements, ensuring VAT compliance with the rules of FTA etc. are some of the important functions of a VAT consultancy. Apart from performing these duties, they are functioning as a tax guide for the business entities. While focusing on the core goals, business firms cannot afford to spend much time on matters related to tax like the latest rules and regulations of VAT calculation and the process of the payment etc. But less care in this area can cause a huge financial loss in future. Complex tax calculations and procedures are easy if you hire a VAT consultant.
Let’s check some reasons why hiring a VAT consultant is always preferable;
- Accurate calculations
VAT consultants in Dubai take some extra effort and care to make everything accurate and error-free. The financial assessments and calculations require diligent evaluation. The help of a professional VAT consultant will be a blessing in situations like auditing, VAT filing etc.
- Identifying risks
An experienced VAT consultant is capable of identifying the risks and will suggest the best options available to reduce the potential risks related to VAT.
- Professional solutions
The experience in the field will help VAT consultants to avoid common mistakes in all VAT-related activities.
- Saves time:
It can save a huge amount of time you spend on dealing with VAT-related procedures.
- Advanced knowledge:
As they are equipped with in-depth knowledge of UAE VAT laws, they will be able to manage the tax procedures hassle-free and educate their clients about the current VAT rates and the right payment calculation.
MAATS As Your VAT Consultant in Dubai
An experienced tax consultant will help you to get a better awareness of the tax policies in your country.
As a reliable tax consultant in UAE, we provide you with accurate VAT accounting services that save you time and money. We help you to choose the voluntary or mandatory VAT schemes. Online and offline VAT consultancy services are available at MAATS to prepare and submit your financial records on time. Tailor-made solutions for the better management of tax infrastructure and to reduce the tax payments. We are here to help you with the completion of your tax payments and audited annual accounts. We provide tax advisory services for businesses in the UAE and help them plan the right financial steps in their business. We also provide the right strategies to avoid penalties and future interest on your tax return.
Our skilled and experienced VAT professionals help business firms to comply with VAT rules and obligations. We are providing time to time guidance and suggestions for our valued customers to deal with various aspects of VAT. Our team of finance experts, qualified tax advisors and experienced tax accountants are always there to clarify your doubts regarding VAT and to help you reduce your tax liability.
Frequently Asked Questions
Businesses that are registered for VAT or need to comply with VAT regulations, especially those who are new to VAT or have complex tax situations, benefit from VAT consulting.
VAT consultants offer services like VAT registration, VAT filing, tax planning, compliance reviews, VAT refund claims, and advising on VAT-related issues.
VAT registration in the UAE can be done through the Federal Tax Authority’s (FTA) online portal. VAT consultants can guide you through the registration process.
VAT consultants help ensure compliance with tax regulations, optimize VAT recovery, and avoid costly penalties. They also provide insights into VAT strategy and planning.
Most goods and services are subject to VAT in the UAE, but there are exemptions and zero-rated items, such as healthcare and educational services.
The standard VAT rate in the UAE is 5%, although some goods and services are exempt or zero-rated.
Zero-rated goods are taxed at 0%, such as exports and some medical supplies, while exempt goods like residential properties and financial services are not subject to VAT at all.
VAT returns in the UAE are typically filed quarterly or annually, depending on the size of the business and the registration category.
Yes, VAT refunds can be claimed by businesses on eligible purchases. Certain conditions must be met for refunds to be granted.
Yes, VAT can generally be reclaimed on business-related expenses, provided the expenses meet the criteria set by the FTA and are related to taxable activities.
VAT consultants guide businesses on how to handle VAT on imported and exported goods, including the applicable VAT rates and how to manage customs clearance.