VAT compliance can be overwhelming — especially for small business owners navigating new rules and frequent changes. That’s where we step in.
Impact of VAT on Consumers in the UAE. Even though the rate of VAT is as low as 5 percent, the cost of living is going to increase, which will have an adverse effect on the purchasing power of consumers. VAT will provide the UAE with a new source of income, but middle-class people will have to hold their budget tight.
Voluntary VAT Registration in UAE Here, the registrations are not mandatory, it is optional for business to decide whether they would want to register. As a result, the inclusion of taxable expenses as criteria for voluntary registration would enable all the start-up business to register with zero turnovers.
A value-added tax (VAT) is a consumption tax placed on a product whenever a value is added at each stage of the supply chain, from production to the point of sale. The amount of VAT that the user pays is on the cost of the product, less any of the costs of materials used in the product that has already been taxed.
Get your books completed. Even if you don’t have recorded anything from scratch. We will take the records out from the ‘shoebox’ and return you in the shape of financial statements. We can also guide and train you on how to prepare the books going forward.
Accounting for VAT is different. Your books of accounts have to be complied by recording each sales and purchase transaction based on the guidelines provided in the law. We provide assurance in achieving this objective by adjusting the books or guiding our clients on how to record transactions and adjust the books.
We offer services for filing the periodical VAT returns in a timely and accurate manner. Our staff scrutinizes the information carefully based on which the VAT returns will be filed. We put due diligence in scanning, screening, recalculating, entering and preparing the returns to ensure its acceptability by the Govt.
The clock is ticking!! The deadline is approaching fast. Remember, a business will not be able to claim the VAT paid on purchases if the business is not registered for VAT. For most the businesses the registration is mandatory. Avoid high penalties, contact us immediately to get registered.
We keep all the financial and VAT related records chronologically on behalf of our clients to comply with the laws. Each client’s folder is shared with the client through the cloud, so the clients can access the records anytime for a period of 5 to 10 years.
We provide assurance for the best and the lowest rates based on the complexity and the volume of the business transactions. Contact us to get a quote.
We handle the paperwork and the details — so you stay focused on growing your business.
