vat consulting service

VAT - VALUE ADDED TAX

VAT is a tax on business transactions that potentially affects all purchases and sales. VAT has evolved as a trend that has set its footprint in almost all recent comprehensive tax reforms. VAT, as a rule, is calculated at every stage of the supply chain and on the import of goods and services.

VAT in UAE

The GCC VAT Agreement has now been signed by all six countries and we are seeing the GCC states taking positive steps towards the implementation of VAT. While VAT is not a cost on the business, but there could be certain implications of VAT on the businesses as a whole.

VAT CONSULTING

Gulfpro Accountants provides VAT Consulting services. Our team of senior qualified tax advisors, finance experts, and tax accountants will ensure you a timely and cost-effective VAT services. In addition to consulting services, we offer following Compliances:

VAT Registration

VAT Accounting

VAT Documentation

VAT Law Compliance

VAT Filing & Compliance

• Registering your company with the FTA (Federal Tax Authority)
• Preparing VAT calculations
• Managing your corporate accounts books
• Introduction of accounting software that can adopt VAT calculations
• Calculating net tax payable to local tax authorities
• Calculating VAT deductible on purchases
• Calculating output VAT on imports from member countries and non-member countries
• Calculating input VAT on export to member and non-member countries
• Calculating and claiming refunds for VAT for businesses that are resident and non-resident
• Keeping the correct documentation in relation to invoices, records, account, VAT returns, etc.
• Filing tax returns with local tax authorities
• Paying the net amount of VAT due within the prescribed deadlines
• Planning and structuring in order for cash flow management to be not affected
• Advising and developing on restructuring transactions and supply chain