Sarah Ferguson Tax Consultancy In Dubai provides VAT and Tax services to help you meet your civic responsibilities while being with you every step of the way.
The Federal Tax Authority (FTA) has issued a publication to shed light on certain aspects of the VAT implementation.
Tax Consultants in Dubai - A good tax consultant will not only help you to avoid paying heavy taxes that can arise from wrong filing...
VAT is still something of a novelty to the business economy of UAE. Learn more about VAT penalties and ways to avoid them at Tax Consultancy Dubai.
External audits can be stressful if you don’t know how to prepare for them. Learn more on how to survive your external audit with Tax Consultancy Dubai.
Bookkeeping is a real challenge for all types of business. From recording the economic activities of the company to summarizing the business transactions in an orderly manner all in which aid the survival of the organizational.
All Businesses in UAE must be prepared for official and obligatory audits in 2019, as it has been one year since the VAT has been implemented in UAE. VAT auditing is conducted for all kinds of businesses to ensure the accuracy of accounting, bookkeeping, and filing of VAT returns.
In today’s competitive arena, a company needs to generate profitable results in order to be successful. Whether you’re running a small or a large business, it becomes essential to determine if the revenue earned by the company is more than the expenditure incurred by the entity or not. This is where the need for accounting firms in Dubai arises.
Value Added Tax is a recent
initiative step taken by the GCC countries. As a new implementation on the
businesses conducted in the UAE, the idea behind launching this was to bring
out a new source of revenue to the government. Before elaborating the process
of VAT return filing, let’s further explain the basics of VAT.
VAT (Value Added Tax) hasbeen implemented in the UAE in the year 2018. Right after its implementation, it has become crucial for the UAE businesses to prepare themselves towards this
new taxation system and be “VAT Ready” to avoid penalties related to VAT.
Filing a VAT return is a complex process. There are numerous intricacies and quirks that catch business owners out. As it is a daunting process, mistakes with VAT filing are all-too-common. It can be a huge headache for the businesses, as they have to fulfill additional payments as penalties/fines.
The introduction of Excise Duty & VAT happened almost the same time (i.e. 2017-18) in UAE. Both are a form of indirect taxation levied on selected goods & services for various purposes which leads to additional revenue for the government in UAE.
The financial vertical of any business is one of the most
complex areas. It involve aspects; Tax payments and deductions which requires a
clear understanding to help in running the business smoothly. An experience tax
consultant can help you handle the finances wisely.
The eminent arrival of VAT has bought a confusion of difference between commercial invoice & tax invoice for some professional tax consultancy services provider which actually is quiet strange. But not to worry, here’s a brief about variations in both commercial & tax invoices:
Are you looking for reliable vat consultants in Dubai? Look no further!
We have been providers of Accounts and Tax related services for nearly 15 years. Having offices in major locales of UK, we’ve successfully served a diverse range of business ventures; Start-Ups, Sole Traders, Limited Companies and Landlords.
An input tax is the amount paid by any personal on every purchases made or inward supplies. The major feature of VAT in UAE is recovery of tax paid on inputs where a person can reduce the amount of input tax likely for recovery from tax payable amount & pay the balance amount as tax.
The term “Zero-rated supplies” in UAE refers to any
taxable supply on which VAT is zero charged. Moreover taxation charged here is
based on the nature of supply, despite the goods or services stocked or
specified goods or services enlisted under zero rated list.
As
the countdown for “World’s Greatest Show” begun, Dubai government has
initiated several measures for providing the best of facilities to people
visiting here from across the globe. In continuation, FTA (Federal Tax
Authority) has rolled out notifications about conditions and procedures for
grant of VAT refund to business officials in UAE for facilitating suitable
foreign business visitors/ businesses to file VAT refund claims for expenses
incurred in UAE. Here’s an overview of key points from the scheme
The TRN (Tax Registration Number) is a special number for individuals who are registered for value-added tax (VAT) in the UAE by the Federal Tax Authority. The implementation of VAT was an addition in the UAE taxation law implemented on 1st January 2018. Like explained in our previous posts the law required companies to be registered for charging VAT to their customers.
Sarah Ferguson Tax Consultancy In Dubai provides VAT and Tax services to help you meet your civic responsibilities while being with you every step of the way. Our Tax Consultancy team also offers a...
