Perfect TAX figures
for better assets
The introduction of Value Added Tax (VAT) in UAE, a traditionally TAX-free jurisdiction, brings with it a lot of opportunities and an equal amount of challenges. It is one of the most complex and onerous tax systems that companies find difficult to cope with. A trained professional who can guide you on the Do’s and Don’ts of the system and who can act as a mediator between you and the Federal Tax Authority is more than mandatory.
They will help you through the various phases of VAT implementation in UAE and will also aid in achieving tax compliance, carrying out legal activities, managing records and preparing and filing VAT return. They are reliable and ethical; but you need to ensure that you appoint the right one.
GCC countries have decided to implement Value Added Tax in the entire region through a treaty signed by all member countries. UAE has already implemented the VAT laws and regulations with effect from January 1, 2018, along with Kingdom of Saudi Arabia. The practical applications of VAT are : If your annual turnover exceeds the mandatory threshold limit of AED 375,000, then you are liable to pay tax, Optional registration threshold limit is AED 187,500/- per year, where, any business person can voluntarily register for VAT and continue with the normal compliance process.
We will guide your Finance and Accounts team and update them with up-to-date progress concerning VAT. Additionally, our VAT consultants will assist your team in developing your internal VAT operations, involving finance management and bookkeeping operations, in tune with the VAT system requirements.
VAT IMPLEMENTATION & COMPUTATION MADE SIMPLE
NAS Chartered Accountants is equipped with a team of thriving VAT specialists who can help your business overcome expected roadblocks such as
lack of familiarity with VAT rules & regulations, structure and compliance issues, lack of resources (availability of experts and competent staff) and lack
of a robust book keeping system. Our special VAT consultancy services in UAE involves providing an understanding of the Tax Laws and Executive
Regulations, understanding your business model and evaluation of VAT’s impact on your business, providing inputs using VAT compliant software,
exclusive VAT bookkeeping assistance, helping you to prepare and execute all VAT related communication to your trade partners and providing
strategic inputs for conducting your business in the post-VAT age.