In 2018, Value Added Tax (VAT) was put into action in the United Arab Emirates (UAE) and it plays a significant role in business in Dubai. Although VAT can be a source of revenue for the government, complex VAT compliance can make doing business difficult. This is where VAT consultants in Dubai come in.
These consultants possess the knowledge, competency, and experience necessary to help companies comply with, with the ultimate objective of providing more time and cost saving, the requirements of VAT.
How can VAT consultants in Dubai save businesses time and money?
- VAT registration: A VAT consultant based in Dubai can also provide companies with VAT enrolment support, so that companies are VAT compliant and can register as promptly and efficiently as possible.
- VAT compliance: VAT consultants can guide businesses to understand and comply with VAT, such as VAT calculation for taxable supplies, VAT invoice Tax payment, VAT return VAT payment, VAT record keeping, etc. This can prevent businesses from being fined and penalized for the violation of regulations.
- VAT planning and optimization: VAT consultancy in Dubai can offer corporations the means to most efficiently manage their VAT liability and cash. It may, for example, involve, but not limited to, determining the status of zero-rated and exempt products, the process of verifying input tax credit (ITC) claim, as well as to make the most of business set-up for VAT compliance.
- VAT record-keeping: The proper record keeping of the VAT registers is one of the most important conditions to fulfill with the Tax Ordinance. VAT advisors can help companies to establish a robust record-keeping system for handling all VAT-related transactions.
- VAT audits: If the VAT audit occurs, then a VAT consultant in Dubai will be in a position to act as representing the company to the tax authority. This can contribute to creating a continuous and effective audit process.
Alternative benefits of its VAT in Dubai conducted by Al Zora Accounting Advisory Services
At Al Zora Accounting Advisory Services we are a group of experienced, certified VAT consultants, living in Dubai. We are aware of the VAT regime in the UAE and provide counsel to companies of all sizes on how to navigate the VAT implications.
- Local Expertise: Our team has a deep understanding of UAE VAT regulations and extensive experience working with businesses in Dubai.
- Customized Solutions: We offer customized VAT solutions to meet the specific needs of your business.
- Proactive Approach: We are proactive in VAT compliance, keeping you up to date on any changes to the law that might apply to your business.
- Timely Communication: We are making every effort to stay constantly informed and updated about your VAT obligations.
- Cost-effective Solutions: Our service in VAT consultancy will be both efficient and clearly add value to your business (thereby offering high ROI).
In conclusion
VAT compliance is a time-consuming and labour-intensive process for businesses in Dubai. By working with a Registered VAT advisor in Dubai, companies can both save time and money, and be sure through the whole process that they are compliant with the VAT legislation.
Al Zora Accounting Advisory Services can assist your business in dealing with the intricacies of VAT in Dubai. Please get in touch with us now to discuss our VAT consultancy.
