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VAT Consultancy

VAT advisors in Dubai, United Arab Emirates

Top Focus Bookkeeping and Accounting is a well-known VAT consultant in Dubai. With our experience and in-depth knowledge in VAT registration and VAT filing, we have created an amount of goodwill for our clients.

We have an excellent track record of resolving complicated VAT related issues in the past. Since the introduction of VAT from January 1, 2018, businesses have been seeking the services of the best VAT consultants in Dubai, who are registered with the UAE Federal Tax Authority (FTA) as a tax agency and fiscal agent. dedicated. Proper or structured implementation of VAT has become an obligation and VAT consultancy has become an absolute necessity to comply with UAE VAT Laws.

How can VAT advisors in Dubai help businesses with VAT advisory and compliance services?

Since the introduction of VAT in Dubai from January 1, 2018, VAT consultants have been helping businesses comply with VAT rules in the UAE. VAT consultants help business owners with efficient tax planning that will help entrepreneurs control tax outflow and manage working capital. VAT consultants in Dubai can guide companies primarily through VAT Advice services and VAT Compliance services.

Main duties of a VAT advisor in Dubai

  • Ensure VAT return filing and reconciliation are done on time
  • Review of VAT records, returns and reconciliation
  • Provide advice on client clarifications on TLC notifications
  • Representation before the FTA in tax matters
  • Review and customization of source documents The VAT Advisory Services are:

The VAT Advisory Services are:

  • VAT planning in the UAE
  • VAT advisory services
  • Recommend whether to register VAT as a single entity or as a tax group
  • Applicability of the reverse charge mechanism for imports
  • Training and awareness of VAT for staff

VAT Law

VAT is levied on the consumption or use of goods and services and the final consumer is the ultimate bearer of the cost. The United Arab Emirates imposes VAT on tax registered businesses at a rate of 5% on a supply of taxable goods or services at each step of the supply chain. However, companies collect and account for VAT on behalf of the government. Business owners in the UAE are required to register their businesses under VAT in accordance with Federal Decree Law No. 8 of 2017 on VAT and Cabinet Decision (52) of 2017 on the executive regulations of Federal Decree Law No. ( 8) of 2017 on VAT. VAT is applied equally to tax-registered companies operated in the mainland UAE and free zones.

VAT registration in Dubai

It is mandatory for businesses with dutiable supplies and imports worth AED 375,000 (USD 1,000) and above to apply for VAT registration. Under the UAE VAT law, businesses with supplies and imports taxable between AED 187,500 and AED 375,000 can submit a voluntary application for VAT registration. However, those companies whose taxable supplies and imports are below AED 187,500 are not required to apply for VAT registration. The VAT registration application can be done online, but companies can seek the services of efficient VAT consultancies in the UAE for the proper execution of the process. Furthermore, it should be noted that all names, whether they are companies, owners, managers or authorized persons, must also be entered in the proper Arabic language along with English.

Documents required for VAT registration in the UAE

The documents required to apply for VAT registration in the UAE include:

  • Copy of business license
  • Copy of the passport of the owner of the business and partners
  • Copy of the identity document of the Emirates of the owner and the partners
  • Company Memorandum of Association (MOA) and Articles of Association (AOA)
  • Contact details and company address
  • Bank account details
  • The monthly income statement for 2017 to date according to FTA format
  • Nature of the business and activities carried out
  • Billing expected in the next 30 days
  • Customs registration details (if applicable)
  • Authorized signatories Identity documents, passport and authorization of the Emirates

Once all documents are submitted, the FTA will review the application. If all requirements are met, the application will be approved by FTA and a Tax Registration Number (TRN) will be issued within 2-3 weeks. the process