Hiring VAT Consultancy Services in UAE is Beneficial

The Value added Tax (VAT), that came into effect in UAE on January 1, 2018 is not a complex tax to understand but definitely difficult to manage. Therefore, you need to hire a VAT consultancy service in Dubai, so that all VAT related issues are dealt with perfection. The VAT is a business tax levied by the Government on the service and sale of goods. The experienced VAT consultants help companies to manage VAT operation hassle free. Implementation of VAT includes VAT registration, VAT implementation, VAT audit, VAT accounting, VAT filing besides managing the post-VAT filing operations. If you’re not an expert, you may invite troubles as default or delay in VAT submission may invite heavy penalty. Hiring a VAT consultant for VAT filing and compliance comes with multiple benefits. Below are the few of them.

Help in VAT registration

Not all businesses need to register and pay VAT but if your business is VAT eligible, you require to get it registered with the Government. A VAT consultancy helps you getting your business registered without any trouble. They will arrange all the necessary documents and get it registered. And the work is not over with the registration. Once your company gets registered, the experts will help you implementing VAT. Vat implementation involves different phases including structuring transactional flow, setting up an operating model for the procedure, aligning the business practices with the VAT regulations, suggesting the proper software, and complete assistance in the after-registration procedures.

Managing VAT accounting operations

VAT is a transaction based system and needs accurate record of the revenue generation, cost, input and output VAT and other statistical data. The consultant will suggest  good accounting system with proper control and verification of each transaction. This helps you identifying impact of VAT on every transaction. An experienced professional maintains accurate accounts book, complying all the VAT laws and regulations. The experts keep your accounts updated including the details of rate and taxable amount of VAT on the merchandise. . The professionals keep the original copies of the received invoices to support the claim. They also help you reclaiming any extra tax that you paid during your transactions earlier.            

Experts help you in minimum tax liability

The expert calculates the amount of VAT return on the basis of the basic principles. The VAT you pay on different goods should roughly balance that you collect from the customers. Experts know the legal remedies to collect the extra paid VAT. The VAT experts have years of experience and they find appropriate legal remedies for the VAT recovery opportunities. The professionals have high-end expertise that help in recording, filing and reporting of VAT. They ensure that you pay only the minimum amount as VAT, complying all the regulations. They prevent you from violating any VAT related law or regulation.   

Who we are?

An experienced VAT firm offers you the complete service. It stands hand-in-hand during every VAT compliance. VAT Accounting is a leading company in UAE, working in this field since past many years. We also offer accounting and auditing services, CFO services besides VAT services to many multinational companies, medium and small business houses and individuals in UAE. We have experienced, professional auditors, who work nothing short of perfection.

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