Excellent Accountants – Expert VAT Consultancy & Services in Dubai, UAE

• Expert VAT Knowledge: Consultants possess in-depth knowledge of UAE VAT laws and regulations, ensuring accurate and up-to-date guidance.
• Streamlined VAT Registration: They simplify the registration process, saving you time and minimizing errors.
• Accurate VAT Return Filing: Consultants ensure timely and accurate VAT return submissions, avoiding penalties and interest charges.
• Minimized VAT Compliance Risks: They identify potential compliance issues and provide proactive solutions.
• VAT Refund Assistance: They assist businesses in claiming VAT refunds for eligible expenses.
• Tax Dispute Resolution: They represent you in VAT disputes with the Federal Tax Authority (FTA).
• Peace of Mind: With an expert handling your VAT affairs, you can focus on core business activities.

• VAT Registration and De-registration: Assistance with determining registration eligibility, completing the process, and managing deregistration, if necessary.
• VAT Return Preparation and Filing: Preparation and timely submission of accurate VAT returns.
• VAT Audits and Reviews: Thorough assessments of your VAT records and procedures to identify potential areas for improvement.
• VAT Consultancy: Expert advice on the VAT implications of various business activities, including imports, exports, and internal supplies.
• VAT Training and Awareness: Workshops and training sessions to educate your staff on VAT laws, regulations, and best practices.

generally subject to Corporate Tax.

VAT consultant fees vary depending on the services required, the size and complexity of your business, and the consultant’s expertise. Some offer hourly rates, while others charge project-based fees. It’s recommended to request quotes from several consultants to compare options.

• What specific VAT services do you offer?
• What is your experience with businesses in my industry?
• What are your fees and payment structures?
• How will you communicate updates and progress on my VAT affairs?
• Do you have references I can contact?

A VAT consultant is a professional who specializes in advising businesses on Value Added Tax (VAT) matters to ensure compliance with tax regulations. They offer expert guidance on various aspects of VAT, including registration, filing returns, planning, and reporting. VAT consultants help businesses understand how VAT laws apply to their specific industry, assist in optimizing VAT processes, and ensure that all necessary documentation is accurate and up to date.

In the UAE, businesses are MANDATORILY required to register for VAT if their taxable supplies and imports exceed AED 375,000 per annum.

However, businesses with an annual turnover exceeding AED 187,500 but less than AED 375,000 can VOLUNTARILY register for VAT. This voluntary registration allows businesses to reclaim VAT on business-related purchases, even if they are not obligated to register.

VAT (Value Added Tax) in the UAE was introduced on January 1, 2018, at a rate of 5%. It applies to most goods and services, with specific exemptions and zero-rated categories. Businesses must register for VAT if their taxable supplies exceed AED 375,000 annually.

If your business’s annual taxable turnover exceeds AED 375,000, it is required to register for VAT and file VAT returns. If your business’s turnover is between AED 187,500 and AED 375,000, VAT registration is optional but can be beneficial.

Penalties are usually imposed for late VAT returns or payments, incorrect VAT filings, or failing to comply with VAT regulations. To avoid penalties, ensure timely filing of returns, accurate data submission, and prompt payment of any due VAT.

Yes, businesses can claim VAT on purchases from old invoices, provided that the invoices were issued within the last five years, and the business is registered for VAT.

Zero-rated supplies are goods and services that are taxable under VAT, but the VAT rate charged is 0%. Businesses making zero-rated supplies can still recover input tax on related expenses. Examples include:

• Exports of goods and services
• International transport of goods and passengers
• Certain means of transport (e.g., trains, trams, vessels, airplanes)
• First sale/rent of residential buildings
• Aircraft or vessels for rescue and assistance
• Certain healthcare and educational services and related goods

No, suppliers of zero-rated supplies do not charge VAT at the standard rate. They apply a VAT rate of 0%, meaning VAT is still taxable but no VAT is collected from the customer.

Yes, if your taxable turnover exceeds AED 375,000 over a 12-month period, or you expect it to exceed AED 375,000 in the next 30 days, you must register for VAT. However, if you only make zero-rated supplies and not any taxable supplies at the standard rate of 5%, you may apply for an exception from registration.

Yes, if you are registered for VAT, you must file VAT returns, even if you only make zero-rated supplies. You can also recover input tax incurred on business-related expenses, subject to normal conditions.

Exempt supplies are not taxable under VAT, meaning VAT is not charged, and businesses cannot recover VAT on purchases related to these supplies. Examples include:

• Financial services (e.g., life insurance, reinsurance)
• Residential buildings (e.g., renting properties for residential purposes)
• Bare land
• Local passenger transport

No, suppliers of exempt supplies do not charge VAT. These supplies are completely outside the scope of VAT, and businesses cannot reclaim VAT on related expenses.

If all the supplies you make are exempt, you do not need to register for VAT. Since no VAT is charged on exempt supplies, you also cannot recover VAT on any business purchases related to these supplies.

• Registering for VAT if taxable turnover exceeds the threshold
• Maintaining proper VAT records
• Filing accurate VAT returns
• Paying VAT dues on time
• Issuing valid VAT invoices and receipts

VAT registered businesses must keep comprehensive records of all supplies and imports, tax invoices, credit notes, and details of disposed goods. They must notify the FTA of any changes to their business details, including their address or status and failure to comply with registration and deregistration requirements could result in penalties. The FTA can conduct audits to ensure compliance, and may examine business records, and make copies or take samples of goods if required.

Generally, VAT is payable on imports of goods into the UAE. For goods imported by a VAT-registered person, the VAT is treated as input tax which can be recovered if they are being used to make taxable supplies. Certain goods, however, are relieved from import VAT, for example, under customs suspension or when exempt under the GCC Common Customs Law (such as goods for military forces, personal effects of travelers and return goods). Imports of goods from outside of the UAE to a UAE designated zone are not treated as imports, and therefore are not subject to import VAT