VAT Compliance Services In UAE

Vat Consultancy Services in UAE | Vat Registration Dubai

Vat Compliance Services in Dubai, UAE

Under VAT compliance service in UAE, you need to do some homework. Below are the essential points, you require to take note of. Registration: If your company meets the minimum turnover criteria, then you must get registered for VAT. All the companies registered under VAT would be offered a Unique Tax Payer Registration Number. If your company’s annual revenue is 3.7 million Dirham then it’s taxable, and registration is mandatory. VAT laws offer registration options for the companies having annual revenue between 1.87-3.75 million Dirham. They can get registered in the first phase or the second phase. The Government has not announced any threshold for the second phase.

Financial transaction details: Every company in the UAE needs to maintain proper financial records. The company management has the responsibility to ensure that the offered records are updated, trustworthy and importantly, accurate. These financial records are shreds of evidence, helping to identify, if the company meets the minimum annual criteria and whether the firm is required to be registered under VAT laws. Even if the company management thinks, it does not fall under VAT laws, it’s mandatory for each and every company to maintain annual financial records.
financial consultancy dubai | Financial advisory companies in dubai

VAT Credit Claims:

The companies will have the authority to claim the tax credits on all the business associated services and goods.The companies falling under the ambit of VAT will be needed to prepare formal tax return on definite intervals. The business and services have been authorized to charge VAT on all the taxable goods and services, offered by them. It’s mandatory that payments and tax returns must be submitted by the companies to the Federal Tax Authority (FTA) no later than 28th day from the end of the tax period. Non-compliance of the order or delay after the due date would invite penalty or fine imposition by the competent authorities. All the tax registrants, who have been provided with a Tax Registration Number (TRN), have to file tax returns.

Mandatory compliance under VAT

  • Periodically filing VAT returns, and payments on the due dates as specified in the law.
  • Proper maintenance of accounts of books as per the law and rules made thereunder.
  • Record keeping as per the law and the Rules made thereunder.
  • Maintenance of proper tax invoice.
  • Provision of all relevant data and detailed documents, in case of any audit, is conducted by FTA.

    Despite the clarity of VAT laws, rules and regulations, its practice and application is quite complex and requires matured and experienced brains to meet compliance requirements. Aimstorm Solutions is the leading VAT Compliance Services provider In UAE, providing support at all the stages.

    vat registration

  • Reliable & safe

    Financial Regulation

    Licensed by the Cyprus Securities and Exchange Commission under licence number 138/11 in accordance with the Markets in Financial Instruments Directive.

    Insured Client Funds

    We are a proud member of the Investor Compensation Fund which acts as a guarantor of last resort for our investors. IFC covers the maximum amount of 20.000 EUR for MiFID clients.

    Segregated Accounts

    Investor’s money is kept in segregated accounts with top-tier banks that cannot be claimed by creditors or used by us. Account base currencies are available in EUR, GBP, USD, CHF and JPY.

    Negative Balance Protection

    Through the use of an automated transaction monitoring and risk management system, a Consulting WP client’s account will never be allowed to reach negative balance.

    Free VAT Consultation

    Submit Your Details We Will Contact You Soon 

    × How can we help you?