VAT Consultant in Dubai, UAE
With expertise and in-depth knowledge of VAT registration and an excellent track record, VAT consultants in Dubai can handle all VAT-related matters such as VAT consultancy, VAT registration, VAT training, VAT returns, and tax laws regulations. Since the introduction of VAT on 1 January 2018, businesses have sought the services of leading Best Vat Consultants In Dubai who are registered with the UAE Federal Tax Authority (FTA) as tax officials and qualified tax agents. The corrector structured application of VAT has become a mandatory duty and the provision of VAT consultancy has become absolutely essential for compliance with UAE VAT laws.
How can VAT consultants in Dubai help businesses with VAT advice and compliance?
Since the introduction of VAT in Dubai on 1 January 2018, VAT consultants have been helping businesses to comply with UAE VAT. VAT consultants assist business owners with effective tax planning, help businesses control tax expenditure, and manage working capital. VAT consultants mainly assist businesses through VAT advisory services and VAT compliance services.
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Some of the key VAT compliance services are offered by VAT consultants in Dubai.
Ensuring timely submission of VAT returns and reconciliation.
Document review, VAT returns, and reconciliation.
Providing advice to clarify client queries regarding VAT returns.
Representation of FTAs in tax matters.
Review and adjustment of outgoing documents
VAT advisory services include
VAT planning for the UAE.
VAT consultancy services
Providing advice on VAT registration as a sole trader or as a tax group.
Introduction of a reverse charge mechanism for imports
Training and awareness-raising of employees on VAT issues
VAT Law
VAT is levied on the consumption or use of goods and services, with the final cost being borne by the final consumer. The UAE imposes 5% VAT on taxable goods or services supplied by registered taxable businesses at any stage of the supply chain. However, businesses account for and declare the VAT on behalf of the State.
In accordance with the Federal Law No. 8 of 2017 on VAT and the Government Regulation (52) of 2017 on the implementation of the Federal Law No. 8 of 2017 on VAT, businesses in the UAE must register their businesses. The VAT also applies to tax-registered businesses operating in the mainland and in the UAE’s free zones.
Best VAT registration in Dubai
VAT registration is required for businesses carrying out taxable transactions and imports worth Dhs 375,000 (US$1,000) or more. Under the UAE VAT Law, businesses with taxable transactions and imports between Dhs 187,500 and Dhs 375,000 can optionally apply for VAT registration. However, businesses with taxable transactions and imports below USD 187,500 are not required to apply for VAT registration. The VAT registration application can be submitted online, but businesses in the UAE can seek efficient Value-added taxes consultancy services to complete the process properly. It should also be noted that the name of each person, whether a company, owner, director, or authorized person, must be in the correct Arabic language in addition to English.
Documents required for VAT registration in the UAE
The documents required to apply for VAT registration in the UAE include:
A copy of the business license
Copy of the passport of the business owner and partners
Copy of the Emirati identity card of the owner and partners
Company’s Memorandum of Incorporation (MOI) and Articles of Association (CA)
Contact details and address of the company
Bank account details
Monthly statement of income and expenditure for 2017 to date in accordance with the FTA format
Type of business and activities carried out
Expected turnover in the next 30 days
Customs registration information (if applicable)
Authorized signatories Emirates ID cards, passports, and permit documents
Once all documents have been submitted, the FTA will review the application. If all requirements are met, the application will be approved by the FTA and a Tax Registration Number (TRN) will be issued within 2-3 weeks. The registration of a tax group starts with an individual company as described above, after which the information about the group is entered. If the taxpayer does not register for VAT within 30 days, a fine of USD 20,000 will be imposed.
VAT advice offered by Jitendra Chartered Accountants
Businesses should choose the right company for VAT advice in Dubai, UAE, based on a number of factors, including the tax consultant’s experience, expertise in finance, IT, business, VAT calculation, VAT returns, and reporting. A VAT consultant who is well versed in all technological developments in the field can seamlessly check accounts, request refunds, fill out forms, or solve complex VAT problems.
Jitendra Chartered Accountants (JCA) has a dedicated team of VAT consultants who have local expertise in VAT accounting, VAT reporting, VAT returns, and all other laws and regulations relating to VAT in the UAE. Jitendra Chartered Accountants is a regulated tax service with an Arabic-speaking tax representative registered with the Federal Tax Authority (FTA) who can assist with all tax issues and represent companies in tax matters before the FTA.
