VAT refers to as Value Added Tax. It is levied on consumption of goods and services and is an indirect tax. VAT got implemented on 1st January 2018 by the UAE Government for businesses operating in UAE. VAT impacts end users i.e. consumers and has created a chaos among business enterprises due to lack of proper knowledge and understanding.
VAT consultants in UAE play a very crucial role in calculating and implementation of VAT tax for businesses. Poor interpretation of VAT leads to false preparation of accounting records and entries. Also the credit cycle has created an additional burden on finances of business leading to crisis in cash flow. This is because business needs to pay VAT from their own finances till customers doesn’t purchase their goods or services.
VAT consultants in Dubai or for any other emirates are appointed to look after VAT calculation, filing returns for the business as any discrepancy in the same can lead to heavy penalties and fines.
Maintaining VAT records is done for tracking up-to-date information regarding VAT filing and to avoid unnecessary tax payment. Any company registered under VAT Law shall maintain its book of records for a minimum period of 5 years. To do this, companies appoint VAT consultancy services in UAE.
At Horizon Biz Consultancy , we understand above mentioned issues and calculations. We commit to provide the best VAT consultancy services in Dubai and other emirates, which include:
We have been providing all sorts of accounting and finance services since six decades and VAT is one of our core services. We have a significant number of clients who are satisfied with our approach and working on VAT, Excise tax calculations and problem solving. If you are looking for VAT consultants in UAE, then you can count on us. To start with the VAT calculation and filing, do contact us today. We are happy to serve you!