VAT Consultants in UAE | VAT Consultancy Services in Dubai, UAE
Value Added Tax(VAT) was introduced by the UAE government on 1st January 2018. VAT is an indirect tax that is levied on the consumption of goods and services. The imposition of vat would greatly have an impact on the functioning of the business and with increased risk, volume and complexity of the transactions it becomes difficult for the taxpayers to meet the tax compliance.
The Federal Tax Authority (FTA) is the government entity who is responsible for the collection and management of the Taxes. All the legislation including the guides and clarifications are provided by the authority to help the business organizations.
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 UAE and other emirates,
- VAT Registration Services as individual & Tax Groups.
- Regular compliance services which includes filing of VAT Returns and communication with FTA Authority for queries asked.
- 360 Degree and 100% Check for all business transactions.
- Calculation and cross checking of periodical VAT Liability.
- Accounting of Reverse charge mechanism on import of Goods & Services.
- Accounting input credit on services & goods used for business purpose.
- Addressing VAT issues related to specific sector.
- Providing VAT Training to staff.
- Providing strategic inputs for conducting your business in the post-VAT age, addressing aspects like pricing, working capital, marketing & communication
We also provide VAT audit services in UAE. We propose a thorough check of VAT records through VAT audit. Horizon Biz Consultancy understand that certain problems are faced by organization in era of VAT which will entertain certain penalties and fines.
These common problems are:
- Error in making Invoice or Accounting the impact of VAT
- Error in taking Input Tax Credit of VAT which you have already paid
- Error in paying VAT or Non Levy of VAT
- Failure to keep proper records
- Failure to make designated zone (Free Zone) compliance’s
- Missed any deadline (i.e. Application for preregistration, return filling dates)
- Reconciliation with Custom Records
- Amendment of Business records
How Can We Help?
Get your 1st Free VAT Services Meeting from Horizon Biz Consultancy
Our VAT Consultants in UAE, provide full time support and guidance in terms of VAT tax. Our VAT audit services in UAE are termed as timely and accurate by our existing clients. Also we are cost effective and comply to International standards for our process and methods of conducting VAT audit services.
Would you like to know more about VAT or any other Services?
Speak to our experts today.
We are providing not only Dubai’s, but United Arab Emirates’ best Taxation, Business Setup, Outsourced Accounting, Finance Consultancy, and other allied services. We are working since 6 decades. And years of experience will never let you down.
-Trading License Advisory
-Accounting & Book-keeping
-Outsource Accounting Services
-Outsource CFO Services
-Outsource Payroll Processing Services
-Company/Business Setup Services etc.
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FTA Update – VAT Guide issued by FTA for clarity of Apportionment