VAT Services
Expert VAT Consultancy Services in the UAE - Maximize Your Tax Efficiency with Our Professional Guidance.
As leading VAT Consultancy service providers in UAE, we understand the challenges businesses face in maintaining momentum with frequently changing legal requirements. VAT implementation was more like a revolution in several countries worldwide, and the introduction of Value-Added Tax (VAT) in the UAE was part of the government's strategy to reduce dependency on oil-generated income and further stabilize the economy.
The Federal Tax Authority oversees managing and collecting federal taxes and related fines, distributing tax-generated revenues, and applying the tax-related procedures in force in the UAE. As VAT consultants in the UAE, we have undertaken to assist our clients in creating an effective strategy to maximize their tax recovery while staying within the law and ensuring compliance with government regulations.
Our VAT Consultancy Services encompass VAT Registration, VAT advisory & compliance support, VAT return filing, VAT health check, VAT Training, Tourist Refund scheme, VAT Deregistration, and much more. We work with businesses of all sizes and types, providing tailored solutions to meet specific needs and challenges.
Our experienced team of VAT specialists stays up-to-date with the latest changes and developments in VAT regulations, ensuring that our clients are always well- informed and prepared. We provide comprehensive VAT advisory and compliance support, assisting clients in understanding the implications of VAT on their operations and identifying potential risks and opportunities.
We also offer VAT health checks, designed to identify any compliance issues and provide recommendations for improvement. Our VAT training programs are tailored to meet the needs of our clients, helping them understand the fundamentals of VAT and how it impacts their business.
Whether you need help with VAT registration, filing, or deregistration, we are here to assist. Our goal is to help our clients minimize the impact of VAT on their business, reduce costs, and maximize tax recovery. Contact us today to learn more about our VAT Consultancy Services in the UAE.
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VAT Consultancy Services
01
VAT Registration
VAT Registration in UAE is mandatory for all those businesses that meet the mandatory turnover threshold limit, i.e., AED 375,000/- per annum. This includes the sale of goods or services in the ordinary course of business by an entity. Voluntary registration can be done if the taxable supply exceeds AED 187,500/- per year..
We at MSATC are within your easy reach to get complete assistance with the registration requirements.
02
VAT Return Filing
After registering with FTA, businesses are required to file periodic statutory declarations. VAT Returns – summarizing all the taxable transactions that the business has made in that specific period, must be filed as per the tax periods stipulated by the FTA for each entity registered with the FTA. Any errors in filing statutory returns not only attracts fines and penalties but may also lead to loss of reputation.
At MSATC, with the procedures and systems to manage tax compliance effectively in place. Our team of Tax experts reviews the tax computations prior to the filing of VAT returns and ensure that an entity’s tax obligations comply with the relevant laws and regulations, and there are no omissions or errors.
03
VAT Advisory & Compliance Support
Chris Rock, the American comedian, actor, writer, producer, and director – made a statement that goes – “You don’t pay taxes–they take taxes”.
And we, MSians say, “Let them take taxes, but be a prudent payer”.
At MSATC, our technical experts apply their deep insights gained from managing VAT in various jurisdictions to ensure that our clients remain ahead of requirements within the UAE.
The FTA carries out inspections or tax audits at varying intervals. A well-timed VAT Health-check can ensure that there are no compliance gaps and therefore avoid penalties of tax, interest, and fines.
04
VAT Training
Our VAT training provides a comprehensive understanding of the VAT system, covering the fundamental principles of VAT, regulation and administration and guidance on the interpretation and consistent application of the VAT legislation within UAE. Our training sessions are designed to equip you and your workforce with the knowledge, skill and confidence to work with VAT in UAE.
05
Tourist Refund Schemes
The FTA has introduced VAT Free shopping for Tourists visiting UAE. Certain VAT tax invoices issued to tourists for the purchase of goods by approved Retailers will be eligible for the refund.
Recovery of payment will be done through a fully integrated electronic system which connects retailers registered in the ‘Tax Refund for Tourists Scheme‘ with all ports of entry and exit from the UAE.
06
Tax De-registration
In the event a tax registrant applied for Voluntary registration and after 12 months if their turnover did not exceed AED 187,500, or if the business stops making taxable supplies then they must apply for VAT Deregistration. This process is a part of VAT Online Services. The Registrant must apply to the Authority for deregistration in accordance with the cases mentioned above, within (20) business days of the occurrence of any of them. If the registered person does not deregister within the prescribed period as per the law, it will attract penalty from the Authority.
What are the intricacies you think you have to be concerned about when thinking of VAT? With MS you do not have to carry the burden of procedures – We Assure!
On receiving your requirements, our VAT experts analyze your business, scrutinize the application, and extend our advisory with regard to, that specific domain you have to be in compliance with. Our committed approach saves your time and your money.
Winston Churchill, once said “There is no such thing as a good tax” But MSians does truly believe in good methodologies, right actions and most of all, timely updation!
Reach out to us for all your queries. Assuring you a best solution from the most energetic team at MS.
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