VAT Consultancy Services in UAE

In the UAE, the VAT voluntary registration threshold is AED 187,500 per annum.

If a business’s taxable turnover exceeds AED 375,000 per annum, it is mandatory for them to register for VAT and start collecting VAT from its customers on behalf of the government.

After registering for VAT, businesses are required to file VAT returns on a regular basis (usually quarterly), which report the amount of VAT they have charged their customers and the amount of VAT they have paid to their suppliers. The VAT return must also include details about the business’s total sales, purchases, and expenses for the period.

Compliance with VAT regulations is crucial for businesses as VAT returns must be filed on time (within 28 days after the end of the tax period) to avoid penalties and fines. Any errors in VAT returns or failure to file them can also result in penalties and fines. Accurate record-keeping is necessary to ensure compliance with VAT regulations.

Our expert VAT specialist provide valuable assistance to with VAT registration by guiding them through the process, helping with the preparation and submission of the VAT registration application, ensuring compliance with all relevant VAT regulations, reviewing financial records to avoid any potential discrepancies, and providing ongoing support to help the client remain compliant with VAT regulations and laws in order to avoid any potential penalties or fines resulting from non-compliance, and ensure a smooth and efficient registration process.

When UAE businesses or individuals who are VAT registered decide to liquidate their company or they no longer will meet the VAT registration threshold, it is necessary for them to apply for VAT deregistration.

To apply for VAT deregistration, businesses must provide evidence to the tax authorities that their taxable turnover has fallen below the VAT registration threshold, or that they have ceased trading or closed their business. If the application is approved, the tax authorities will cancel the business’s VAT registration and issue a deregistration certificate.

It is important for businesses to note that they must continue to file VAT returns and pay any outstanding VAT until the effective date of their deregistration. Failure to do so may result in penalties and fines. Additionally, businesses must maintain their VAT records for a period of seven years from the date of deregistration.

It is also worth noting that if a business deregisters from VAT voluntarily, it may not be able to register again for a certain period of time, usually 12 months. Therefore, businesses should carefully consider the implications of VAT deregistration before applying.

Our team of VAT experts provide comprehensive support throughout the VAT deregistration process, ensuring compliance with all relevant laws and regulations. Our goal is to make the process as stress-free as possible for our clients.

Our expert VAT Specialists’ top priority is to ensure that our clients have a clear understanding of how tax laws affect them. Despite the years of VAT compliance, it remains a recurring challenge for many businesses. Our team of VAT experts comprises knowledgeable professionals who are passionate about educating clients and their finance teams. They work diligently to safeguard their clients against financial losses resulting from non-compliance.

As a VAT registered entity, you will be responsible for the compliance of VAT return submissions, either quarterly or monthly as well as maintaining the financial books and additional VAT return supporting documents. 

Our VAT Experts know how to properly calculate VAT returns and have a keen understanding of the laws and regulations.  This ensures compliance and reduces your exposure to tax risks including levied fines and penalties. A VAT return is a compulsory report that businesses and individuals who are registered for VAT need to submit to the tax authority. This VAT return is a compulsory summary of their taxable transactions for a specific period, which includes the amount of VAT charged to their customers and the VAT paid on their purchases. It also covers the business’s total sales, purchases, and expenses for that period. Not submitting the VAT return on time or providing incorrect information may lead to penalties or fines. Our team of highly-knowledgeable VAT experts provide accurate and timely VAT returns and filing, along with to help ensure compliance with VAT regulations and laws.

VAT refunds are available for certain registered entities who pay VAT on business expenses and purchases related to taxable supplies. However, not all expenses and purchases are eligible.

Our VAT Experts can help you determine if you qualify for a VAT refund and guide you through the filing process to ensure compliance with all requirements and regulations.