VAT Services

VAT is an immediate tax. It is transaction driven and kicks in as soon as you take any action. VAT is complex and can impact directly on your bottom line, incurring significant penalties if you get it wrong.

Complying with VAT often requires quick thinking and immediate action. Our VAT advisors use specialist expertise to help solve our clients’ all VAT-related matters ranging from VAT registration applications and the completion of VAT returns to VAT consultancy and complex liability issues to avoid penalties, as well as the impact of transactions on the other areas of the business like accounting and audit.

Our VAT experts offer followings services across all sectors:

VAT Compliance

• Assistance with the application for a TRN for VAT registration with the FTA.
• Calculating and filing VAT returns due with FTA and handling objections.
• Confirmation on the basis of input tax recovery.

VAT Advisory

• Advice on the place of supply of your business for VAT purposes.
• Advice on the application of the Gulf Corporation Council (“GCC”) VAT rules for your sales to customers based in the UAE, GCC and outside the GCC.
• Assistance with the creation of qualifying tax invoices for sales to customers based in the UAE, GCC and outside the GCC.

System adjustments and VAT Accounting

• Specific support for GCC VAT accounting in the propriety accounting system, including introducing VAT coding for sales and purchase invoices and the creation of VAT reports.
• We can review your current accounting system to ensure it can comply with the additional tracking of taxable versus non-taxable supplies, payments, and credits under the VAT regime, including a geographic breakdown of income on an Emirate-by-Emirate basis.
• Assistance with the creation of qualifying tax invoices for sales to customers based in the UAE, GCC and outside the GCC.
• Support and training for accounting staff to understand the wider tax return processes, for example, to recognize supplier tax invoices to qualify for input tax relief.

VAT Planning

• We incorporate transaction-based VAT consultancy and planning assignments, aimed at maximising VAT recovery to avoid unnecessary burden on business cash flows and complement operational objectives.

VAT Audit

• We ensure daily transactions are accurately recorded and all business information is documented and maintained properly as required by FTA.
• Health check reviews by senior accounting officer that can identify VAT risks.
• Handle VAT audit investigation by FTA and filing appeals against penalties to the Tribunal / FTA.

General

• Consideration of any transitional arrangements for services supplied over the 1 January 2018 implementation period, i.e. apportionment of sales value.
• Review of supplier and customer contracts.
• Supporting on-going compliance both within territory and cross border.
• Expert advice for specific tax solutions.