VAT & TAX consultancy services in dubai uae
We at SGY provide reliable VAT Implementation Services in UAE /GCC. We help our clients to successfully Assess, Implement and Integrate VAT in line with the regulations.
- Impact Assessment
- Implementation & Alignment of IT , Accounting and MIS
- Registration and obtain TRN
- Tax Filing, refund, representation and dispute resolution
- VAT Administration & Compliance
How can we help you
- Analyze the effect of VAT on your Business;
- Help in Registering your Business with FTA and get TRN;
- Help in preparing your Books as per VAT guidelines;
- Timely filing of VAT Returns;
- Claiming of Refunds.
Preparation for Companies
- Companies have to analysis the impact of Vat on their Businesses so that Tax Credit and Tax payable can be identified and paid;
- Accounting software’s has to be upgraded in accordance with Vat law like Modification of invoices (tax amount should come in AED, tax invoice should be mentioned on the top of invoice);
- Tax invoice should contain TRN No., date of sale, Emirates of Sale, Clear description, Quantity of goods, Amount of sale and tax amount in AED
- Vat payable and Vat receivable account to be created in CL/CA;
- Record keeping in respect of all business transactions is a must (tax invoices, Debit/Credit note, Import/Export reports, Record of goods and services provided for free or for private use, Zero rated or Vat Exempt supplies and purchases)
Businesses that satisfy certain requirements covered under the Legislation (such as being resident in the UAE and being related/associated parties) will be able to register as a VAT group. For some businesses, VAT grouping will be a useful tool that would simplify accounting for VAT.
Coverage of VAT
Tax shall be imposed on:
- Every Taxable Supply and Deemed Supply made by the Taxable Person.
- Import of Concerned Goods except as specified in the Executive Regulation of this Decree-Law.
If any business have charged and paid Vat to FTA but the customer has not paid and treated as Bad-debts the Vat law includes special rules for enables them to make a claim for Bad-debt relief under specific conditions.