VAT Consultants in Dubai

In today’s competitive market, every company has distinct challenges. HLB HAMT, as experienced VAT consultant in Dubai, Sharjah, and Abu Dhabi, UAE, can resolve any VAT-related concerns in a reasonable timeframe due to their skill and in-depth expertise.

We distinguish ourselves from the competition in this area by providing effective VAT assistance to our clients. Our professional VAT consultants not only inform customers to address current and future issues, but they also assess our clients’ needs and propose appropriate solutions.

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HLB HAMT - Accounting Firm in UAE

Phone:- +971 4 327 7775
Mobile:- +971 50 677 5860
Email:- dubai@hlbhamt.com

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    VAT Consultants in UAE: A Brief

    VAT is a sort of consumption tax that is charged when a commodity or service is valued. It is a tax imposed on the goods and services purchased by individuals and corporations.

    HLB HAMT is prepared to serve you and offer you with the finest service at a reasonable cost.

    VAT consultants have been supporting businesses in adhering with the UAE’s VAT laws since the installation of VAT in Dubai. The institution in responsible of tax collection and administration is the Federal Tax Authority (FTA). To aid business companies, the body offers all legislation, including recommendations and explanations.

    VAT experts assist business owners with effective tax planning, allowing them to better control tax outflow and manage working capital. VAT consultants may help organizations with VAT Advisory and VAT Compliance services, among other things.

    VAT Consulting Services in Dubai

    HLB HAMT has a team of dedicated and experienced tax professionals who are continuously trained and updated with current law changes having impact on taxable areas of the clients. Any update by FTA is reviewed and discussed within the team and an analysis is done to identify the impact of the tax law amendments which is then communicated to the clients on timely basis.

    VAT compliance is a critical function which needs to be monitored on daily basis and for each type of transaction to ensure accurate recording in the books of accounts and correct reporting to FTA within the due date. Organizations choose to appoint professionally qualified staff to manage VAT-related tasks and ensure compliance of the same.

    However, outsourcing VAT accounting in UAE has become the norm or the usual practice of companies. When it comes to outsourcing, companies have many doubts about how exactly it will work and if it’s a good decision they could make to improve their business. It’s one of the best ways of taking your business on the road to success.

    Our universal approach ensures long-term corporate success while employing updated techniques to address any tax-related issues. Let’s have a look at our services as dependable VAT consultants in Dubai, UAE:

     

    VAT Transaction Advisory in UAE

    VAT transaction advisory services are a service in which a VAT specialist examines individual business transactions to determine if VAT applies. Such services are exclusive to a company. This allows us to examine how VAT affects their firm and determine what improvements to their accounting systems and business processes are necessary.

     

    VAT Registration in UAE

    The VAT law establishes thresholds for required and optional VAT registration in UAE. It’s critical to figure out which of your company’s operations are considered taxable supply for VAT reasons. Certain enterprises – generally start-ups may find it advantageous to register for VAT on a voluntary basis in order to recoup their input tax early. It’s also crucial to make sure a business registers for VAT before the deadline to avoid fines for late registration.

     

    VAT Transaction Analysis in UAE

    The VAT law establishes thresholds for required and optional VAT registration. It’s critical to figure out which of your company’s operations are considered taxable supply for VAT reasons. Certain enterprises – generally start-ups may find it advantageous to register for VAT after an analysis on the various transactions to be carried out by the entity. This will help to determine the correct applicable taxation point and requirement for registration.

     

    VAT Returns Filing in UAE

    Based on the scale of the company, VAT returns must be completed monthly or quarterly. HLB HAMT can help customers file VAT returns correctly and on schedule, as well as guide them through the process of settling outstanding sums.

    What is the difference between input and output VAT?

    The VAT that a company pays to suppliers for all business-related goods, machinery, and costs is known as input tax.

    Output tax is the VAT that a VAT-registered firm in the UAE charges on goods and services that it provides to consumers or clients. For each taxable sale, a firm charges output tax, which it then collects.

    Assistance of VAT consultants in Dubai

    Given the challenges of the VAT procedure in today’s volatile business environment, HLB HAMT’s knowledge ensures that your organization goes as planned. By combining our complete taxation solutions with Dubai VAT consultancy services, our team can provide top-notch solutions for your company.

     

    Frequently Asked Questions – VAT Consultants in Dubai

    1. Why do you need the services of a VAT consultant in Dubai?

      VAT is sometimes regarded as a complex process, and it needs the assistance of qualified and experienced VAT consultants in Dubai to help businesses adhere to the rules.

    2. Is VAT charged on consultancy services?

      If supplied within the range of VAT, consultation may be subject to a VAT rate of 5% or 0%, depending upon the type of the activity. Only by examining the circumstances of the activity can the tax rate for consultancy services be decided.

    3. Why should businesses assist HLB HAMT’s VAT consultancy services?

      Businesses must select the best VAT consultancy services in Dubai, UAE based on a number of criteria, including the tax consultant’s competence, proficiency in VAT registration, VAT refunds, and tax filing. VAT concerns can be handled efficiently by a VAT consultant who is well-versed in all the technical advancements in the sector.

    4. Does VAT apply to all goods and services?

      Whether explicitly excluded or excused by legislation, VAT, being a general consumption tax, will affect the majority of goods and service transactions.

    5. Is it necessary for an individual to pay a 5% value-added tax on imports from outside the UAE?

      No, such imports are considered exempt from the UAE’s value-added tax.

    6. Are all free zones in the UAE VAT designated?

      No, just the free zones that the UAE Cabinet has defined as designated zones.

    7. Is VAT applicable to the supply of services in designated areas?

      Yes, in designated zone and when supplying services to the mainland, a 5% VAT is charged.

    8. Have there been any particular requirements in the UAE VAT Law that apply to specified areas?

      Yes, the designated zone is regarded as being outside the UAE in terms of value-added tax, which implies that most activities performed in the specified place will receive preferential value-added tax treatment.

    9. Will items that are free from customs charges be excluded from VAT as well?

      Some imported items are free from customs charges but are liable to VAT.

    10. What other taxes does the UAE intend to impose?

      The UAE will implement corporate tax on June 1, 2023, in accordance with international best practice.

    11. How long does a taxable person have to keep VAT invoices?

      VAT invoices produced and accepted must be kept for a minimum of 5 years by any taxable person.

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