VAT Consultancy Services- A whole process in UAE
The VAT is applicable in UAE on the use of all products and was implemented from 1st January 2018. It is implemented by UAE government to earn an additional source of revenue and to offer better services to UAE citizens. Almost all goods and services come under the scope of VAT. If your business revenue is Dh375000 or more than that, you are required to submit an online application for VAT registration in Dubai. As per Federal Tax Authority UAE, all business must ensure the recording of all financial transactions in addition to VAT registration to avoid penalties.
The process of VAT registration in UAE
VAT consultants in Dubai can assist you in this regard. UAE VAT registration includes submitting relevant documents, the filing of income for the previous year, calculation of export and import value by experts, declaration of relevant business activities, and documents for business authorization application. The standard VAT in UAE is 5% which is applied to certain goods and services but this tax in UAE may vary according to the case. Different documentation is required for different businesses.
The VAT registration Dubai is mandatory as well as voluntary. The mandatory registration threshold must be exceeded by a business for mandatory registration on the previous year which is AED 375000. However, if a business expects that their taxable supplies will cross the threshold limit in the next 30 days are required to get compulsorily registered. The voluntary registration threshold limit is AED 1875000.
Hiring VAT consultants in UAE for VAT accounting
Meticulous documentation is required for VAT registration UAE. The government will check business records thoroughly. Hence it is recommended to maintain proper records. A VAT consultant in Dubai can help you in reviewing your documents and VAT filing in UAE. You can easily handle your VAT affairs with confidence with the help of VAT consultancy Dubai and comply with all VAT laws.
The VAT is a new concept and everyone is not familiar with it in UAE. Hence VAT filing in UAE with the help of VAT consultant Dubai will avoid unnecessary confusions. The VAT should not be taken lightly as in the absence of VAT registration and VAT return filing in UAE, heavy penalties can be attracted. There are a lot of VAT affairs that are difficult to manage alone. VAT Service in UAE will manage the things effectively by letting you know all requirements. VAT consultancy Dubai will check all compliances related to VAT. They will update you regarding necessary amendments.
Alkhadim LLC is one such VAT Consultancy who will help in reviewing tax reports, provide technical services related to VAT accounting, tax filing UAE, and VAT calculator UAE. They can simplify VAT accounting by providing easy accounting procedures. They also offer VAT training in UAE to make you understand this new concept. Alkhadim LLC will make your work easy in every aspect.