VAT Consulting Services in Dubai
Updated on Monday 22nd August 2022
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VAT was officially introduced in the UAE at the beginning of 2018. Even if there was a period of accommodation with the new taxation rule and the formalities imposed, company owners relied on specialized support, in order to be able to legally operate on the market. Below we present some information about VAT consulting services in Dubai, with the mention that you can call on our experts in the field. Our VAT consultants in Dubai are at your disposal with complete details about business registration for VAT purposes.
VAT in the UAE - General information
First of all, it is important to emphasize that the standard VAT in the UAE is a 5% rate and is one of the lowest in the world. This VAT is an indirect tax that is applied to various services and products. Being an indirect tax, this means that it is paid by the final consumer, and the FTA or Federal Tax Authority will collect this tax. Below is other information about VAT in Dubai:
- There are several exceptions to VAT in the UAE. For example, this tax does not apply to exports, investments in precious metals, education, health, aircraft, and sea transportation services.
- The sale of land plots is not subject to VAT taxation.
- Companies importing products in excess of AED 187,500 per year must register for VAT purposes.
- Registration for VAT payment is easy, and company owners must provide copies of the business license, company documents, bank account, etc. Solicit us VAT consultancy services in Dubai.
More about the VAT registration in Dubai can be discussed with one of our VAT experts in Dubai. if you would like to register your company for VAT purposes, please feel free to get in touch with us and ask for a free case evaluation.
Short facts about VAT registration in Dubai
VAT registration in Dubai starts with taxable supplies and imports that reach and exceed the amount of USD 100,000. But voluntary registration can be done for amounts between AED 187,500 (around USD 50,000) and AED 375,000 (approximately USD 375,000). We reiterate here some of the necessary documents for VAT registration in Dubai, which our team of VAT consultants in Dubai can take care of:
- Company documents, including a copy of trade license, Articles, and Memorandum of Association, company address.
- Details about the business activities, monthly income statements, and bank account details.
- Copy of the valid passports of the shareholders/business partners, and authorized signatures.
If you get in touch with our Dubai accountants, you can discover all the formalities required for VAT registration in Dubai. We have a team dedicated to this sector, as a result, you can benefit from VAT consultancy services in Dubai.
Types of services offered by our VAT consultants in Dubai
In order to be able to register the company for VAT purposes without dealing with any problems, you can use the services offered by our VAT consultants in Dubai. With experience in this field, our specialists are ready to offer you the necessary support in this direction. Below you will find some information about the VAT consultancy services in Dubai we can offer, among other things:
- VAT registration for your company - We offer support for company registration for VAT purposes. All documents and formalities can be solved by the VAT consultant in Dubai.
- VAT advisory services - Registration for the payment of taxes also involves additional services. Those interested can find correct and complete information about the imposed taxes, solutions, and optimal methods for paying the taxes depending on the transactions, the impact on the company.
- VAT return filing service - Companies can benefit from support for completing VAT forms, plus assistance in case of errors in VAT returns. We can also help you if you are eligible for VAT refunds.
- VAT training - This service can be customized, depending on the requirements of companies registered in Dubai. In this sense, business owners can receive training for a good understanding of the new tax rules, including VAT.
- Expert VAT consultancy - A series of solutions can be offered for those who want to register their company for VAT payment. The financial impact after VAT is important for any company established in the UAE. Our clients can receive specialized help.
VAT experts in Dubai – Support for your company
Even if the adjustment period with the new tax has passed, it is recommended that company owners continue with the supervision of transactions involving VAT, by VAT experts in Dubai. They are up-to-date with the legislation and the changes brought by the authorities and can offer complete VAT consultancy services in Dubai for the smooth running of the business. In addition to the services mentioned above in the article, our VAT consultants in Dubai can also deal with aspects such as:
- The introduction of various changes in the operating systems to align with the imposed VAT requirements.
- Maintaining the documents necessary for VAT audit, as well as advice on this topic.
- Specialized training for the company's employees, in case of changes in the law.
- Support for obtaining interpretations from the tax authorities in Dubai, in problematic situations.
- VAT advice for a better understanding of your business direction in Dubai.
- VAT consultancy services in Dubai are necessary for any company operating in this city.
The recommendation is that when you open a company in Dubai, you should consider specialist help in taxation matters, to prevent financial and structural problems that may arise at a given time. You can rely on our VAT experts in Dubai right from the start.
What is the experience of VAT consultants in Dubai?
To be able to offer complete and quality services in the financial sector, a VAT consultant must have extensive knowledge in the field. In addition to those related to business, objectives, taxation, and implementation, a company that offers VAT consultancy services in Dubai is based on factors such as expertise in finance, operations, calculation, declaration, and VAT refunds. The advisors must provide support for any complicated matters that might arise in a firm, referring to VAT.
Therefore, it is necessary to make a solid analysis before collaborating with an accounting firm in Dubai, to be able to receive exactly the services you need, in a fast and reliable manner.
Why do you need VAT experts in Dubai?
In order to have accurate VAT submission, reduce the risks related to VAT and documents, and also benefit from quality services for the company you own, it is recommended to contact VAT consultants in Dubai. The experience they have in the field helps to consolidate a good business direction, at least from the tax point of view. Our VAT experts in Dubai can explain to you what kind of services are necessary for your company so that later together you can make the right decision.
Why invest in Dubai
Dubai is one of the most popular business and financial destinations in the Gulf. The possibilities for development and consistent profit generation are multiple, which is why many foreign entrepreneurs find Dubai as a favorite for their business. Excellent conditions and a highly appreciated business climate are some of the important assets of Dubai. We would like to add the extremely prolific tourism sector, very well-developed infrastructure, multilingual and experienced workforce, IT and innovation sector, etc. Below you will find some statistical data and information about the economic direction of the UAE:
- 100% foreign ownership is allowed to foreign entrepreneurs operating in over 122 economic sectors.
- The UAE continues to attract a large number of expats for jobs offered in major cities, including Dubai.
- Due to the simplification of business conditions, the UAE ranked 16th out of 190 world economies, according to the 2020 Doing Business report.
- Approximately USD 155 billion represented the total FDI for the UAE in 2019.
- Most FDIs registered in the UAE are attracted by sectors such as real estate, trade, financial and insurance, and manufacturing.
Those interested in the services offered by our VAT consultants in Dubai can contact us for more details. We can offer you the necessary support if you are a foreign investor and want to find out more about the UAE tax system.