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VAT is also known as Value Added Tax which is an expense levied upon product or services. The UAE government introduced VAT in their Taxation system from 1st January 2018. They implemented VAT on goods and services with exemption upon food items, healthcare, and educational services. The standard levy tax rate is quite nominal i.e 5% (five percent) in UAE. This tax is a form of Indirect taxation that eventually falls on End-Users (customers). However, Businesses have to adapt and make certain types of changes to their accounting system process to comply with the VAT requirements regulated by the government.
We analyze it according to the Federal Tax Authorities (FTA) by providing the best tax consultant in Dubai. We all are aware of the fact that every business needs to maintain a book of accounts. And maintaining VAT needs top-notch services from VAT consultants in Dubai.
Hence, There are obligatory appliances of VAT on businesses that generate annual revenue of Dirham 375,000 or more. These businesses are required to submit an online VAT registration application within 30 days of being required to register. As per Federal Tax Authority (FTA) all businesses are required to maintain proper accounting records as per regulations and must record every financial transaction.
BSD Prime Account & Bookkeeping provides all VAT related consulting services to both start-ups as well as established companies of all sizes.
Registration is Compulsory when the revenue crosses the limit of 375,000 AED, But if business revenue is greater than 187,500 AED but didn’t exceed the limit of 375,000 AED then voluntary or optional registration should be done.
The Federal Tax Authority (FTA) has opened an online portal for VAT Registration. The deadlines vary based on the turnover of particular businesses are announced by FTA, and the registration should be carried out in a phased method.
It is quite crucial for every business to determine their obligation in relation to VAT registration, it is important for every business to know how to apply for VAT Registration and acknowledge the details required to complete the online process of registration.
As a consequence, the process of registration can be done easily and which helps to avoid unnecessary delays due to incorrect details of business which could even lead to rejection of registration application.
So here are some important steps to remember while registering for VAT in UAE -
The online VAT registration form contains eight sections as shared below, in which the details need to be filled for VAT registration completion-
Prime Services Dubai consists of an amazing team of specialists and offers the best VAT consultancy in Dubai. Our main objective is to help you structure the financial part of your business. We are trusted VAT consultants in Dubai who make sure your company does not have to face any hurdles regarding complex financial issues. Hence, we assure your company to be free from such kinds of penalties incurred due to not having proper compliance. Our teams of VAT consultants work to help you get acquainted with certain changes and make sure you don't face any issues while implementing the changes regarding tax law. Without Expert guidance, it is possible that you might have to face challenges while implementing VAT.
As a VAT Consultant the first step is to check all the documents which had been in use till now. We do the proper incorporation of VAT law clauses as per the regulatory of UAE. Hence, we evaluate and plan. Moreover, we offer the best tax consultancy tailored to your business.
We do follow a proper VAT registration process as per the regulations and afterward filing for your returns application as well. BSD Prime services perform a better alignment of compliance practices along with necessities fulfilled by one of the best VAT consultants services in Dubai. Moreover, we provide consultancy regarding any tax and accounting fields for any scale of businesses.
We develop, assist, and advise in providing a better structure to your supply chains, transactions, and many more. We make sure to bring change that is crucial and necessary. Moreover, we build a technologically advanced system that offers impeccable services for all your business needs and help to increase the pace of VAT assistance and implementations.
We maintain a sophisticated accounting system and implement VAT rules. Moreover, for SMEs that are larger, we assist your finance team by implementing VAT.
We, at BSD Prime Account & Bookkeeping Services, offer an unmatchable solution by providing all your VAT and tax services from the skilled tax consultant in Dubai. We embrace perfection and make sure our organization works as a one-stop solution to all of your VAT and tax regarding services. We are proud to have a team of excellent VAT consultants in Dubai that offer hassle-free services with a sophisticated accounting system with robust software and IT system. For all the services regarding the taxes, we provide a dedicated tax consultant in Dubai that will look after all of
your transactions and make your business tax-efficient. For this, we offer the most skilled and experienced tax consultant in Dubai.
Excellent and clear advise on new VAT & accounting process, friendly approach and looking forward for long term business engagement with BSD Prime Account & Bookkeeping Services.
Had a telephonic consultation about VAT registration, preparation and submission with BSD Prime Account & Bookkeeping Services, excellent knowledge on process, good and friendly advise. Sounds like will have long business together.
Very helpful and friendly approach staff of BSD Prime Account & Bookkeeping Services, good knowledge on Accounting and VAT process.
