No# 403,Khalidiya, Abu Dhabi, UAE
The value-added tax (VAT) is considered a mandatory consumption tax levied on all products and services within the country. Consumers are ultimately responsible for paying the VAT on the goods and services they consume. The final consumer is the one who bears the expense of the VAT, which is assessed on the use or consumption of goods and services. In the UAE, taxable supplies of goods or services are subject to a 5% VAT charge on tax-registered firms at each stage of the supply chain. In some cases, there are also some exemptions to VAT in the UAE. For more clarification, you should need to consult VAT Consultants in Abu Dhabi.
Businesses must register for VAT if their taxable supply and imports are AED 375,000 (USD 1,000) or more. According to UAE VAT law, companies having taxable imports and supplies between AED 187,500 and AED 375,000 are eligible to apply for VAT registration voluntarily. Businesses that have taxable supplies and imports under AED 187,500, however, are exempt from filing for VAT registration. Additionally, it should be noted that all names, whether those of a firm, its owner, manager, or an authorised person, must be written in correct Arabic alongside English.
* Trade licence copy
*Passport-size photocopies of the entrepreneur and business partners
*Copy of the owners' and partners' Emirates IDs
*Memorandum of Association (MOA) of the company and Articles of Association
*Business contact details
*Bank account details
*Business type
*Expected turnover in the coming 30 days
*The monthly income statement for the entire year of 2017 in FTA format
*Emirates IDs, passports, and other papers with authorised signatures
Failing to register or file VAT correctly can result in fines from the Federal Tax Authority (FTA). Our team of skilled VAT Consultants in Abu Dhabi ensures your business is fully compliant with all FTA guidelines.
Registered businesses can claim input VAT on goods and services used for operations. Without registration, these costs become non-recoverable, which will increase your overall expenses.
Get access to VAT specialists who understand both domestic and international tax rules, helping you navigate complex VAT scenarios.
Many government and large corporate clients prefer or require working with VAT-registered companies. Being registered opens doors to more partnerships and bigger projects. With the support of our VAT Consulting Services in Abu Dhabi, your business can tap into larger contracts and long-term growth.
Avoid costly mistakes and non-compliance issues with professional oversight and proactive error-checking.
In a VAT return, the tax authority simply states how much VAT needs to be paid or refunded. The amount of VAT that must be paid or returned by the tax authorities is simply stated in the VAT return filing. Each quarter, companies file a VAT return, which enables them to track the proper financial route. To prevent fines that can get in the way of your business operations, it is preferable to be VAT compliant. You must submit VAT returns at least once every three months. However, there are specific situations when companies may need to file VAT returns monthly. Implementing the VAT filing procedure or becoming VAT compliant gives your company legal security and protects it. In terms of tax payments, VAT has the advantage of preventing financial losses. Filing VAT returns correctly not only keeps you compliant but may also make your business eligible for VAT refunds on input tax. With expert guidance from VAT Consultants in Abu Dhabi, your business can stay compliant and secure
The purpose of maintaining VAT records is to make it simpler for management and the government to track current information regarding VAT filing and prevent unauthorised tax payments. Companies that are VAT registered must keep their books of records for at least five years. The book of records comprises invoices for sales and purchases, debit and credit notes, import and export notes, accounting records, zero-rated purchases and supplies, and items issued for non-commercial use. But just keeping records isn’t enough; periodic VAT Health Check-Ups can help identify hidden compliance issues before they become serious. As part of our VAT Consulting Services in Abu Dhabi, GAAP Audit ensures your records are well-organized and compliant with FTA regulations.
The process of deregistering for VAT, also known as cancelling or terminating VAT registration, is typically undertaken by businesses when they need to cancel their VAT registration with the Tax Authority. When a firm has to revoke its VAT registration with the Tax Authority, it normally completes a VAT deregistration process, also known as cancellation or termination of VAT registration. Companies must select one of two categories before filing for VAT deregistration, and their decision will be based on a variety of factors. There are two types of VAT deregistration services. Mandatory VAT Deregistration and Voluntary VAT Deregistration.
As one of the most trusted names for VAT Consulting Services in Abu Dhabi, GAAP Audit offers comprehensive VAT support tailored to businesses of all sizes. By partnering with us, you ensure full compliance with the Federal Tax Authority’s requirements, avoiding costly fines and staying ahead of deadlines. VAT registration helps reduce operational costs by allowing you to reclaim input VAT on business expenses and boosts your credibility and professionalism in the market. It builds trust with clients, suppliers, and partners. Moreover, being VAT-compliant opens doors to larger projects, government contracts, and long-term business opportunities. In addition to VAT support, GAAP Audit also offers reliable Tax Consulting Services to help you navigate corporate tax, tax planning, and compliance across all areas. Let GAAP Audit simplify your VAT journey with expert advice and dedicated service from start to finish
The rules for financial reporting are called accounting standards. These regulations make it very clear how the transactions must be recorded.
The opportunity to work abroad is a popular prospect, one
No# 403,Khalidiya, Abu Dhabi, UAE
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