TAX – EXCISE & VAT

TAX – EXCISE & VAT

The  GCC Member States are in the process of approving the long anticipated common framework for the introduction of a Value Added Tax (VAT) system in the GCC. The common VAT framework will form the basis for the introduction of a national VAT system by each Member State.

An agreement on a common VAT framework to be implemented across the GCC states is expected on 1st January 2018.

Companies with turnover exceeding AED 150 Million must apply for VAT registrationbefore 31st October 2017

Companies with turnover exceeding AED 10 Million must apply for VAT registration before 30th November 2017 and

 All other companies apply for VAT registration before 4th December.

Please note that the VAT registration is necessary for the all the eligible companies having trade license issued from a UAE based licensing authorities. 

Non compliance with timely registration may lead to fine & penalties.

It should also be noted that all the persons resident in uae should register as per UAE VAT Laws, if their turnover of taxable supply is in excess of AED 375,000/- be it free zone company or mainland company.

WHAT SERVICES WE RENDER?

VAT REGISTRATION WITH

Federal Tax Authority

360 DEGREE ASSESSMENT: 

Analyze the features of your existing E.R.P to identify the Gaps and List them in order to Fix and make it VAT Compliant.

 

SETTING UP OF VAT Compliant E.R.P

Provide technical plan and guidance to the client E.R.P/IT Team to red design their existing solution VAT Compliant; incorporate input, output, zero, exempted tax components, coding of inventory/service, invoice customization, linkage to the Tax Payment Gateway and design all VAT accounting reports.

HELP YOU TO SET UP  VAT MODULE

Which could be Interfaced or Integrated to your Applicaiton or by chosing  Readymade or Customized ERP. Ranging from Single User to Multi User, Mutl currency and Multi Conpany features.

HELP YOU TO CHOOSE THE RIGHT E.R.P WHICH IS VAT COMPLIANT;

·       SAP

·       SAGE X3

·       Oracle (FinancialForce)

·       Microsoft Dynamics GP

 

OFFER  RETAINER SERVICES- VAT ACCOUNTING and or VAT EXTERNAL AUDIT

Conducting periodical ( Monthly/Quarterly) visits at Client premises to complete VAT Accounting; Taxable Inventory, Input Tax payable, Paid, Balance, Output payable, Paid, Balance, Tax Return provisions, Refund Due, Received, Balance etc.

Act as TAX/VAT AGENT

Acting as Registered Tax Agent for submission/Filing of periodical Tax Returns, Refund/Claim Requests, Appeal submission, Client representation in case of Disputes/cases with F.T.A, Tax Appeal, Client employee training on Agency services.

Other Services

  • Audit

  • Retainer - Accounting and Financial Reporting

  • Fixed Asset Audit

  • Temporary or Contract Staffing

  • Banking Advisory and Private Investment

  • Pay Roll Process and Out Sourcing

  • Business Advisory and Management Consulting

  • Business Process Management (BPM)

  • BPO-Process Out Sourcing

  • Formation of Companies or On Shore and Off Shore

Our Location

Accounts Middle East,
P O Box : 64003,
Suite 903, Al Hawai Tower,
Sheikh Zayed Road,Dubai,
United Arab Emirates.
Phone: + 971 4 3434784