Understanding Value Added Tax in the UAE

VAT is paid for in a continuous system that begins from producing raw materials up until the delivery of the manufactured product to the consumer. This also applies to services rendered. Thereby, the product value increases throughout the chain. Raw material producers sell the materials with a 5% VAT to the manufacturers who do the same when selling to the wholesaler, who sells to the retailer, and, ultimately, the consumer. As each of them sells their product with a 5% VAT, they are required to pay VAT.

Our VAT Service Inclusions

VAT Registration

Our reputed VAT firm facilitates the registration of your company with the FTA, which in turn ensures you abide by the law, avoid paying penalties, and gain credibility for your company. We also help you stay updated with re-registration requirements by regularly checking for changes.

VAT Return Filling

Towards the end of every tax season, you should file a VAT return. This should be done within 28 days. It is quite a simple VAT online process; however, failure to do so within the stipulated time can result in fines or penalties. Here is where our VAT consultant steps in and helps with your VAT return filing process.

VAT Consultancy

AKM accounting is a reputed VAT consultant in Dubai. We will provide you with a dedicated VAT consultant who will work closely with you to understand your requirements and offer feasible solutions. Together, we aim to provide you with convenience and ease the burden equipped with the requirements and responsibilities of VAT.

VAT Impact Studies

It is essential to acknowledge the impact VAT has on the structure and overall functionality of a business. Failure to pay the VAT or register your company at the FTA is detrimental to the success of your business. We will provide you with a personal tax account to handle all your VAT payments and keep you updated with the latest rules and regulations.

VAT Accounting

VAT also affects the accounting department of your business. In order to run a smooth business and abide by the VAT regulations in UAE, your books need to be integrated with VAT affairs. Our professional and adept VAT accounting team are hands on to assist you with VAT accounting needs.

VAT Training

Every business needs to have first-hand knowledge of VAT and its importance. The success of the company relies on whether they pay their taxes and if the business integrates VAT in their sales and purchases. Therefore, as a leading VAT consultant in Dubai, we aim at offering VAT training to all your employees, ensuring they are up to date with all the amendments and current regulations.

VAT Implementation

Once a business’s expenses reach a certain level, it becomes mandatory to pay VAT. Thereby, the company needs to implement the tax in its transactions to receive VAT for goods sold and pay VAT for goods purchased. As an experienced VAT firm in Dubai, we can efficiently handle VAT implementation for your business.

How We Help

At AKM accounting, we offer VAT accounting services across Dubai, helping companies stay up to date with their VAT registration, designing business accounts according to FTA requirements, and filing VAT returns. Our offerings also include filing for VAT refunds, calculating the required Value Added Tax on all sales, and correcting mistakes in VAT forms. We also update your business records and ensure all your documents abide by FTA regulations.