VAT Consultants in Dubai, UAE

Value-added tax (VAT) was introduced in the UAE in 2018. It is applied to calculate and charge tax on the sale of all goods and services, including food items, healthcare, education, professional services, etc. Understanding the VAT procedure can be difficult for most of us; therefore, businesses dealing with tax-related issues can directly contact VAT consultants in Dubai. The Federal Tax Authority, the chief regulatory authority for UAE taxation, has announced that all businesses whose annual revenue is AED 375,000 or more must register for VAT. All tax payments need to be cleared within the due date.

Therefore, to ensure the legitimacy of your payments, you must maintain an accurate record of all invoices, VAT returns , accounts, and any other significant proceedings at the time of purchase. Since introducing VAT in the UAE, Shuraa Tax Consultants and Accountants have been the leading VAT consultants in Dubai.

From providing the best professional services to ensuring your business complies with the latest UAE fiscal laws and regulations, Shuraa Tax is your friend and guide for your financial needs. Companies will need VAT consultants in UAE because they will guide them through the entire VAT process, including VAT liabilities and the VAT implications of the transactions that businesses undertake for their business.

What Do VAT Consultants Do?

VAT consultants in Dubai play a crucial role in helping businesses manage their VAT obligations. They assist with VAT registration, ensuring companies know if they need to register and guiding them through the process. They also help businesses comply by filing VAT returns on time and keeping accurate records.

Additionally, these consultants advise on VAT-related matters, helping companies minimise their tax liabilities. They can also assist during VAT audits and offer training to staff on VAT procedures. In short, VAT consultants in Dubai help businesses handle VAT smoothly and avoid penalties.

Key Services Offered by VAT Consultants

• VAT Registration: Helping businesses determine if they need to register for VAT and guiding them through registration.
• VAT Compliance: Ensuring businesses adhere to VAT regulations, including timely submission of VAT returns and accurate record-keeping.
• VAT Advisory Services: Offering expert advice on the VAT implications of various transactions, helping businesses optimise their tax liabilities.
• VAT Audits and Representation: Assisting with internal VAT audits and representing businesses during external audits by the tax authorities.
• VAT Return Filing: Preparing and filing VAT returns on behalf of businesses, ensuring accuracy and compliance with legal requirements.
• Training and Support: Training business staff on VAT processes and staying updated on VAT laws and regulations changes.

These responsibilities help businesses in Dubai effectively manage their VAT obligations, minimising risks and optimising tax positions.

Why do you Need a VAT Consultant in UAE?

A VAT consultant in the UAE is essential for businesses to navigate the complexities of Value Added Tax regulations. Here’s why you need one:

1. Expert Guidance

   VAT laws can be intricate and ever-changing. A VAT consultant provides expert advice, ensuring your business remains compliant and avoids costly penalties.

2. Accurate VAT Filing

   Consultants handle the preparation and submission of VAT returns, ensuring accuracy and timeliness, which reduces the risk of errors.

3. Compliance Assurance

   They ensure your business adheres to all VAT regulations, including proper documentation and record-keeping, safeguarding it from non-compliance issues.

4. Cost Efficiency

   By optimising your VAT processes, consultants help minimise your tax liabilities, leading to potential cost savings.

5. Audit Support

   In the event of a VAT audit, a consultant provides essential support, representing your business and ensuring smooth communication with tax authorities.

6. Focus on Core Business

   With a VAT consultant handling tax matters, you can focus on growing your business without worrying about the complexities of VAT.

A VAT consultant in the UAE is crucial for effective VAT management, allowing businesses to operate smoothly and efficiently in a regulated environment.

VAT laws in UAE

VAT is a consumption tax applied to goods and services, with the end consumer bearing the cost. In the UAE, VAT is imposed on tax-registered businesses at a rate of 5% on the taxable supply of goods or services at each stage of the supply chain. However, companies are responsible for collecting and accounting for VAT on behalf of the government.

Under the Federal Decree-Law No. 8 of 2017 and the Cabinet Decision No. 52 of 2017 on VAT, businesses in the UAE are required to register for VAT. The law applies uniformly to tax-registered companies operating on the UAE mainland and in free zones.

Choose from Diverse VAT Consultants in UAE

Our team of FTA-approved tax agents are not only experienced but also professional. They will collaborate to develop a tailor-made package specially curated for your business. Here are some of the top VAT services you will need for your Dubai business:

UAE Tax Agent Services

All businesses in the UAE need to be clear about VAT laws because of their impact on operations and transactions. Moreover, staying updated on UAE’s VAT regulations is critical to avoid getting penalties.

If you meet the eligibility criteria set by the FTA, Shura Tax can help you with timely VAT reporting and claim your VAT refunds. No matter your difficulties with the VAT laws, Shuraa Tax simplifies your finances.

VAT Registration Services

All business owners in the UAE, regardless of large organisations or individual-run businesses, must mandatorily complete UAE VAT registration as per the required criteria. Shuraa Tax Consultants & Accountants is the best VAT registration consultant in the UAE. They will assist you with the complete VAT registration process per the laws of the FTA.

This includes filling out the VAT registration form and configuring the online account on the FTA website . Our expert tax consultants will ensure all your accounts and documents are accurate. They will guide you through the complete process of UAE VAT registration, tax implementation, or any other necessary aspects to help your business grow.

VAT Compliance Services

As with VAT registration, all businesses must comply with the UAE's VAT laws. The UAE VAT registration and VAT return process mandates that you retain all important documents related to the business entity’s financial dealings, VAT returns, and more. It is not just enough to have an in-depth knowledge of VAT laws; it is also essential to know how to implement them. This is where you will need the services of experts like Shuraa Tax Consultants and accountants.

They offer affordable and trusted VAT compliance services while keeping you updated on all VAT laws and helping resolve compliance issues. Our professional team of experienced tax agents and advisors guide you through the VAT laws and the impact that they will have on your business operations.

VAT Return Filing Assistance

As per the UAE VAT regulations, all taxable entities must follow the VAT return filing procedure. The Federal Tax Authorities have a particular form that taxable persons must fill out within 28 days from the end of each tax period. If registrant companies or individual business owners cannot submit their VAT returns on time, they will be liable to pay hefty fines. Although the process for filing VAT Returns in the UAE may seem tricky or challenging to follow, it can be a breeze in the hands of suitable agents.

Shuraa Tax Consultants are certified and experienced tax agents based in the UAE listed with FTA, the UAE tax authority. Their team of advisors will go through your finances with a fine-toothed comb and, based on their findings, will provide customised solutions for your business. Submit your VAT returns in no time with Shuraa Tax.

VAT De-Registration Services

There is a specific eligibility criterion for VAT registration in the UAE VAT registration in the UAE. If businesses are not eligible to meet those requirements, they can apply for TRN cancellation to discontinue or mitigate the VAT registration process. UAE’s VAT laws detail various reasons why VAT registration in UAE can be cancelled.

Therefore, businesses that need advice on the VAT De-Registration Process can freely reach out to Shuraa Tax Consultants and Accountants for all VAT-related queries. As the leading VAT consultants in the UAE, we can take care of all tax & VAT management needs.

VAT Filing and Processing

To file your VAT return, you must do so electronically through the FTA portal at eservices.tax.gov.ae. Ensure all tax return requirements are met before submitting VAT Return Form 201 on the portal.

When are businesses required to file VAT returns?

Taxable businesses are required to file VAT returns with the FTA regularly, typically within 28 days of the end of the defined ‘tax period.’ The standard tax periods are:

• Quarterly for businesses with an annual turnover below AED 150 million
• Monthly for companies with an annual turnover of AED 150 million or more

What is Form VAT 201?

Form VAT 201 is used to complete the VAT return filing. It includes the following details:

• Details of the Taxable Person
• Period of VAT Return
• VAT on Sales and Other Outputs
• VAT on Expenses and Other Inputs
• Net VAT Due or VAT Payable for the Period
• Additional Reporting Requirements (For Profit Margin Scheme Applicants only)
• Declaration and Authorized Signatory

After accurately filling in all required details, click the submit button. You will receive a confirmation message from the FTA at your registered email address.

Additional Services We Offer:

Impact of VAT on Various Sectors in the UAE

Different sectors experience VAT differently in the UAE:

• Education Services: All educational services are zero-rated under Dubai VAT Law.
• Financial Services and Islamic Finance Products: Financial services and Islamic finance products are zero-rated, while other financial services incur 5% VAT under Dubai VAT Law.
• Transportation Services: Domestic and international transportation is VAT-exempt or zero-rated, except public and commercial transport for tourists, which incurs 5% VAT.
• Healthcare Services: Healthcare is zero-rated, except for non-listed medicines and medical equipment, subject to 5% VAT.
• Sale of Business: The sale or transfer of a business or part of it as a going concern is VAT-exempt under UAE law.
• Telecommunication & Electronic Services: Telecommunications and electronic services in Dubai are subject to 5% VAT, while exported services are zero-rated.
• Digital Marketing Services: All Services, including SEO, SEM, Email, and Social Media Marketing, are Subject to 5% VAT.
• Real-Estate Services: Residential properties are VAT-exempt during lease or sale.
• Financial Options: Debt and equity securities qualify as VAT-exempt financial services.

Why Choose Shuraa Tax as your VAT Consultant in Dubai, UAE?

Shuraa Tax Consultants & Accountants is your one-stop solution to securing your business’ finances in the UAE. From UAE Corporate Tax, VAT Registration and Consultancy, bookkeeping, Accounting, Company Auditing and more, Shuraa offers reliable solutions for all your financial needs. Our team consists of FTA-approved tax agents and certified Corporate Tax agents with several years of experience in UAE Taxation.

As a leading VAT tax consultant in the UAE, Shuraa Tax offers expert solutions to VAT-related issues across Dubai, Sharjah, and Abu Dhabi. With their extensive experience and deep expertise, they efficiently address VAT concerns, ensuring timely and practical assistance. Shuraa Tax stands out in the field by delivering its clients comprehensive and reliable VAT support.

Get in Touch with Us Today!

This is your opportunity to take advantage of limitless opportunities in the UAE without worrying about your financial health. Take advantage of Shuraa Tax's world-class services and our experts' knowledge.

So, take control of your business while leaving your wealth management to us. Watch your business grow and soar with Shuraa Tax Consultants and Accountants. Email: info@shuraatax.com Call: +971 508912062.