VAT Consultancy Services Dubai, Abu Dhabi, UAE – Taxation
With the introduction of VAT Law w.e.f. 1st January 2018 in UAE, all the Companies in UAE are now required to abide VAT law.
At TRC Pamco, we offer a complete set of services related to Value Added Tax (VAT Advisory Services), which includes:
- VAT periodical compliances
- VAT Health Check Services
- The Assistance of VAT Penalty Waiver
- VAT return Filing
- Double Tax Avoidance Advisory
- Tax Residency Certificate (TRC)
- VAT Refund Assistance
- Clarification And Exemption
- VAT Registration/De-Registration and Amendment
- Voluntary Disclosure
- Ultimate Beneficiary Owner (UBO) compliance
- Economic Substance Regulation (ESR) Compliance
TRC Pamco, one of the best VAT companies in Dubai has the experience necessary to help you to optimize your tax position. Since VAT compliance involves a complex process, choose an expert from our team of tax (VAT) professionals who know how to build a sustainable tax (VAT) strategy to make your organization tax (VAT) compliant.
What is the scope of VAT in the UAE in 2022?
If your total taxable supplies and imports exceed the mandatory registration value of AED 375,000 over the last 12 months or will exceed it in the next 30 days – you need to be VAT registered and compliance.
What are the things you need to follow?
- Maintain your VAT records. It is important to have the VAT records for at least 5 years. The documentation includes- the company’s supplies and imports of goods & services, tax invoices, credit notes, alternative documents, records of goods and services for which no input tax has been deduced, records of goods and services exported by the company, any adjustments or corrections made on tax invoices, and more.
- The VAT returns should be filed in a timely manner. The FTA allows for quarterly tax periods, in which the returns must be filed to avoid deductions and penalties. Given the change of weekends in the UAE – it’s important to be in touch with your VAT consultants in the UAE to ensure compliance.
- In case of any payable taxes, VAT registrants must settle it on the return filing date, to avoid delayed payments. It’s best to stay on top of your VAT filings and pay your taxes well ahead of the due dates.
- Some of the goods and services carry a 0% VAT rate, which includes international transportation, investment-grade precious metals, some education & healthcare services, and more. Your VAT filing consultants in the UAE can guide you on this topic.
If you’re looking for VAT consultancy services in Dubai, Abu Dhabi, and UAE – don’t hesitate to reach out to our team!