The UAE introduced Value Added Tax (VAT) in 2018, mandating businesses with taxable supplies exceeding AED 375,000 to register with the Federal Tax Authority (FTA). These businesses must charge a 5% VAT to customers, and after offsetting input tax, they are obligated to remit the resulting amount to the FTA through quarterly filing of VAT returns.
The compulsory registration and quarterly filing requirements have generated a demand for trustworthy and experienced tax agents and consultants. Businesses seek professionals to manage their comprehensive tax matters, encompassing, but not limited to, the following:
- VAT registration process.
- Review of vatable activities and VAT returns filing.
- Applications for VAT refunds.
- Application for reconsiderations.
- Filing of Voluntary Disclosures on behalf of the entity and consistent follow ups with FTA.
- • VAT related transactional advisory.