Best VAT consultants in Dubai

VAT consultants in Dubai

Introduction:

Dubai, one of the seven Emirates of UAE, is the heart of the business center as it offers several trade-free zones. VAT, the current tax regime in Dubai came into effect on January 1st, 2018. Indeed, businesses and organizations whose taxable supplies and imports value exceeds AED 375,000 per annum are obliged to file their VAT returns and maintain records for future reference. Moreover, the standard rate is 5%.

Above all, KGRN provides VAT consultancy services in UAE. However, we help you maintain your organization’s book of records and provide assistance in filing your VAT returns. We also provide you with a wide range of services to help you fathom out your VAT related queries.

UAE VAT threshold limit:

value of supplies and imports exceeding AED 375,000mandatory to register under VAT
value of supplies and imports exceeding AED 187,500voluntary registration
value of supplies and imports below AED 187,500not required

VAT consultancy services we provide:

KGRN, one of the reputed VAT consultants in Dubai, provides a one-stop solution for all your VAT related issues. Meanwhile, some of the VAT consultancy services are as follows:

  • VAT registration 
  • VAT return filing
  • Maintaining a book of records
  • Accounting and management
  • VAT implementation
  • VAT auditing
  • Supplier and customer management

How is VAT consultancy done?

  • Registering your business under VAT if required
  • Assessing and evaluating your business structure
  • Reviewing important documents and contracts
  • Devising new investment plans and restructuring your business as required
  • Evaluating the average value of input and output tax, in order to improve tax efficiency
  • Assisting in VAT return filing and VAT compliance
  • Maintaining VAT invoices and book of records for future reference
  • Data accounting and management for forthcoming years

Why do I need VAT consultancy?

It is mandatory for every VAT registered business and organization exceeding the UAE VAT threshold limit to file their VAT returns accurately on a quarterly basis in order to avoid penalties. It is also necessary to maintain a book of records and your VAT filings to avail benefits like reclaiming your input tax etc… 

VAT consultancy with our experts at KGRN, one of the leading  VAT consultants in Dubai, will help you assess your organization and restructure it in a tax-efficient manner. Our experienced accountants, VAT consultants and tax-specialists will, however, guide you through your journey of becoming tax- efficient. Subsequently, our VAT registration consultants provide the necessary assistance to register your business within the VAT registration time frame.

How will VAT consultancy benefit my business?

  • Firstly, VAT consultants help you manage and maintain your records in an accurate manner without any mishaps.
  • Preferrable to opt VAT consultancy in order to ensure your company doesn’t face any legal issues for improper VAT compliance.
  • VAT consultants help you avail the maximum benefits by helping you reclaim your Input tax amount and by identifying suitable investment options.
  • VAT consultants also help you predict the financial challenges your organization might face during the process of VAT implementation.
  • You will also be able to acquire valuable legal advice and stay updated on the latest amendments by opting VAT consultancy.
  • VAT consultants help you restructure your business to make it more VAT efficient and VAT compliant.

Why KGRN?

KGRN is a reputed organization providing legal services and assistance. We provide VAT consultancy for businesses and organizations at an affordable price. Meanwhile, here are a few reasons why KGRN provides the best VAT consultancy service in UAE:

  • Our employees, consisting of the best VAT consultants in Dubai, work with extreme dedication to providing 100% customer satisfaction
  • Our services are available at an affordable price. Indeed, you can select a suitable package from the range of options available.
  • All your personal details are encrypted during transactions and all possible measures are taken to protect your privacy.
  • We always maintain our punctuality and promptness.
  • We are always ready to provide assistance – any time of the day, any day of the year.
  • Our team of experts always stay updated on the latest amendments and laws to pertain to our clients’ needs and requirements.

Frequently Asked Questions:

  1. Do I need to maintain a book of records for VAT?

Certainly, you will have to maintain your accounting books and records for a period of 5 to 15 years, as per the VAT legislation. Moreover, VAT invoices are to be present for a minimum of five years too.

  1. When are you suppose to businesses under VAT?

Any business whose value of supplies and imports exceeds AED 375,000 are required to register under VAT by submitting an application to the FTA within 30 days. Indeed, VAT registration consultants in UAE will assist you in registering your business within the VAT registration time frame.

  1. When will the refunds be released?

VAT refunds will be released once your application is cross-checked and verified by the officials.

  1. What is TRN?

Tax Registration Number (TRN) is a unique registration number that the FTA provides once you register your business under VAT. Meanwhile, it acts as an identification number and is mandatory for VAT return filing.

  1. What is the penalty for non-registration?
  • The penalty for non-registration or late registration is AED20,000.
  • Penalty for issuing invalid tax invoices and documents is AED50,000 per document.
  • The penalty for non-maintenance of records and documents is AED10,000. But, if repeated, the penalty can go up to AED 50,000. 

 



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