Value Added Tax or VAT is considered to be a general tax imposed on the majority of the transactions of goods and services in UAE. The rate of VAT calculated in the UAE is 5%. For example, if the marketing price of the goods or service is AED 300 then, the rate is calculated as 300 x 5% = AED 15.00. The tax is not charged on the businesses and they can reclaim their money spent on VAT during any transitions. The end-users are the ones who have to bear the VAT. Across the globe, nearly 160 countries have imposed VAT. Therefore, there is a great need for a capable VAT service, and so the number of VAT consultants in Dubai has increased.
For enquiries, call +971 45 570 204 / E-mail: [email protected]
At the end of every tax period, the taxable individuals must file a VAT return. Even though the UAE VAT filing is done electronically, all the essential records and documents must be retained. The VAT is charged equally in the UAE shore and in the free zones. VAT returns must be filed before the deadline and effective VAT consultants in Dubai would ensure that the filing is done beforehand.
A business entity present in Dubai must undertake the VAT registration process. The registration of new VAT in UAE is done through the FTA website with a new account. They also provide details and guidelines which is more beneficial for the people filing VAT.
VAT filing has an extremely important impact on the business’s economy, management, and finance.
Any new or existing business firms would require VAT consultants, who will be able to make them understand and render services for calculating VAT. The VAT consultants like the KGRN comprehend the needs of the business and provide the best VAT services in Dubai, they also help to dodge any mishaps caused in filing VAT.
For enquiries, call +971 45 570 204 / E-mail: [email protected]
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