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VAT ADVISORY SERVICES

The introduction of Value-added tax (VAT) is expected to bring about many changes in the way business in conducted in the UAE and other GCC Countries.All businesses must undertake a review of their current business practices to determine if VAT has been appropriately addressed. Businesses will need to incorporate VAT into their accounting systems and will need to keep accurate records for any inspections by the authorities. Further, non-compliance with tax laws attracts severe penalties.We, at TaxPro Consultants, assist our clients to get acquainted with the new system or revamp their financial systems and operating structures to a VAT Compliant environment.

VAT Implementation

Transition to a VAT Compliant Environment

We will extend our services in the following areas:

  • A detailed study of all the transactions streams of the Company and define those that will be come under the purview of the VAT regulations.

  • Review the existing accounting and book-keeping system and recommend the steps necessary for a smooth transition to a VAT compliant environment.

  • Preparing a VAT implementation plan and roadmap.

  • Review of jobs/contracts currently being executed and its treatment post VAT implementation.

  • Assessing the effect of VAT implementation on the Cash flows and profitability of the Company

VAT Registration

Get Registered

We will provide the following services to our clients for the registration of their businesses:

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  • Design the VAT Registration Structure (Group or Single) by understanding the legal structure, inter-company transactions and other relevant information

  • Assistance in furnishing the specific information required at the time of registration

  • Preparation of financial statements for the 12 months period.

  • Filling up of Online VAT Registration Application

VAT Return Filing

Be VAT Compliant

​Our services related to the filing of VAT return include the following:

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  • Assisting the accounts team for the timely finalization the books of account.

  • Review of VAT related Accounting.

  • Ledgers/reports like Input VAT, Output VAT, VAT under Reverse Charge Mechanism, VAT Payable.

  • Ensure the correctness of the VAT related calculations.

  • Arriving at the Net VAT Payable/VAT Refundable amount.

  • Assistance in Filing of VAT return onto the FTA portal.

Interested in getting advice from an experienced and professional Tax Consultant? Call us and see what I can do for you.

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