Value Added Tax (VAT) is an indirect tax in the United Arab Emirates that applies to every step of your business supply chain. The introduction of value-added tax (VAT) return filing in Dubai requires that your business complies with stringent legal regulations related to VAT. If you are looking for VAT consultancy services in Dubai. Then, we at Taskmaster are here for you, we provide you with the best VAT Services. We are professionally understanding the laws of the tax system.
VAT Consultancy Services We Provide
We provide you with the best VAT consultancy services in Dubai that are mentioned below:
- VAT Advisory Services: We provide relevant advisory services as per the industry requirements to find suitable solutions. We can provide you the VAT advice on the transactions and guide you on how VAT can impact your business.
- VAT Return Filing Services: We support businesses in the United Arab Emirates to file VAT return form 201. All essential guidance to cover input VAT and output VAT and computation of the tax liability will be checked based on the information to comply with the VAT rules and regulations. Also, the previously submitted VAT returns can be reviewed and if any errors or defaults are found, suitable guidance can be given in the case.
- VAT Registration: An independent examination of the books of accounts and many tax records is cited by the authorities concerned to ensure proper compliance with tax laws by the authority concerned with ax audit and to curb illegal tax practices in the economy.
- VAT Training: We provide complete training to our client’s employees in the UAE so that they are fully equipped to handle all accounting processes and compliance related to VAT. We help you to establish a fully functional VAT comprehensive accounting system and also incorporate VAT clauses in existing contracts and assure their effect on the business.
- VAT Transaction Advisory: VAT transaction advisory services are about guiding your business in relation to specific business transactions. This may be more relevant for companies with complex transactions, products, and branches. Our experts are up to date with current developments and able to guide and advise you on VAT-related matters.
- VAT Deregistration: if the application is not submitted within the deadline, then VAT designation can cost your business. we can help your business to apply for tax registration number cancellation and make sure that the whole procedure is running smoothly.
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Responsibilities of VAT Consultants
The duties of a VAT consultant can vary according to the circumstances of a case. Some of the main responsibilities of a VAT consultant include:
- Accounting sorted and organized bookkeeping
- Meeting the VAT filing requirement
- Making sure compliance with UAE federal regulations
Why Should you hire a VAT consultant?
Several companies are not familiar with the laws and regulations of the process of calculating and paying VAT. Companies should look for the guidance of the best VAT consultants in the United Arab Emirates, rather than grappling with complex numbers, complex formulas, and incorrect calculations. Other reasons for appointing a VAT consultant are given below:
- Superior Knowledge: The VAT consultants come with better knowledge about everything related to VAT. This proves particularly beneficial for those who have no knowledge about VAT. Those consultants who are well-versed in VAT rules and regulations will be able to educate taxpayers about the various rates of VAT and the correct way of calculating payments.
- Accuracy: VAT consultants make the extra effort to make sure that each VAT entered is cross-checked for accuracy. The information goes through the help of a fully digital system as well as manual reviews. This is the way to maintain the accuracy of data.
- Experience: An experienced VAT consultant, who has been in the industry for a long time, is able to avoid common mistakes made during the VAT return/ filing procedure.
- Facilitate easy VAT Registration: VAT registration is compulsory for businesses if the value of their taxable supplies exceeds the threshold limit. The VAT consultants offer guidance on VAT registration in Dubai and the procedural formality document required for the registration of VAT.
- Time-Saving: The reason for hiring a VAT consultant is that it reduces the time required for analyzing, assessing, and measuring the risks associated with the company.
- Audit Ready Records: They also help to prepare files and maintain records properly to be ready for VAT audits.
- Reduced Risk: The VAT consultants have rigorous industry experience in dealing with all types of risks in business. A VAT expert can advise on the best options available to a company to reduce the potential risks related to VAT.
- The Improved Process of Finance: Financial work and activities demand active consideration. This is always better to look for expert services for opinions about finance.
Our VAT consultants at Taskmaster are experts in providing the best VAT consultancy services in Dubai.
Why Choose Taskmaster?
Taskmaster is a platform that has worked in providing taxation and accounting services for start-ups and setting up businesses at a global level. We have a vast number of satisfied customers globally, ranging from small and medium to multi-national businesses. We are providing the best VAT consultancy services in Dubai.
If you are looking for a VAT consultant, then you can contact us. To make your move towards VAT filing, contact us, and we will be happy to assist you.
Frequently Asked Questions on VAT Consultancy Services in Dubai, UAE
Does VAT apply to consultancy services?
The consulting services would be taxable supply in case the consultant is a registered VAT vendor, and consequently, any consideration paid in respect of or in response to the supply of the consulting services would be subject to VAT.
What does a VAT consultant do?
Make sure VAT compliance with complete reporting. Make sure minimization of the VAT liability. Identifying hazards and possibilities with Due Diligence tax planning. Liaising with HMRC for all audits, inquiries, and documentation.
Is VAT applicable to consultancy services in the UAE?
The UAE applies to VAT on tax-registered businesses at a rate of 5% on a taxable supply of goods or services at each move of the supply chain.
What is the VAT rate for consultancy services?
The VAT rate is the same for each business that is running in the United Arab Emirates. Taskmaster professionals will guide you on the VAT rates of your business services.
Should I charge VAT on services?
Non-residents who make taxable supplies in the UAE would be needed to register for VAT unless there is any other UAE resident who is liable for accounting for VAT on these supplies.