Value Added Tax (VAT) is an indirect tax. This type of tax is collected incrementally and referred to as general consumption tax. It is a tax that is derived from value added to the production or sales/distribution stages and in most cases, it is a tax that is destination-based. In some countries, it is referred to as GST – Goods and Services Tax.
AGX auditors manages successful Value Added Tax reclaim programs for many corporate and academic clients. To effectively evolve into tax payable systems, companies need to take a number of measures. Some of these measures include making reasonable assumptions in business plans based on its economic effect, assessing how its operating structure and supply chain is going to be affected by tax, financial system analysis to determine readiness, reassessment of contracts to reposition tax clauses etc.
- We will identify what needs to be addressed in your business by performing an impact review.
- Assess if there are any process changes needed by reviewing business processes and your business’ system of accounting.
- We are providing full-fledged assistance and advisory on VAT filing in UAE