Finding it difficult to understand the detailed VAT rules and how it works?
Need help in getting registered and filing returns?
We at AGX Auditing, are here to help you plan, manage and adapt to the tax environment in UAE. VAT has been implemented in the UAE from January 01, 2018 and still a large majority of business entities are unaware about the nuances and implications of the regulations.
All business entities must register for VAT if their taxable supplies and imports exceed the mandatory registration threshold of AED 375,000 in 12 months. Furthermore, a business may choose to register for VAT voluntarily if their supplies and imports are less than the mandatory registration threshold, but exceed the voluntary registration threshold of AED 187,500. Hence there is no avoidance of the VAT implications if you are operating in U.A.E and it is also of the utmost importance that one understands the reporting requirements of the Federal Tax Authority so as to avoid fines and penalties. AGX have been keenly following the VAT regulations since it’s implementation as well as all the subsequent clarifications and amendments to the laws. We are able to undertake the following responsibilities along this matter:
- VAT registration and de-registration
- VAT filing
- VAT training
- Verification of books of accounts and invoices to ensure VAT adherence
- VAT penalty reconsiderations
Having catered to the VAT requirements for a wide array of businesses operating in UAE, we are aware about all possible clauses which your business may be subject to and can advise how to ensure that the same is effectively implemented.
Contact any of the team at AGX Auditing to learn more about VAT. Allow us to make VAT easy.