VAT

VAT

The U.A.E Government has implemented Value Added Tax with effect from January 01, 2018. All the businesses may not be geared up to meet the requirements of the VAT Law. It is imperative that the businesses get expert services to enable themselves to be VAT compliant. Our pre-implementation service includes the following:

VAT Registration

  • Provide assistance with registration of business entities individually or as a group

Business Impact Analysis

  • This includes assessing the VAT readiness of the entity and implications of VAT on business transactions
  • Identifying gaps in the existing system
  • Mapping of transactions based on the VAT Law
  • Studying the impact on working capital

VAT Implementation & Transitional Support

  • Structuring transaction flows and helping to create operating model for the entity
  • Assist in aligning business practices with VAT regulations
  • Handholding through initial phase
  • Selection of accounting software

Transaction Advisory

  • Provide guidance for industry specific transactions
  • Provide guidance for treatment of international transactions & its VAT implication
  • Recommending best business practices prevailing in the industry
  • Advising and developing transaction flows

VAT Compliance

  • VAT Health check-up
  • Submission of VAT returns
  • Guidance in preparation of books of accounts and other accounting records as per VAT Laws

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