VAT ACCOUNTING & BOOKKEEPING SERVICES

VAT Accounting & Bookkeeping Services

The imminent implementation of VAT in UAE on 1 January 2018 is sending people into preparation for VAT registration and accounting.

Why Outsource Value Added Tax Accounting to VAT Consultants?

VAT accounting requires meticulous documentation. Records are expected to be kept by organizations for checking by the government. Procedures and controls should be applied before even starting to face the VAT regime for your company’s own assurance that VAT will almost always be accounted for accurately.

VAT accounting requires meticulous documentation. Records are expected to be kept by organizations for checking by the government. Procedures and controls should be applied before even starting to face the VAT regime for your company’s own assurance that VAT will almost always be accounted for accurately.

Enquire for VAT Accounting Service

For the accounting departments in every organization in the UAE, it will take some time to get used to with what the VAT regime will bring with it. VAT accounting will surely push companies to be more aware of all the schemes that should be learned in order to properly account for VAT and take care of other VAT affairs, such as tax filing. It is not advisable for VAT to be taken lightly since penalties are heavy for entities that are not complying with the tax laws, which have been released by the government.

A help from a VAT consultant in Dubai comes into the picture in this scenario. Assistance will definitely give substantial aid to the businessmen who are not used to having to deal with VAT, especially in this country. There are a number of VAT affairs that need to be understood in order to be handled. A VAT consultant in Dubai from Gamil Mohamed & Co. will advise you on what methods you should learn and which to apply for you to manage effectively. Letting you know of the required documents that you should submit and the things that you should be doing to comply with the new laws for tax in UAE, among many others, is also their job. Regardless if you are a small- or medium-sized company, it is essential that accounting and financial reporting are organized. This can’t be done overnight and needs time from your side to ensure accuracy for proper execution. With these things in mind and taking care of the rest of your company, it is not an easy task to manage.

VAT consultants in UAE aim to always check if the clients are in compliance with the tax laws. Their goal is to ensure that any question or concern with regard to VAT is answered and taken care of because VAT accounting is not an easy concept to absorb, and it is their job for you to comprehend it more.

VAT Consultancy Services in QATAR

 

All that you need to be handled with regard to VAT accounting, such as necessary amendments of a company’s accounting system, reviewing of tax reports, technical support with accounting, tax filing, tax calculations, etc., can be handled by FAR – Farhat Office & Co. We are capable of assisting you in all of them or doing them on behalf of you. As mentioned above, there are a couple of accounting schemes that can make VAT accounting easier. Using those VAT accounting procedures can simplify VAT accounting. We can also help you in applying those or developing your own style of dealing with VAT to make it less complicated. We are intentionally achieving to satisfy your needs by giving you a quality service.

VAT consultancy services can be found everywhere, and Farahat & Co. is one of the best VAT consultants in UAE. With our experience that is more than 30 years of being in the business industry, we are completely knowledgeable about the processes needed and what our clients need. We can anticipate any problems that could arise in certain situations. With us, you can be sure that we know where you’re coming from with the dilemmas that you lay on the table for us to fix, and we can always find the answers to those. The exceptional accounting services and bookkeeping services that you are looking for are offered by us since we are also one of the best auditing firms in Dubai. Some of the top CPAs in Dubai handle our payroll and HR solutions service. Having various capabilities, we also take care of deregistration of company and conduct forensic accounting in Dubai. In times that a startup needs trademark registration in Dubai, we handle that as well.

Being one of the leading accounting firms in Dubai, we can manage the accounting and bookkeeping side of your organization. The same CPAs are also part of our project developers audit and work hand-in-hand with our auditors for Owners Association in Dubai. To find out for yourself that we are indeed one of the best companies to offer VAT consultancy services in Dubai, you can book a free consultation with us anytime you’d like.

VAT Consultancy Services in UAE

 

All that you need to be handled with regard to VAT accounting, such as necessary amendments of a company’s accounting system, reviewing of tax reports, technical support with accounting, tax filing, tax calculations, etc., can be handled by GM Firms – Gamil Mohmed Office & Co. We are capable of assisting you in all of them or doing them on behalf of you. As mentioned above, there are a couple of accounting schemes that can make VAT accounting easier. Using those VAT accounting procedures can simplify VAT accounting. We can also help you in applying those or developing your own style of dealing with VAT to make it less complicated. We are intentionally achieving to satisfy your needs by giving you a quality service.

VAT consultancy services can be found everywhere, and Gamil Mohamed & Co. is one of the best VAT consultants in UAE. With our experience that is more than 30 years of being in the business industry, we are completely knowledgeable about the processes needed and what our clients need. We can anticipate any problems that could arise in certain situations. With us, you can be sure that we know where you’re coming from with the dilemmas that you lay on the table for us to fix, and we can always find the answers to those. The exceptional accounting services and bookkeeping services that you are looking for are offered by us since we are also one of the best auditing firms in Dubai. Some of the top CPAs in Dubai handle our payroll and HR solutions service. Having various capabilities, we also take care of deregistration of company and conduct forensic accounting in Dubai. In times that a startup needs trademark registration in Dubai, we handle that as well.

Being one of the leading accounting firms in Dubai, we can manage the accounting and bookkeeping side of your organization. The same CPAs are also part of our project developers audit and work hand-in-hand with our auditors for Owners Association in Dubai. To find out for yourself that we are indeed one of the best companies to offer VAT consultancy services in Dubai, you can book a free consultation with us anytime you’d like.

VAT Consultancy Services in SUADI ARABIA

 

All that you need to be handled with regard to VAT accounting, such as necessary amendments of a company’s accounting system, reviewing of tax reports, technical support with accounting, tax filing, tax calculations, etc., can be handled by GM Firms – Gamil Mohamed & Co. We are capable of assisting you in all of them or doing them on behalf of you. As mentioned above, there are a couple of accounting schemes that can make VAT accounting easier. Using those VAT accounting procedures can simplify VAT accounting. We can also help you in applying those or developing your own style of dealing with VAT to make it less complicated. We are intentionally achieving to satisfy your needs by giving you a quality service.

VAT consultancy services can be found everywhere, and Gamil Mohamed & Co. is one of the best VAT consultants in UAE. With our experience that is more than 30 years of being in the business industry, we are completely knowledgeable about the processes needed and what our clients need. We can anticipate any problems that could arise in certain situations. With us, you can be sure that we know where you’re coming from with the dilemmas that you lay on the table for us to fix, and we can always find the answers to those. The exceptional accounting services and bookkeeping services that you are looking for are offered by us since we are also one of the best auditing firms in Dubai. Some of the top CPAs in Dubai handle our payroll and HR solutions service. Having various capabilities, we also take care of deregistration of company and conduct forensic accounting in Dubai. In times that a startup needs trademark registration in Dubai, we handle that as well.

Being one of the leading accounting firms in Dubai, we can manage the accounting and bookkeeping side of your organization. The same CPAs are also part of our project developers audit and work hand-in-hand with our auditors for Owners Association in Dubai. To find out for yourself that we are indeed one of the best companies to offer VAT consultancy services in Dubai, you can book a free consultation with us anytime you’d like.

VAT Consultancy Services in EGYPT

 

All that you need to be handled with regard to VAT accounting, such as necessary amendments of a company’s accounting system, reviewing of tax reports, technical support with accounting, tax filing, tax calculations, etc., can be handled by FAR – Farhat Office & Co. We are capable of assisting you in all of them or doing them on behalf of you. As mentioned above, there are a couple of accounting schemes that can make VAT accounting easier. Using those VAT accounting procedures can simplify VAT accounting. We can also help you in applying those or developing your own style of dealing with VAT to make it less complicated. We are intentionally achieving to satisfy your needs by giving you a quality service.

VAT consultancy services can be found everywhere, and Gamil Mohamed & Co. is one of the best VAT consultants in UAE. With our experience that is more than 30 years of being in the business industry, we are completely knowledgeable about the processes needed and what our clients need. We can anticipate any problems that could arise in certain situations. With us, you can be sure that we know where you’re coming from with the dilemmas that you lay on the table for us to fix, and we can always find the answers to those. The exceptional accounting services and bookkeeping services that you are looking for are offered by us since we are also one of the best auditing firms in Dubai. Some of the top CPAs in Dubai handle our payroll and HR solutions service. Having various capabilities, we also take care of deregistration of company and conduct forensic accounting in Dubai. In times that a startup needs trademark registration in Dubai, we handle that as well.

Being one of the leading accounting firms in Dubai, we can manage the accounting and bookkeeping side of your organization. The same CPAs are also part of our project developers audit and work hand-in-hand with our auditors for Owners Association in Dubai. To find out for yourself that we are indeed one of the best companies to offer VAT consultancy services in Dubai, you can book a free consultation with us anytime you’d like.

Frequently Asked Questions About VAT

 
What is VAT?

Value added tax (VAT) is a type of tax that is applied to the goods or services produced. It is also known as a multi-stage tax. The governments has decided to implement this types of tax to have an additional source of revenue to provide a better service to the citizens.

Who should register for VAT?

As per the Egypt Laws,All commodities and services would be subject to VAT, with the ability to offset VAT previously paid on inputs of such commodities and services so that the final consumer ultimately bears the tax. A producer or importer of any commodity listed in the table attached to the VAT Law will remain registered, regardless of its transaction volume, as will importers of taxable commodities

Companies with annual turnover of 500,000 Egyptian pounds (EGP) or more are required to register for VAT purposes. Others may register voluntarily. A registrant that meets the threshold required for registration will maintain its registration number under the previous general sales tax.

A producer or importer of any commodity listed in the table attached to the VAT Law will remain registered, regardless of its transaction volume, as will importers of taxable commodities.

As per UAE Laws ,the criteria released by the Federal Tax Authority, all businesses with taxable supplies worth more than AED 375,000 need to register for VAT.

Which businesses can voluntarily register for VAT?
As per the Egypt Laws,Companies with annual turnover of 500,000 Egyptian pounds (EGP) or more are required to register for VAT purposes. Others may register voluntarily. A registrant that meets the threshold required for registration will maintain its registration number under the previous general sales tax.
 
As per the UAE Laws, All businesses with taxable supplies worth more than AED 187,500 and less than the mandatory registration threshold of AED 375,000 may opt for voluntary registration for VAT. This option is developed to give the opportunity for startup businesses to register for VAT whilst they still haven’t generated any revenue.
When is the VAT registration and VAT implementation date?
Starting on 1 January 2018, VAT will be implemented in the UAE. All businesses that are operating in the UAE are expected to be registered by then or penalties will be faced.
What will be the VAT rates?

As per the UAE Laws, The standard VAT rate of 5% is agreed to be charged on certain goods and services in the UAE. Non-taxable goods and services will not be charged, such as health, education, and local transport, etc.

Does VAT Registration make non-residents reliable?

As per the Egypt Laws,The VAT applies at the rates of:

  • 13 percent until 30 June 2017
  • 14 percent, starting on 1 July 2017
  • 5 percent on machinery and equipment used to produce a commodity or render a service
  • 0 percent for exports.

As per the UAE Laws, Non-residents or tourists will pay VAT at the point of sale. 5% VAT will be applied to perfumes, makeup, luxury bags, and big-ticket items additional of the sale price. There can be an exemption wherein there is a requirement for a certain business to use a reverse charge mechanism for the purchases from any non-resident when accounting for VAT.

What if I did not register my business for VAT?

As per the Egypt LawsBusinesses required to register under the new VAT law that do not file their application on time will be registered automatically by the ETA and considered as defaulters with all the consequences applicable under the provisions of the new law.

As per the UAE Laws, With the Cabinet Decision No. 40’s release, the violations for non-compliance and respective penalties are all listed in its provisions. Consumers may also lose confidence in the business that does not comply with the laws of the land, hence the impending sinking of the business.

In the case that my business falls in all the exempted categories, what is the impact of it?

As per the UAE Laws ,All businesses that have exempted supplies as goods shall not charge from their customers. VAT cannot be claimed as well on purchases made.However, all businesses that have partially exempted supplies as goods shall register for VAT. The VAT incurred can be claimed as well on taxable supplies

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