Overview of VAT

VAT is the most common type of consumption found in the world; more than 150 countries have applied VAT. VAT is an integral part of GDP of any country. This is an indirect form of tax that is given to customers by the government, but by the merchants of the producers or the goods.

This will help the area reduce dependence on oil and other hydrocarbon products as a source of revenue. It is agreed by all GCC countries that VAT will be introduced in the latest in each country till January 1, 2019. However, United Arab Emirates decided to implement VAT on January 1, 2018.

Who needs to register?

For every taxable person living in the United Arab Emirates and the annual supply of the United Arab Emirates is expected to be worth or more, then the UAE has to register for VAT. For VAT registration in the United Arab Emirates, the total value of the taxable supply made for the current month and the annual supply in the last 11 months will be considered. In addition, the expected value of the supply for the next 30 days will be considered whether the annual supply will exceed the limit.

Standard accountants are a Tax Specialist offering VAT Consultancy, VAT Advisory and VAT Implementation Services in the United Arab Emirates.

Service offering:-

  • VAT and service tax registration
  • Monthly / Quarterly calculation of monthly / quarterly / half yearly calculation of VAT liability and service tax liability
  • Online admission of VAT and service tax returns
  • Tax Advice and Counselling to Optimize Your Tax Liability
  • Receive reminder to comply with the scheduled dates

VAT returns filing process:

  1. Provide your details and call back to discuss your tax status
  2. Email your Tax Documents to the Expert on Confirmation of the Service
  3. Prepare for your return efficiently and pay fees to be filed by our specialist
  4. Year-round access to your tax specialist

Whether you are already a customer or new to Standard accountants, you can do cost effectively and quickly follow the GCC VAT agreement. We advise the client on conducting training and on the effect of VAT on their business. We provide VAT enactment services around Emirates

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