With the beginning of VAT in the UAE, meeting VAT commitment has been and persists to be an enduring test for businesses with current modification in the resulting tax regime. With time, VAT legislation will possibly to undergo regular changes, which will impact businesses in the UAE.

Further, VAT will be implied with the change in business condition, such as the start of innovative services, new dealings being part of business, or with the transformation of supply-chain configuration. All these will warrant a review of existing tax structure and relevant advice from the viewpoint of VAT affecting cost-saving strategies, pricing, VAT administration and suitable measures to stop the erosion of the bottom line.

Since all the ability connected to VAT may not be obtainable to businesses in-house, it is decisive that the businesses in their interest partner with qualified, experienced and supportive partners, who can advise in all VAT related matters in a timely and effective manner.

Specialists can provide client-focused advisory services on VAT-related matters. Professional dedicated VAT team can provide a range of VAT services. Conducting a health check to review the current tax position of the business and provide relevant VAT advice is one of the services available at the UAE. The professional Accounting firm can assist with a range of VAT related issues, including all aspects related to VAT compliance.

VAT Transaction Advisory Services in the UAE may include the following:

  • Carry out health checks of the existing tax positions and provide associated advisory;
  • Review the systems for internal controls and procedures including documentation evaluation;
  • Drafting of reply, providing clarification to FTA – Seeking the correct VAT impact for the proposed transactions;
  • Provide Retainership Services in terms of continuing advisory services to appraise the clients regarding updates on recent changes in the VAT Law in the UAE and provide assistance to comply with the same etc.
  • Train in-house personnel with matters related to the latest VAT rules/law.

VAT has an impact on every transaction for the business and plays a major role in cash flow. 

VAT Advisory Service in UAE has gained significance of late. It also deals with the matter related to payables, VAT return and foreign VAT, reviews in assisting its clients to identify their VAT debits, thus corroborating that their systems are very competent as well as their tax coverage is perfect.

It also deals with local tax authorities, assisting tax authorities regarding audits.

VAT Advisory Service executes corporate agreements. GCC Filings is an organization that performs activities like upgrading the account, financial coverage, mounting the accounting rules, looking after account records for investment, businesses, etc. In the field of ‘’account outsourcing,’’ their contribution is beyond question and they perform these activities with absolute expertise and proficiency.