Tax Consultant in UAE
The United Arab Emirates (UAE) has entered into a world of Taxes with Excise Tax being introduced from 1st October 2017 and Value Added Tax (VAT) has been applicable from 1st January 2018. The introduction of taxes in the UAE is part of a GCC-framework to broaden horizons economically and discover other revenue-generating measures to reduce dependency on hydrocarbons. The Federal Tax Authority (FTA) is the government entity who is responsible for the administration, collection and enforcement of VAT in UAE. The FTA has made provisions to assist Taxable Entities in the UAE to comply with the VAT Law by means of a Tax Agent in UAE. We will understand in detail about Tax agents in the UAE and why is it important to appoint only registered Tax Agents as your Tax consultant in UAE .
Why it is advisable to hire a Tax Consultant in UAE?
Hiring a Tax Consultant in UAE can help the individuals as well as business concerns to advise on the taxability of transactions and to ensure that the business is complying with the UAE VAT Laws.
Business concerns in UAE are facing lot of challenges while understanding the tax structure and implementing the same in their business. Here comes the role of a tax consultant in UAE who can advise and support your business.
Understanding the UAE VAT Law and filing of the VAT Returns is a complex process. By Hiring a Tax Consultant in UAE in your firm, you can ensure that the VAT-related matters are taken care of. As Tax Consultant in UAE, they will be able to provide guidance and support to file the VAT Returns regularly, advise on the taxability of the transactions, and advise the firm on and all other industry-specific matters to ensure that the business is complying with the UAE VAT regulations.
How can a TAX Consultant in UAE support you?
- Assisting your business in VAT Registration including Tax Group Registration
- Providing VAT Advisory on any Tax issues
- Advising the client on the taxability of the transactions
- Support and Guidance for filing the VAT Return Filing in UAE
- Guidance on VAT administrative procedures like VAT Reconsideration and Clarification
- Representation before the Federal Tax Authority (FTA) on behalf of your business
- Conducting VAT Pre-Tax Audit (VAT Health checkup)
- Guidance on the submission of VAT Voluntary Disclosure Form 211
- Applying for the VAT Refund Form 311
If you have not hired a Tax Consultant in UAE yet, opt for a VAT health check-up
VAT Health checkup can also be termed as a Pre-Tax Audit in UAE which will be conducted by our tax consultants in UAE to ensure that all the VAT related matters are properly addressed in compliance with the UAE VAT laws. After a complete review, a report on the findings and guidance will be given if any changes in the Tax structure is required.
VAT Health checkup is a self-assessing tax and the responsibility of the taxable person to ensure that the right amount of tax is paid at the regular time.
During the VAT Health checkup or a Pre-Tax Audit in UAE, our Tax Consultant in UAE will guide and support the company to comply with the tax requirements so that the business is ready to face a Tax Audit in UAE conducted by the Authority at any time. Hence, the main role of a tax consultant in UAE while progressing with VAT Health Check or a Pre-Tax Audit in UAE is to ensure that the business and the VAT transactions follow the current VAT laws and regulations.
The Federal Tax Authority (FTA) carries out VAT inspections or Tax audits in UAE at varying intervals. If the authority identifies any errors, the company shall be subjected to penal provisions including the imposition of penalties and fines.
What is Tax Audit in UAE?
Tax Audit in UAE is the verification conducted by the FTA to check if the company is complying with the UAE VAT Laws and regulations to check if all the tax liabilities are paid on time. During a Tax Audit in UAE, the authority will have the right to obtain any information or documents like the invoices and supporting documents. As your tax consultant in UAE, it is possible to assist your company in communicating and completing the procedures.
What is the importance of VAT Health checkup or a Pre-Tax Audit for your organization?
The importance of VAT Health checkup or a Pre-Tax Audit in UAE is to ensure that your business is running smoothly. It is necessary to check if the VAT-related matters are addressed properly and are in compliance with the UAE VAT Laws. Hence, it is always better to conduct VAT health checkup or a Pre-Tax Audit in UAE for your organization. During VAT Health checkup or a Pre-Tax Audit in UAE, we will undertake a detailed analysis of the previous tax procedures and returns adopted and submitted by your company. Whenever any discrepancy or non- compliance is identified, all the necessary suggestions and recommendations will be given according to the VAT provisions. If there is any scenario noticed wherever Voluntary Disclosure From (VDF) is to be submitted, proper guidance will be given in this respect. Guidance for VAT compliance will be given as per your industry wherever we observe any non-compliance in the present system.
All you need to know about Tax Agent in UAE
Companies which are not in a position to look after their VAT related issues and deal with the authority can opt for tax agent service in UAE. On behalf of the company, the tax agent in UAE can submit the documents and follow up with the authority on any such matters that come during the tax agent’s service. Tax Agent in UAE can assist the businesses especially when there is a Tax Audit in UAE and can represent before the authority in case of any queries or clarifications.
Who is a Tax Agent in UAE?
A tax agent in UAE is a person registered with the Federal Tax Authority who will represent before the authority on behalf of another person in fulfilling their Tax Obligations.
As your tax agent in UAE, we can act on behalf of your company with regard to any tax-related matters with the FTA. We can represent and provide all the necessary documents and information to the Federal Tax Authority.
Tax Agent in UAE is not mandatory, but they will be crucial in various situations. FTA issues new clarifications and conducts discussions on VAT on a regular basis which you may not be aware of. The tax agent in UAE will keep us informed about those changes and address any queries or doubts on your behalf and help your business to have compliance without any errors.
Also, if your company is penalized for any VAT matters it is always advisable to seek the advice of the Tax Agent in UAE as they can appeal the authority to reconsider their decision.
What is the Role of Tax Agent in UAE?
- VAT Registration
- VAT Group Registration
- VAT Individual Registration
- Communicating with the FTA on VAT-related matters
- Preparing and filing VAT returns on behalf of the clients
- Providing advice on VAT transactions
- Submitting the VAT Reconsideration Forms to the authority on your behalf
- To apply for VAT Deregistration
- Applying for VAT Refund Application
The Tax Agent in UAE shall maintain the confidentiality of any information that has been obtained in the course of performing their duties as a Tax Agent.
Emirates Chartered Accountants Group is a Registered Tax Agent with the Federal Tax Authority (FTA) as Emirates International Chartered Accountants Group providing exclusive Tax Agency Service to businesses in the UAE. Our Tax Professionals are highly qualified and well versed with the UAE Tax Law with the practical implementation of VAT in UAE and Bahrain. We understand that every business is different from the other. Hence, each of our services is tailored as per your business needs.
Looking for TAX Services in the UAE? We provide:
For Tax Services in Dubai:
Mr. Pradeep Sai
sai@emiratesca.com
+971 – 556530001
For Tax Services in Abu Dhabi:
Mr. Navaneeth
nav@emiratesca.com
+971 – 558892750
For Tax Services in Northern Emirate (Sharjah, Ajman, RAK, Fujairah)
Mr. Praveen
praveen@emiratesca.com
+971 – 508873115
Sep 25,2024VAT Treatment for Charities in the UAE
