VAT TRANSACTION ADVISORY SERVICES

What is VAT Transaction Advisory Service?

VAT Transaction advisory service simply means the analysis of an individual transaction of a business to identify the applicability of UAE VAT. Such services are unique to a business entity.

As you know, every business comprises multiple transactions which are critical for its functioning. It is imperative to define them in detail and identify the tax points involved in those transactions for better compliance with UAE VAT Law.

For example, assume a company that is located inside a Designated Zone. Any supply of goods made inside such designated zones for consumption is to be taxed at 5% as per UAE VAT Law. But on a thorough reading of the law, one should be able to decipher the drift of law which states that if such goods consumed inside a designated zone is forming part or are consumed during the production of another good located in the same designated zone shall be treated as Out of Scope of UAE VAT.

This is one scenario of UAE VAT Law that is constantly wronged by many tax registrants due to an inadequate understanding of the law. It is rather a necessity to have a seasoned tax consultant go through your business model and ascertain whether the taxability is accurate as per the tax laws of the country.

A tax consultant’s expertise is not limited to ascertaining the tax points in a transaction but to ensuring that the accounting is done properly to reflect such tax treatment, as the law mandates, in the books of accounts of the company.

Our Role as a VAT Transaction Advisory Firm

We, Emirates Chartered Accountants Group, are the front runners when it comes to VAT in the UAE. We have successfully implemented tax systems for 500+ clients across the region.

During our VAT Transaction Advisory Services, we assist clients efficiently in managing their VAT transactions by complying with UAE VAT laws and advising on transactions. The TAX Experts ensure that the businesses comply with the rules and regulations so that there are no overpayments made and Input Credit is taken correctly on time. Our VAT Transaction Advisory Services or VAT Advisory Services is designed to comply with your business needs to cater to you our best advisory services in the UAE.

As your tax consultant, we will analyze the transactions of your company to identify the tax points involved in such transactions. Such minute attention to detail will help you devise a full-proof tax system in compliance with UAE tax laws.