Value Added Tax (VAT)

VAT Health Check

At AMA, we have a dedicated tax team who are well versed with the UAE VAT law provisions and are experienced in all sorts of industries including a range of large and MSME companies. Their expertise offers us a great support, so as to conduct VAT health check in UAE where all areas will be reviewed. We shall suggest necessary corrective actions to rectify any errors and streamline the documentation process, thereby preparing the client if any tax audit arises.

VAT Registration, De-Registration

AMA comprises of experienced tax consultants, for assisting new and existing registrants to fulfil UAE VAT administrative formalities related to VAT registration and deregistration.

The tax expert shall guide the registrant with the requirements of documents and information for effective on-time submission of registration and deregistration to obtain timely approval, based on the business structure and requirement. There is a follow up done by the tax team with the Federal Tax Authority (FTA) officers on a regular basis, to identify any further requirements of information and accelerate the administrative process.

VAT Voluntary Registration and Disclosure

Registration for VAT is not mandatory for every business firm in the United Arab Emirates (UAE). Though the FTA does require some entities to register for VAT, it is voluntary for small businesses, entrepreneurs, and freelancers who have still not reached the statutory VAT registration level. All entities that are not compelled to register for VAT, but having a place of business in the United Arab Emirates (UAE), are offered the opportunity to do so on a voluntary basis. The AED 187,500 voluntary organisations threshold is half of the mandatory registration threshold. 

VAT Return Filing & Refund

AMA has experienced tax consultants, who are exceptionally great at reviewing periodical returns of corporate tax payers across diverse industry sectors, ranging from mid-size corporate clients to large corporations having their presence locally as well as internationally.

AMA offers return review services in UAE as a part of Tax agent services or Tax consultant services, where filing of accurate return will be ensured on timely basis.  This return review also ensures that the input tax claims, reporting of sales figure and import transactions are in compliance with the UAE VAT law and executive regulations.

VAT Due Diligence

The VAT governing laws and regulations are constantly evolving. Regarding all the latest changes, UAE VAT Due Diligence will keep the company up to date, detect adherence gaps, and provide the right strategy to minimize or prevent negative repercussions.

The tax team at AMA, are well-versed in UAE VAT legislation requirements and has worked in a variety of sectors with both small and large businesses. Their knowledge and expertise in this area, will help with the VAT Due Diligence in the UAE, where thorough examination will be done on every aspect. Our team would guide and recommend you with the appropriate measures to resolve any inaccuracies.

In order to identify any possible pitfalls, Due Diligence can be said to be an act of gathering, interpreting, and assessing a company’s information in order to identify any possible pitfalls. Due diligence allows the buyer of a company to research and reduce any dangers related to the firm’s legislative framework, tax or VAT compliance, workers, consumers, marketplace, investments, and liabilities.

VAT Audit

The UAE government has applied VAT on the supply of taxable goods and services starting on January 1, 2018. To evaluate tax compliance, the Federal Tax Authority(FTA) can audit firms that are obligated to pay taxes. Our VAT audit services in the UAE can assist you in discovering and disclosing any key flaws in the VAT environment, such as transaction verification.

AMA’s VAT audit services will result in a thorough and critical examination of the entity’s VAT accounting and return filing, which would be in accordance with the Federal Tax Authority’s guidance note on document management, tax collection, payment, and input tax claim, among other things. Also, for future reference, a report is published by the organization, depending on the agreed-upon processes.

VAT Penalty Waivers

According to the Federal Tax Authority, by various mechanisms, the taxpayer has been given the right to apply for reduction or exemption from Tax law administrative penalties. The waiver or reduction will be at sole discretion of the FTA based on the merits of the case.

Considering our vast experience and knowledge in the subject, our experts at AMA can assist companies in compiling and submitting all the necessary documents required for the penalty waivers, within the stipulated time period of 20 business days. Our professionals will provide you with in-depth insights into the procedures of the legal provisions. We can assist you with drafting legal and expert submissions to include technical and procedural arguments.

Book a Free Consultation