VAT Consultants UAE | UAE VAT Consultancy Services - AED 1000 pm

VAT Consultants UAE – FBS Group: We Make VAT in the UAE Simple For You!

VAT Consultants UAE: FBS Group – Manage Your UAE VAT Risks and Benefit from the Services of Premium UAE VAT Tax Consultancy Firm, VAT Consultants UAE and UAE VAT Accountants, with Lully Fledged Offices in RAK… From as little as AED 1000 p.m.!

VAT Consultants UAE | UAE VAT Consultancy

Members of The FBS Kotsomitis International Group in RAK

Click Here for a Free VAT Quotation or to Discuss Your UAE VAT Needs

VAT Consultants Dubai – FBS Group: We are Top-Tier UAE VAT Accountants in Dubai. We provide Comprehensive UAE VAT Professional and Consultancy Services and UAE VAT Tax Consulting to Businesses Across the UAE and Located in Any Emirate of the UAE: Dubai, Ras-Al-Khaimh, Abu Dhabi, Sharjah, Fujairah, Umm-Al-Quwain, Ajman… At Any Level of Complication: From Small Start-Ups To Large International Concerns!

“UAE VAT Services from FULL Outsourcing of Your VAT function (Plus+ Financial Statements and Audit) to just VAT Consulting, Support, Compliance Monitoring and Review …To Anything In-Between!”

“UAE VAT Services For Small Businesses Without an Established Accounting Function: We Undertake the Whole Accounting Function – Bookkeeping, Accounting, VAT, Financial statements, Audit, Consulting”

Click Here for a Free VAT Quotation or to Discuss Your UAE VAT Needs

Watch our Corporate Group Video Profile as Broadcast by FOX 5 News – Our Group‘s Global Reach…

Essential VAT Guides and How VAT Consultants UAE Can Help You!

Our A to Z Guide for VAT in the UAE – Everything you need to know About VAT – from A to Z

A Short ‘Road-Map” to UAE VAT Implementation – How to Manage the UAE ‘VAT Challenge’!

Practical and Useful UAE VAT Implementation Tips – To Help You Get Your Business “VAT-Ready”

How We Can Help You! – Detailed list of Our UAE VAT-Related Services

Fees for VAT Consultants UAE – UAE VAT Tax Consultancy Services

Ongoing Annual Fees for VAT Consultants UAE Services. UAE VAT Tax Consulting, UAE VAT Compliance Fillings and Basic Consulting Services: From AED 1000 per month (AED 12600 p.a.) – A full written quotation will be furnished.

Contact Us for a Free Quotation or to Discuss Your UAE VAT Needs

Click Here for a Free UAE VAT Services Quotation – Make Sure You include FULL contact details of yourself and the Company subject to VAT, As Well As FULL details of activities and business lines; or Call Our Offices…

RAK Head Office: +971 7 244 7676

Watch our Corporate Group Video Profile as Broadcast by FOX 5 News – Our Group’s Global Reach…

FBS Emirates: Your Trusted VAT Consultants UAE – UAE VAT Consultancy

A Member of The FBS Kotsomitis International Group

We are VAT Consultants UAE, Official UAE VAT Tax Consultancy and UAE Chartered Accountants. Fully Licensed and Reputable UAE Value Added Tax (VAT) Specialists. As VAT Consultants UAE and Official UAE VAT Tax Consultancy with 20+ years’ experience in the EU and 5 years in the UAE we provide ALL the services and advice required to face the UAE Value Added Tax (VAT) challenge that lies ahead.

We have an experienced UAE VAT Team of Professionals who are expert VAT Consultants UAE and/or Professional UAE VAT Tax Consulting Firm. They stand ready to support you fully to face the challenges of the introduction of VAT in the UAE and minimise the risks of lost deadlines, wrong reporting / fillings, penalties and fines. With Your Peace of Mind and Your Minimum Involvement.

We operate from our Fully-Fledged UAE Offices which are located in Al Hamra Village in RAK. We provide the comfort of dealing with a reputable and Well-Established International Group with Offices in the UAE, Cyprus, Malta, Seychelles and the UK employing more than 50 highly-skilled, competent, experienced professional staff, mainly of European origin and professional associates worldwide.

We can help you with Our Services to make UAE VAT Simple and minimise ‘VAT Risk’ for You!

Acting as assigned Your Official UAE VAT Tax Consultant, responsible for supporting your liaison with the UAE VAT Tax Authorities and Your VAT Registered Business
Opening a UAE VAT Tax File, Registering for Value Added Tax (VAT) in the UAE, obtaining a UAE VAT number
Keeping accurate accounts and books and records for You, in compliance with UAE Value Added Tax (VAT) regulations
Preparing Financial Statements (IFRS) – financial statements give a more serious and credible image of your company
Statutory audit – independently audited accounts provide more comfort to the UAE VAT Authorities (FTA) that your records are correct and can avoid fines
Making VAT payments at the right time for You, avoiding fines and penalties
Preparing and filing VAT returns for your UAE VAT Registered Company
Handling objections and tax disputes with the UAE VAT Tax Authorities
Tax and VAT Consulting – Providing You Constant Updates on UAE, VAT and Tax Law and Regulations as well as advice on actions that need to be taken
Bottomline, being your ‘go to’ professionals and Trusted Partners for all your UAE VAT Tax, Accounting and Audit Needs

Concerned About UAE Value Added Tax (VAT)? FBS Emirates: Your Trusted VAT Consultants UAE and UAE VAT Tax Consultancy are Here To Help!

You should be a little concerned if you haven’t started considering what the impact of UAE VAT will be on Your business. Fines and penalties relating to the UAE VAT Law compliance are hefty, on top of the negative cash flow impact of UAE VAT on SME business, as late receipt of sales invoices might mean paying VAT before actually receiving cash from clients.

On top of that it takes quite some time for your Business to be fully VAT-Ready and prepare your staff, systems and procedures, contracts, documents, IT to the new UAE VAT state of affairs. Not to mention the time needed for YOU – the client – to understand and digest the enormous amount of information so you can effectively manage your business in the new UAE VAT environment. It will be a great competitive advantage if you do!

Now is the right time to start planning for UAE Value Added Tax (VAT). Don’t forget the UAE VAT Registration ‘opens’ by end September 2017! As experienced VAT Consultants UAE – Professional UAE VAT Tax Consultancy We stand Ready to Support You and be Your Trusted Partners For All Your UAE VAT Needs.

UAE VAT Framework

As most of you will have heard by now, Value Added Tax will be introduced throughout the United Arab Emirates on 1st January 2018, at a rate of 5%.

The six members of the Gulf Cooperation Council (GCC) region (the UAE, Saudi Arabia, Qatar, Kuwait, Oman and Bahrain) have agreed on the GCC’s VAT framework. Each GCC state will release its national VAT legislation based on the framework’s key principles.

It is expected that the UAE Ministry of Finance will announce the UAE Value Added Tax (VAT) Legislation before the end of August 2017.

VAT will affect most businesses located in the UAE. There’s less than 6 months to go till the “Go Live” date of 1st January…. And less than 3 months till the expected VAT registration date …….Not that much time for businesses to prepare for Value Added Tax….

We advise you to start preparing now so that your company is ready for UAE Value Added Tax (VAT)…

Businesses should be seriously and carefully considering and understanding what challenges and hurdles lie ahead and how UAE Value Added Tax will affect them.

Does Your Company Need the Services of Experienced VAT Consultants in UAE or Official UAE VAT Tax Consultancy? If So, Click Here to Get in Touch with The FBS Emirates Kotsomitis Group

Since our last update on UAE VAT, additionally, new UAE VAT updates and guidelines have been announced by the UAE’s Ministry of Finance. You can read detailed Questions and Answers about these particular updates further down.

Does Your Company Need the Services of Experienced VAT Consultants – VAT Tax Consultancy in the UAE? If the Answer is YES – Contact FBS Kotsomitis

We are VAT Consultants UAE professionals – UAE VAT Tax Consultancy with around 20 years’ experience in the EU and we provide ALL the services and advice required to face the UAE Value Added Tax (VAT) challenge that lies ahead.

We Recommend You Enlist the Services of UAE VAT Consultants – VAT Tax Consultancy – Contact Us

We are experienced VAT Consultants UAE professionals – UAE VAT Tax A who are part of the FBS Kotsomitis Global Network.

Our Team of VAT Consultants UAE – Professional UAE VAT Tax Consultancy can provide assistance with UAE VAT related services such as:

Registering for Value Added Tax (VAT) in the UAE
Keeping accurate accounts, in compliance with UAE Value Added Tax (VAT) regulations
Making VAT payments at the right time
Preparing and filing VAT returns
Objections and tax disputes

Click Here NOW to Emai l Us!

UAE Value Added Tax (VAT) – Latest Clarifications and Updates Issued by the Ministry of Finance

The UAE Ministry of Finance’s (MoF) website provides valuable information and simplified explanations to all VAT queries.

Below are Questions and Answers on the most recent, key UAE VAT updates and guidelines that have recently been published.

UAE Value Added Tax (VAT) Frequently Asked Questions (FAQ)
*Question*	*Answer*
Who is eligible for Value Added Tax (VAT) registration?	A business has to register for VAT if its yearly taxable supplies and imports are over AED 375,000. A company might choose to register for VAT voluntarily if its supplies and imports are below AED 375,000 but over the voluntary registration threshold amount of AED 187,500. A business can register for VAT voluntarily if its expenses exceed AED 187,500. This will assist start-ups with no or low turnovers to register for VAT.
How long do I need to retain VAT invoices for?	A taxable person must retain VAT invoices issued and received for a minimum period of 5 years.
Which categories and sectors will be charged at 0%?	VAT will be charged at 0% for the below categories of supplies: Exports of goods and services to outside the GCC. Supplies of air, sea and land transportation (e.g. ships and aircrafts). Certain investment precious metals. International transportation and related supplies. New residential properties supplied for the first time within 3 years of construction. Supply of some healthcare services and the relevant goods and services. Supply of some educational services and the relevant goods and services.
What sectors will be Value Added Tax (VAT) exempt?	The below categories of supplies will be VAT exempt: Some financial services (which are explained in the VAT legislation) Plots of bare land Local commuter transport Residential properties
Will there be any special schemes for small or medium sized enterprises?	There are no special rules planned for SME’s. However, the FTA will provide assistance to SME’s with their enquiries.
How quickly will refunds be made?	Refunds will be made after the receipt and checking of the application.
Is there going to be bad debt relief?	Businesses will be able to decrease output tax liability by the VAT amount relating to bad debt that has been written off. The legislation will specify the conditions of bad debt relief.
Under which conditions will businesses be permitted to claim Value Added Tax (VAT) incurred on expenses?	VAT on expenses can be deducted in the below circumstances: The business must be a taxable person (the end consumer cannot claim any input tax refund). The business must have a valid tax invoice. VAT should have been charged correctly. The goods or services acquired are used or are intended to be used for making taxable supplies. VAT input tax refund can be claimed only on the amount paid up to 6 months after the payment date of the supply.
Will there be VAT that businesses are not permitted to claim?	VAT will not be deductible for expenses incurred for non-taxable supplies. Input tax cannot be deducted if it is incurred for specific expenses, e.g. employee entertainment expenses.
How should the place of supply be determined?	The place of supply will establish if a supply is made inside the UAE (in this case the VAT legislation applies) or outside the UAE. For the supply of goods, the place of supply will be the location of goods at the time the supply takes place. For supply of services, the place of supply will be the location that the supplier is established.
Can a company offset customs duties against Value Added Tax (VAT) payments?	VAT is payable in addition to custom duties that are paid by importers and it cannot be deducted. VAT will be calculated on the value including the customs duties.
What will the treatment of real estate be?	The VAT of real estate depends on if the property is a commercial or a residential one. Supplies (including also sales and leases) of commercial properties are going to be taxable. Supplies of residential properties will be mainly VAT exempt. The first supply of residential properties up to 3 years from their construction will be 0%.
Will Value Added Tax (VAT) grouping be permitted?	Businesses that meet specific conditions as per the legislation (such as having residence in the UAE or being associated parties) will be permitted to register as a VAT group. This will simplify accounting for some businesses.
Will there be special transitional rules?	Yes, there will be special rules to handle various circumstances that might arise regarding supplies that span the UAE VAT introduction.
How about the treatment of financial services?	It is expected that financial services that are fee based will be taxable but margin based ones will probably be exempt.
How about the treatment of insurance?	General insurance, (e.g. automobile, medical) will be taxable. Life insurance will be treated as an exempt financial service.
Will it be permitted to issue cash receipts?	A VAT registered supplier has to issue a valid VAT invoice for supplies. A valid VAT invoice has to have a specific format as per the VAT legislation.
Will non UAE residents have to register for Value Added Tax (VAT)?	Non UAE residents who make taxable supplies within the UAE will need to register for VAT except if there is another UAE resident responsible for accounting for VAT on these supplies.
Will Value Added Tax be due on imports?	Yes, VAT will be payable on goods / services purchased from overseas. If the receiver in the State is a VAT registered person, VAT will be due on the import using a reverse charge mechanism. If the receiver in the State is not a VAT registered person, VAT will be due on the import of goods from a non-GCC location – this VAT will need to be paid prior to receipt of goods.
Will businesses be required to report their activities in other Emirates?	Businesses will probably be required to provide additional information regarding their VAT returns, reporting revenues earned in other Emirates. More information will be provided regarding this.
Can goods exempt from customs duties be VAT exempt too?	Some imported goods may be exempt from customs duties but will not necessarily be VAT exempt.
What cases could lead to penalties being imposed?	There will be penalties in cases of non-compliance. For example: Not registering for VAT when required to do so Not keeping the required records as per the tax legislation Not submitting a tax return or making a payment at the correct time A deliberate act or omission that violates the provisions of the tax legislation.
Can I object to the decisions of the Federal Tax Authority?	Yes. You will be able to object to the FTA’s decision by requesting the FTA to reconsider its decision. The request needs to be submitted within 20 days business days from the date you were notified of the FTA’s decision. If you are not satisfied with the FTA’s revised decision, you can send an objection to the Tax Disputes Resolution Committee. If you are still not satisfied, you can challenge the Committee’s decision in court.

Avoid the Last Minute Rush – Contact Us Now for Your UAE VAT Needs

Our firm has in place a specialist VAT department at our Head Office in Dubai to assist clients with UAE Value Added Tax (VAT) compliance.

Contact us to Discuss Your UAE VAT Needs

As mentioned above, we expect that the UAE Ministry of Finance will announce the UAE VAT Legislation before the end of July 2017.

Furthermore, there will be more Value Added Tax (VAT) policy announcements coming soon from the Ministry of Finance.

One Step Closer to Implementing UAE VAT: President Issues Tax Procedures Law

The President of the UAE, His Highness Shaikh Khalifa Bin Zayed Al Nahyan has issued the Federal Law No. 7 of 2017 for Tax Procedures which sets out the legal framework of the UAE tax system, regulating its implementation, administration and the collection of taxes and defining the Federal Tax Authority’s (FTA) function.

The Federal Law on Tax Procedures was announced on the UAE Ministry of Finance’s website on 1^st August 2017.

The law covers the collection of taxes in the UAE with a focus mostly on Value Added Tax (VAT), which will be introduced at a rate of 5% on 1^st January, 2018.

The law also covers UAE excise taxes which will be implemented in the fourth quarter of the current year.

The Tax Procedures Law follows the Common Value Added Tax (VAT) Agreement of the States of the Gulf Cooperation Council.

The issuing of the Federal Law for Tax Procedures has clearly paved the way for the UAE for meeting its VAT implementation deadline of 1^st January 2018.

The UAE Value Added Tax (VAT) Law and regulations that will contain additional procedures specific to VAT are expected to be published shortly.

All Businesses in the UAE are Strongly Advised to Seek Expert Advice and Guidance and Appoint UAE Tax and Accountancy Specialists

The Tax Procedures Law defines the common procedures and rules that will be applied to UAE taxes and defines the role and rights of the Federal Tax Authority and the obligations of taxpayers.

Additionally it provides for a Register of Official UAE VAT Tax Agents which will be compiled with highly-reputed professional Firms.

Key Elements of the Federal Law for Tax Procedures

UAE Federal Law for Tax Procedures Summary
Tax registration	The law requires that an individual eligible for tax registration must do so as per the law.
FTA correspondence	Registrants must include their tax registration number (TRN) in all correspondence / transactions with the FTA. Registrants must inform the FTA within 20 days of any circumstances that require the amendment of information in their tax record.
Notification methods	The FTA will notify a taxable person about any decisions or procedures via the address used in communications between the FTA and the person. A taxable person shall be treated as having received correspondence and as having been notified of a decision if the FTA has sent the correspondence according to the requirements specified in the law.
Keeping accounting records and submitting documents to the FTA	The law requires individuals conducting any type of business to keep accounting records and commercial books together with any tax-related information as determined by the law for five years. Tax returns, supporting data, records and tax-related documents have to be submitted to the Authority in Arabic. The FTA may accept documents in any language provided a translated Arabic copy is provided at the person’s expense if requested.
Preparing and submitting tax returns	Taxable individuals must prepare tax returns for each tax period and for each separate tax. They must submit their tax return to the FTA and they must pay any payable tax within the time limit. The Authority reserves the right to not accept incomplete tax returns.
Specifying payable tax on settling	A taxpayer must specify the type of tax as well as the relevant tax period to which the amount relates when paying an amount to the FTA. If a payment is made without specifying the type of tax or the tax period, the FTA will have the right to allocate the whole amount or part of it, as per the mechanism specified in the law. If a taxable person pays an amount that is more than the payable tax, the FTA will have the right to allocate the difference to a future tax period unless the taxable individual submits an application for refund.
Voluntary disclosure	In the event that a taxable person is aware that a tax return that has been submitted to the FTA or a tax assessment sent to him by the FTA is incorrect, resulting in the calculation of less payable tax, the taxable person must apply for a correction of the tax return by submitting a voluntary disclosure within the specified time limit. If a taxable person is aware that a tax refund that has been submitted to the FTA is incorrect, resulting in the calculation of an amount more than the refund amount, the taxable person must apply to correct the tax refund by submitting a voluntary disclosure within the specified time limit.
Tax Audits	The FTA may perform a tax audit on any individual in order to determine their compliance with the relevant laws. The individual or business must provide the required assistance but will have the right to obtain the documents handed over for the audit. A person subject to a tax audit, his/her tax agent or his/her legal representative must provide the required information to the tax auditor. The FTA may order a re-audit if there is new information that could change the tax audit. The FTA may perform the audit at the FTA’s office or at the place of business of the individual, in which case, the individual will be given at least 5 working days’ prior notice. During an audit the tax auditor may request the original records or copies of documents. Furthermore, the tax auditor might take samples of equipment, goods or other assets available at a place of business. The tax audit will be conducted within the Authority’s working hours, however, it may be decided to conduct it outside its regular hours if deemed necessary.
Procedure for tax refund	The FTA will set-off any amounts to be refunded against any payable tax or penalties due from the taxable person. The FTA can decline to refund amounts if there are other disputed tax amounts due. The FTA will issue a tax refund according to the procedures and provisions of the law.
Tax assessments and administrative penalties	The Authority will issue a tax assessment in order to determine the tax payable and serve it on the taxable individual within five working days of issuance in the following cases: If the taxable individual does not apply for tax registration within the specified timeframe If the individual does not submit a tax return within the specified timeframe If the individual does not pay the tax payable before the specified deadline If the taxable individual submits an incorrect tax return If the registrant fails to calculate tax on behalf of another individual, in cases where they are obligated to do so by law.
Penalties and appeals	The law also sets out the penalties for non-compliance and the procedure for tax appeals.
Tax Agents	An individual may appoint a tax agent who will act on his behalf and interact with the FTA regarding his tax affairs. The tax agent must, if requested by the Authority, provide all information, records, data, documents required by the Authority regarding the individual whom the tax agent represents.
Register of Tax Agents	The law specifies that all UAE tax agents must be registered by the FTA and it forbids the practicing of the tax agent profession in the UAE unless they are registered. Only registered tax agents may interact with the Authority on behalf of taxpayers. Procedures and requirements for the registration of tax agents and their rights and obligations are provided.
FTA employees code of professional conduct	The law states that FTA employees are bound by non-disclosure agreements and are prohibited from disclosing information that they obtained or had access to in their capacity of FTA employees or after cessation of their employment unless requested by judicial authorities.
FTA employees and conflict of interest	The law covers issues relating to conflict of interest and prohibiting FTA employees from performing any tax procedures in certain cases.

We Advise You to Enlist the Services of VAT Consultants UAE – VAT Tax Consultancy

How We can Help You with UAE Value Added Tax (VAT) Compliance

We are tax and VAT specialists with around 20 years’ experience in the EU and 5 years’ experience in the UAE. We provide ALL the services required to deal with the UAE VAT challenge that lies ahead.

We have an experienced team of VAT professionals who are part of the FBS Kotsomitis Global Network.

As experienced VAT Consultants UAE – Professional UAE VAT Consultancy Our consulting services for UAE VAT include the below:

Registration for UAE VAT
Assessment of the impact of VAT on your UAE company
VAT bookkeeping and accounting services in compliance with UAE VAT regulations and to avoid any penalties for UAE VAT non-compliance
Keeping accurate accounts, in compliance with UAE VAT regulations
Making VAT payments at the right time
Preparing and filing VAT returns as per UAE VAT law
Assessment of VAT on profitability and sales prices
Objections and tax disputes

We Can Help You with UAE VAT Compliance – Contact Us

UAE VAT Compliance – A Red Flag for ALL UAE Businesses!

Experienced VAT Consultants UAE – Professional UAE VAT Tax Consultancy and VAT advisors will be required by all UAE based businesses to prepare them for UAE VAT implementation.

All Businesses in the UAE are Strongly Advised to Seek Expert Advice and Guidance and Appoint UAE Tax and Accountancy Specialists – Contact Us

Lack of familiarity with UAE VAT requirements will be a huge obstacle for UAE businesses, leading to hefty penalties and complications. Expert advice and guidance is a MUST so that businesses can plan their activities and comprehend their VAT liabilities…… Time is Running Out…. Don’t get caught out….Be ready for UAE VAT Day on 1^st January 2018.

Whether Your UAE based business is in Dubai, Ras Al Khaimah, Abu Dhabi, Ajman, Fujairah, Sharjah or Umm al-Quwain….. UAE Value Added Tax (VAT) is a reality for You.

UAE VAT is going to affect Your Business……Even if your business is considered below the UAE VAT threshold, you still must be aware of UAE Tax requirements.

Contact VAT Consultants UAE Assistance with UAE Value Added Tax (VAT)

Our firm has in place a specialist VAT department at our Head Office in Dubai to assist clients with UAE VAT compliance. We are experienced VAT Consultants UAE – Professional UAE VAT Tax Consultancy.