UAE Guide: VAT Consultant in Abu Dhabi
Aviaan Accounting is the Leading VAT Consultant in Abu Dhabi; satisfying the client needs through sound business judgment, analytical insights, and a professional team of accountants
GCC Government implemented VAT at the rate of 5% in UAE from 1st January 2018, since then all the companies are struggling to meet and fulfill the executive regulations and laws of VAT. Businesses need to make changes in their operating structure, business processes, and cross-departmental functions. Also, the financial and accounting calculation, reporting, and estimation need to be modified in order to incorporate VAT and comply with legal requirements imposed by UAE Government.
Any business conducting its routine transactions or trade or selling its goods or services is liable to register for VAT in Abu Dhabi if its taxable supplies and imports exceed AED 375,000 per annum. However, tax registration is optional for businesses whose supplies and imports exceed AED 187,500 per annum.
In the case where a person is not a resident of the State and is required to register in accordance with the provisions of the Decree-Law, the tax authority shall register him with effect from the date on which he started making supplies in the State, whether or not he so notifies them of the liability to register for Tax, or from such earlier date as agreed between the authority and the person. Following are the documents required for VAT registration in Abu Dhabi:
- Copy of trade license
- Passport copy of business owner and partners
- Copy of Emirates ID held by owner and partners
- Memorandum of Association (MOA) of the company
- Company contact details
- Bank account details
- The income statement for the last 12 months
- Nature of business and activities performed
Update on VAT Process in Abu Dhabi
VAT process begins by collecting tax from the consumer while selling goods or rendering services. The collected tax is then paid to the Government in accordance with the guidelines provided in executive regulations. On the other side, companies receive a refund from the government on tax that it has paid to its suppliers. Furthermore, foreign businesses may also recover the VAT they incur when visiting the UAE.
VAT Return Filing with FTA in Abu Dhabi
A taxable person in Abu Dhabi is responsible to submit a VAT return in the prescribed format given by the FTA. The VAT return discloses the tax amount due or refundable for a tax period. One must disclose the total output tax payable as well as the input credit available against such output separately. Excess of output tax over and above the input tax for a tax period is the amount of tax liability to be paid. According to VAT law, companies with taxable supplies must submit the tax return to the FTA within 28 days of the completion of the tax period and the VAT liability must also be settled within this time frame.
Aviaan Accounting; Best VAT Consultant in Abu Dhabi
We are FTA approved and certified VAT consultant operating in all the emirates of UAE and managing business records, information, documents, and financial data in the most professional way possible. Our services include:
- VAT Registration, VAT Person Registration, VAT Group Registration
- Filing VAT Returns
- Maintaining financial records related to Tax transactions
- Liaise with FTA on your Tax related matters
- Represent you in front of FTA
- VAT transaction advisory and consultancy service
- Prepare VAT-related documents
- De-registration process
Our VAT Consultant Team
Aviaan Accounting offers VAT consultancy services with extensive experience, resources, and knowledge of all VAT-related queries. We have specialized Tax consultants who are trained to advise and assist you with all of your accounting and tax requirements.
Our experienced team of VAT consultants in Abu Dhabi, UAE will assist you with tax services including VAT registration, submission of VAT return filing services, and submission of VAT refunds in Abu Dhabi.
For enquiries Phone (UAE): +971 567952590