The Federal Tax Authority (FTA) is the federal agency in charge of collecting and administering taxes. The authority provides all legislation, including guidelines and clarifications, to assist commercial entities.
The UAE government implemented Value Added Tax (VAT) on January 1, 2018. VAT (Value Added Tax) is an indirect tax imposed on the consumption of goods and services. The application of vat would have a significant influence on corporate operations, making it more difficult for taxpayers to meet their tax obligations as risk, volume, and complexity of transactions increase.
We have been providing continual professional help to taxpayers since the beginning of VAT in the UAE, ensuring that they are following proper tax processes and VAT compliance. We can assist your company in assessing transactions and resolving tax disagreements.
Accountant Dubai is an industry-leading accounting and consultancy firm in Dubai. Offering best VAT consultancy services to companies all over the UAE. We can guide businesses on the steps to proper taxation, vat registration, refund and adoption including the necessary updates to accounting systems.
We provide relevant advice services tailored to the demands of the sector in order to discover appropriate solutions. As your adviser, we may give you VAT advice on the transactions and advise you on their taxability and impact.
We are an approved VAT consultants in Dubai, UAE with Certified VAT experts by the FTA. Understanding the concept of the tax is the 1st step to compliance and we do for VAT consultancy, registration, return filing, auditing and Advisory services in Dubai, UAE. Make sure your business is VAT-ready with the help of Accountant Dubai – the trusted consultants in Dubai.
VAT on services is applicable in the UAE if the place of supply is in the UAE, and it applies to all services, including consultancy, management, and advertising. As previously stated, the place of supply rule determines taxability. So, unless a special exception exists, if a service is provided in or from the UAE, the place of supply shall be considered the UAE.
The following can be used as a starting point; however, it is subject to change based on scenarios or exceptions. As a result, a service’s tax rate can only be established by looking at the specifics of the case and cannot be generalized.
Exempted goods are bare land supply, local passenger transport, residential property supply (with requirements), and various financial services, according to UAE VAT Law. As a result, all additional supplies must be either standard rated (5%) or zero-rated (0 percent). As a result, depending on the transaction nature, consultancy services will be either 0% or 5%, and will not be exempt.
If supplied within the scope of UAE VAT, consulting services may be subject to VAT. Depending on the nature of the transaction, it could be either 5% or 0%. For example, a business consultancy fee charged to a UAE resident will be 5%, but a fee charged to a non-resident may be 0%. A service’s tax rate can only be established by looking at the specifics of the case and cannot be generalized.
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