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  1. VAT
  2. VAT Implementation

VAT Implementation

VAT is expected to be implemented in the UAE with effect from 1st January 2018. VAT (Value Added Tax) is an indirect tax which is charged at every level of supply of goods or services or both. Businesses need to take necessary steps for VAT implementation in UAE into their operations. CBD Accounting and TAX consultant offers support to businesses for VAT implementation in Dubai, Abu Dhabi as well as Sharjah and all other northern emirates.

Steps Involved in VAT Implementation Services:

We believe that the businesses should be guided properly for VAT implementation in UAE to comply with UAE VAT law and develop a sustainable tax strategy. The procedure for effective VAT implementation is as follows:

Understand the Business Model:

We need to understand the business nature of the client's company, in order to better provide the customer's VAT reporting service.

Analyzing the impact of VAT on your business:

In order to have a better clarity and appraisal for the management and to streamline the operations of the company by complying with the UAE VAT requirements, we study the impact on business on working capital, costing and profitability.

Registration for VAT:

As part of the implementation of the VAT, in order to comply with the UAE VAT Law, we need to confirm whether the business has all been registered with the tax ID.

Accounting systems under VAT

The present accounting systems will be scrutinized.In order to prepare the first VAT return to the Federal Tax Office (FTA),It is recommended that financial accounting statements be produced using the appropriate taxonomy based on the VAT system.

Invoicing under VAT

The requirements of VAT invoicing under the UAE VAT Law will be implemented.

Filing of Return VAT Return

The support for preparing and filing of the first VAT return by taking the correct input tax credit against the total VAT.

CBD Accounting and TAX Consultant

Specialized in VAT Implementation in UAE. In the United Arab Emirates,we provide our customers with guidance and advice on VAT business.