Tax Services

VAT IMPLEMENTATION

VAT is 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. We offer 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
• Training to the Management & Employees
• Analyzing the impact of VAT on your business
• Identifying a VAT team leader VAT Implementation Project manager
• Registration for VAT
• Accounting systems under VAT
• Invoicing under VAT
• IT Migration
• Filing of Return VAT Return

VAT Return Filing Servivce

VAT Returns Filing has to be done through online portal of the Federal Tax Authority (FTA) available under e-services. The form used for VAT return filing is called Form VAT 201. A taxable person is responsible to submit VAT return in the UAE in the prescribed format given by the FTA. Every taxable person is required to submit the VAT Return within 28 days from the end of each Tax period prescribed by the FTA. This must be in accordance with the provisions of the UAE VAT law. The taxable person is also liable to remit the amount of tax due to the FTA within the time frame specified by the UAE VAT Law; ie within 28 days from the end of each tax period.

How do we help you for filing your VAT Return Form VAT201?

Our Tax professionals in InsideOut Solutions can support you in the following areas:

• We will visit your office on a periodical basis (weekly/monthly/Quarterly) to compile the information for filing the VAT Return. At the end of each VAT return period, we prepare the VAT return on behalf of your company in accordance with the provisions of UAE VAT law.
• We ensure that the VAT returns are filed within the specified time in each tax period.
• Proper guidance for the payment of Minimal Tax Liability as per the provisions of the UAE VAT Law will be advised.
• Optimal Tax Planning for the company will be done.
• We will be available to represent in front of the authority on behalf of you as and when required.

How the VAT returns Form VAT201 are filed?

VAT Returns are to be filed through online portal of the FTA. One has to access the VAT Return Form by login into the e-services of the FTA portal by using the respective user name and password. Our Tax Expert will help you fill the VAT return form with all relevant information within the due date prescribed by the authority.

What are the information to be provided in the VAT Return?

The VAT return discloses the Tax amount due (or refundable as the case may be) for a particular Tax Period. One has to 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.

Tax amount disclosed under Output Tax over and above the Input Tax is the amount to be paid to the FTA for a particular tax period within the due date.