Value added tax is a significant component of any financial compliance of a business in the UAE. Since its introduction in 2018, all businesses that are registered under value added tax must submit returns to the Federal Tax Authority (FTA), where the transactions and due taxes are properly reported. Professional value added tax accounting UAE will help ensure that your business is well-organized to comply with the requirements of the law, not to face penalties and be considered credible under the UAE tax law.
After the implementation of VAT value added tax in UAE on 01 January 2018, it started sending people into preparation for VAT registration and accounting. Like many of our clients, you can also Welcome this tax in UAE regime with assurance having Farhat Office & Co. guiding you each step of the way.
VAT accounting requires meticulous documentation. Records are expected to be kept by organizations for checking by the government. Procedures and controls should be applied before even starting to face the VAT regime for your company’s own assurance that value added tax will almost always be accounted for accurately.
For the accounting departments in every organization in the UAE, it will take some time to get used to with what the value added tax regime will bring with it. value added tax accounting will surely push companies to be more aware of all the schemes that should be learned in order to properly account for VAT and take care of other VAT affairs, such as tax filing. It is not advisable for VAT to be taken lightly since penalties are heavy for entities that are not complying with the tax laws, which have been released by the government.
Help from a value added tax consultant in Dubai comes into the picture in this scenario. Assistance will definitely give substantial aid to the businessmen who are not used to having to deal with VAT, especially in this country. There are a number of VAT affairs that need to be understood in order to be handled. A VAT consultant in Dubai from Farhat Office & Co. will advise you on what methods you should learn and which to apply for you to manage effectively.
The Role of Value Added Tax Consultants in UAE Businesses
All that you need to be handled about value added tax accounting, such as necessary amendments of a company’s accounting system, reviewing of tax reports, technical support with accounting, tax filing, tax calculations, etc., can be handled by FAR – Farhat Office & Co. We are capable of assisting you in all of them or doing them on behalf of you. As mentioned above, there are a couple of accounting schemes that can make value added tax accounting easier. Using those value added tax accounting procedures can simplify value added tax accounting. We can also help you in applying those or developing your own style of dealing with value added tax to make it less complicated. We are intentionally achieving to satisfy your needs by giving you a quality service.
VAT consultancy services can be found everywhere, and Farahat & Co. is one of the best value added tax consultants in UAE. With our experience that is more than 30 years of being in the business industry, we are completely knowledgeable about the processes needed and what our clients need. We can anticipate any problems that could arise in certain situations. With us, you can be sure that we know where you’re coming from with the dilemmas that you lay on the table for us to fix, and we can always find the answers to those. The exceptional accounting services and bookkeeping services that you are looking for are offered by us since we are also one of the best auditing firms in Dubai. Some of the top CPAs in Dubai handle our payroll and HR solutions service. Having various capabilities, we also take care of the deregistration of a company and conduct forensic accounting in Dubai. In times that a startup needs trademark registration in Dubai, we handle that as well.
Being one of the leading accounting firms in Dubai, we can manage the accounting and bookkeeping side of your organization. The same CPAs are also part of our project developers audit and work hand-in-hand with our auditors for Owners Association in Dubai. To find out for yourself that we are indeed one of the best companies to offer value added tax consultancy services in Dubai, you can book a free consultation with us anytime you’d like.
Tax Return Filing in UAE is an official declaration indicating the amount of Value Added Tax that a business has received and paid for a given tax period. This is submitted via EMARATAX Portal or UAE e-Services Portal, as a rule with the VAT201 Form or VAT311 Form.
Overview of VAT returns filing:
The standard process of the VALUE ADDED TAX return filing in the UAE is as follows:
VALUE ADDED TAX Return Filing Services have the following benefits.
Professional filing service introduces professionalism and precision to ensure that your business is not at risk of litigation and financial cost.
Key benefits include:
Services Offered by VAT Experts
| Service | Description |
|---|---|
| VAT Registration | Assistance with registration and obtaining a Tax Registration Number (TRN). |
| VAT Consultancy | Strategic advice on VAT implications, planning, and compliance. |
| VAT Reclaim Services | Support in reclaiming input VAT paid on eligible expenses. |
| VAT Audit Support | Preparation and representation during FTA audits. |
| VAT De-registration | Guidance for businesses ceasing operations or falling below the threshold. |
| CFO Services | Financial oversight, VAT management, and performance reporting. |
| Auditing Services | Ensuring accuracy in financial statements for VAT submission. |
| Accounting & Bookkeeping | Maintaining compliant records aligned with VAT laws. |
Taxable Persons and Eligibility
You are required to file VALUE ADDED TAX returns if you:
Businesses Required to Maintain VAT Records
Mandatory records include:
Compliance & Penalties for Non-Filing
Non-compliance with VALUE ADDED TAX return filing can lead to administrative penalties by the FTA.
| Offense | Fine (AED) | Repeat Offense |
|---|---|---|
| Failure to file VALUE ADDED TAX return on time | 1,000 | 2,000 |
| Late payment of VAT due | 2% of unpaid tax | 4% on the 7th day + 1% daily (max 300%) |
| Incorrect VALUE ADDED TAX filing | 3,000 | 5,000 |
| Providing false data | 5,000 | Up to 50% of unpaid tax |
Avoid Penalties with Expert VAT Return Filing Assistance
Possible pitfalls that have been circumvented by professionals:
The professional VAT accountants take care of the entire operation of startups, SMEs, and corporations.
Reporting Activities that are covered by Experts.
Taxable Supplies and Categorizations.
VAT Calculation and Methods of payment.
VAT Calculation Concepts:
Also Read: VAT Deregistration Services in Dubai, UAE
Payment Methods:
E-Dirham card or internet bank transfer via EMARATAX.
Payments through authorized service outlets.
The over the counter payments in registered UAE banks.
Why Choose Our VAT Experts?
The benefits of employing specialists are:
Leading VAT Service Providers
| Provider | Specialty |
|---|---|
| Farahat & Co. | Full VAT accounting and compliance management. |
| CDA Accounting | Audit and FTA representation. |
| A&A Associate | Corporate VAT consultancy and advisory. |
| Shuraa Tax | Business setup and VAT advisory for SMEs. |
| AMCA Auditing | End-to-end accounting and tax solutions. |
| Federal Tax Authority (FTA) | Government body regulating VAT compliance. |
All VAT-registered businesses and taxable persons exceeding AED 375,000 turnover annually.
Usually every quarter, though some entities file monthly depending on FTA assignment.
Penalties range from AED 1,000 to 2,000 for late filing, plus daily percentages on unpaid tax.
Yes. Many businesses outsource VAT filing to accounting firms for compliance and accuracy.
Log in, access VAT201 Form, enter data, review, submit, and pay via online transfer or E-Dirham.
Typically within 28 days after the end of the tax period, unless otherwise notified by the FTA.
After each tax period (monthly/quarterly) showing output tax, input tax, and total net VAT due.
Contact Farahat & Co. today for reliable VAT accounting and return filing services in the UAE. Stay compliant, save time, and focus on growing your business.
