Value Added Tax (VAT) was introduced in UAE on 1st January 2018. The Federal Tax Authority (FTA) is responsible for all administrative and collection of taxes in the UAE.
Although the VAT implementation is done, the VAT law is evolving. There are many changes happening. A lot of notifications, circulars and press releases are happening all the time. There are lot of typical situations which are getting fine tuned by the law makers. Corporates need a lot of opinion and day to day consulting support with regard to UAE VAT Law.
Our Indirect tax professionals with their wide-ranging experience and in-depth knowledge on the subject can help clients in all the above aspects. We provide advisory and compliance services related to VAT and also on the pending tax and litigation matters related to the VAT Law.
On which businesses does VAT apply?
VAT applies equally on all the businesses managed on the UAE mainland and in the free zones. However, the UAE Cabinet defines a certain free zone as a ‘designated zone’, it must be treated as outside the UAE for tax purposes. The transfer of goods between and within designated zones are tax-free.
A specialized team of Indirect taxes at RVG efficiently accomplish the VAT.
VAT registered businesses or the ‘taxable persons’ must submit a ‘VAT return’ to Federal Tax Authority (FTA).
All the registered business are required to file a VAT return furnishing the details of sales.
UAE VAT reconsideration allows a taxable person to appeal for the review of the decision made by FTA.
VAT Audit in UAE is the review performed by the Federal Tax Authority (FTA) in order to verify.
VAT Transaction advisory services are all about guiding an entity about specific transactions.