We organize awareness programs on VAT in the UAE and GCC VAT Agreement by the Tax experts for.
Based on the organizational structure and need of the management and accounts & finance department, we provide training on Value Added Tax (VAT) to all the personnel of the organization who are coming under VAT compliance chain. The training to finance and accounts and IT personnel are in detail for applying the VAT concepts and for clarifying the procedural formalities required for complying the requirements. Training for managerial and other departments levels are made for giving proper awareness of VAT structure and overall VAT compliance requirements.
The experts in VAT undertake the followings steps for successful implementation of UAE VAT in your company.
a. Understand the business model:
The TAX experts/ VAT Experts visit your office to understand the business model for designing a VAT
Implementation plan which suits for the UAE VAT Regulations for your business.
b. Registration for VAT:
To comply with the law of the land with respect to VAT (UAE VAT Law), we advise regarding the procedural formalities and the date by which registration has to be made, considering whether the company got any exemption in this respect or not.
c. 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 UAE VAT requirements, we study the impact on business on working capital, costing and profitability.
d. Managing the VAT transaction process:
For shifting the transactions into UAE VAT compliance and to function smoothly and in a timely manner, we will select a responsible person/team from the company to be the head of the VAT Implementation.
e) Accounting systems under VAT
The present accounting systems will be scrutinized. Proper classification/ grouping with appropriate chart of accounts suitable for VAT regime will be suggested. Necessary guidelines will be given to the accounts team for preparing the VAT return to the Federal Tax Authority (FTA).
f) Invoicing under VAT
The requirements of VAT invoicing under the UAE VAT Law will be implemented. Proper guidance will be given to the IT persons and proper training to the Accounts and other departments connected to sales.
g) IT Migration
In order to incorporate the changes in the billing, accounting and other administrative procedures to comply UAE VAT formalities, necessary guidance or information required for the Organization
h) 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 liability with guidance on planning/better timing of cash flows.