The VAT laws in UAE were imposed from 1st January 2018 and since then they have left a huge impact on business dealings and financial transactions. VAT regulations have changed the overall tax environment in UAE as now a standard rate of VAT i.e. 5% has been levied on the supply of various goods and services. It’s compulsory for all businesses whose taxable supplies exceed the mandatory threshold i.e. AED 375,000 and voluntary registration threshold i.e. AED 187,500 to register for UAE VAT as per the Federal Tax Authority (FTA) guidelines.
The procedure for VAT registration is carried on the official website of the FTA. According to the UAE law, if a taxable business fails to follow the newly-imposed VAT laws, then they’ll be subjected to pay fines & penalties. The list of fines and penalties is approved by the FTA and includes fines more than AED 500 only. Therefore, to avoid penalty situations, firms should hire efficient VAT consultants in Dubai. They help you stay abreast of the variating tax laws and policies in UAE. With proper guidance from the VAT consultants in Dubai, the chances of a firm to pay a fine or face any other unwanted situation related to tax will ultimately come down to null.
Shuraa Tax Consultants and Accountants is one such tax agency of Dubai which works towards meeting all kinds of taxation needs and requirements of its clients. Housing an excellent team of accountants, consultants and tax agents in UAE, Shuraa Tax will help you to minimize your tax burdens and optimize your company’s growth. Our experienced and highly educated consultants, accountants and tax agents will guide you with VAT registration, return filing, refund application and timely compliance. We are an FTA certified tax agency that promises to hear all your tax-related concerns and provide you with accurate & reliable solutions.
Shuraa Tax is the best consultancy and advising agency in UAE, providing our customers with high-quality VAT services whether related to registration, accounting or bookkeeping and MIS reporting. Our ultimate aim is to guide, assist and solve the problems of our clients and help them efficiently tackle their business operation and financial dealings in the most optimized manner. Trust our highly experienced team of tax agents, accountants and consultants who with their outstanding knowledge about the UAE’s law will offer 100% assured assistance, guidance, and solutions.
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For making general inquiries about VAT registration and return filing or any other tax-related query that’s been bothering you for a long time, contact Shuraa Tax Consultants and Accountants and wear away your worries and concerns regarding VAT in UAE. You could even get in touch with us through our online chat support option or simply call/email us.
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