VAT (Value Added Tax) Services in Dubai, UAE
Value Added Tax or VAT is a standard taxation scheme that plays a crucial role in the regulation of goods and services across the world. In simple terms, it is a type of general consumption tax on goods and services and has been applicable in many countries worldwide. The government of the United Arab Emirates implemented VAT from 1st January 2018 and made it mandatory for all businesses in and around UAE to comply with VAT registration.
At MPMS, we specialize in offering accounting and VAT services to help businesses successfully process and manage their tax regulations. Our professional team of tax consultants can understand complexities of your business and offer right advice for all your accounting and tax-related concerns. Being the best VAT registration consultancy in the UAE, we offer solutions to help businesses with tax-related matters.
Our VAT Consultancy Services in Dubai, UAE
Processing and managing financial matters can be a challenging task in the United Arab Emirates. Therefore, investing in reliable accounting and VAT services can help businesses solve tax concerns in a seamless.
At MPMS, we have an expert team of the best VAT consultants in Dubai. They understand your tax concerns and provide superior and hassle-free solutions to improve your accounting process. Our accounting and VAT services involve:
- VAT Registration and De-Registration Service
- VAT Return Filing Service
- VAT Transaction Advisory Service
- VAT Impact Analysis and Assessment
- VAT Accounting
- VAT Training
- VAT Implementation
- IT Migration for VAT Compliance
Perks of Being VAT Registered
If you are running a business in UAE, then you should consider VAT registration. Although, some businesses have a choice to not go for VAT registration until they reach a definite compulsory limit. However, there are several benefits of being VAT registered.
VAT Registration Number
The VAT registration number adds great value to your business. Showcasing your VAT registration number on your website and documents can help boost your business. VAT registration helps you improve your brand’s credibility and build trust amongst your prospective customers.
Improve Your Brand Image
VAT registration is not compulsory for your business in the UAE. However, VAT registration has numerous advantages. One of the major advantages of being VAT-registered is that it improves your brand image. VAT registration for your business can make your small business appear more prestigious, credible, and established.
Open New Business Avenues
If you do not register your business for VAT, you may lose profitable deals. A majority of lenders, buyers, and suppliers prefer only to work with companies that are VAT registered. Investing in accounting and VAT registration services in Dubai opens new doors of opportunities for your business and helps you accomplish your business goals.
Increased Cash Flow
VAT registration helps you manage VAT documentation, tax calculation, data reports, account, and more. In simple terms, it streamlines your entire financial system, which eventually increases cash flow.
How to Apply for VAT Registration in Dubai?
The VAT registration procedure is quite simple but sometimes can be tedious too. Investing in VAT filling & accounting services in Dubai, UAE can help you solve all tax-related complexities easily. At MPMS, we offer professional accounting and VAT-related services to help businesses in taxation management.
Our expert team of qualified chartered accountants, tax consultants, and advisors analyse your financial process and offer an effective solution to help you stand out in this highly competitive business world. For more details about the VAT registration process, you may contact our professional tax consultants.
Which Company is Eligible for VAT Registration in Dubai, UAE?
The eligibility criteria for VAT registration is simple. Any company that sells VAT-taxable services and goods must register for VAT. Apart from this, if your company’s export and import value have exceeded 375,000 AED per year, then you are required to apply for VAT registration in the UAE. It is mandatory for businesses that have exceeded the above threshold limit to register for VAT in UAE.
Want to register your company for VAT? Our professional VAT consultants can help!
Frequently Asked Question (FAQs)
Is VAT registration mandatory in UAE?
No, it’s not mandatory for all businesses in the United Arab Emirates. It is mandatory for businesses that have imports and supplies in excess of 375,000 AED per annum, VAT registration is mandatory. However, it is recommended that companies register for VAT to make good of the benefits of VAT registration.
What documents are required to get registered for VAT?
The following documents are necessary to register your business for VAT:
– copy of trade license,
– Emirates ID of the owner,
– passport,
– bank details of the company,
– Memorandum of Association (MOA),
– turnover declaration,
– Other miscellaneous documents depending in the business
Processing all these documents can be a challenging task. Therefore, hiring a VAT registration and consulting company can make the process much smoother. A professional VAT registration company communicates with the tax authorities and helps you throughout the VAT registration process.
How to apply for VAT registration in UAE?
Being a trusted and reliable VAT registration company in Dubai, UAE, we offer solutions to help you get the tax registration number (TRN) hassle-free. Our consultants work with you on documentation and processes to register your business for VAT.
What is voluntary VAT registration?
Clearly, VAT registration is not mandatory for all businesses in Dubai, UAE. However, small businesses voluntarily apply for VAT registration to increase credibility and establish trust among their prospective clients.
Can an individual register for VAT in Dubai, UAE?
Yes, any individual doing business in the UAE can apply for VAT registration.
Want to register your company for VAT? Consult our VAT registration experts.
Is accounting in demand in UAE?
Having a streamlined financial system is crucial for running a business successfully in the United Arab Emirates or UAE. Investing in professional accounting and bookkeeping services can help you improve your company’s financial system which leads to more growth.
What is the difference between bookkeeping and accounting?
Basically, bookkeeping is a base of accounting. In order to prepare financial statements and reports, the information of bookkeeping is used. In simple terms, bookkeeping involves the record of financial transactions and accounting involves the analysis, interpretation, and reporting of financial data.
What are the advantages of accounting and bookkeeping services?
Some benefits of accounting and bookkeeping services are:
- Access to professionals
- Fraud prevention
- Flexibility and scalability
What is the key aspect of bookkeeping?
Some objectives of bookkeeping are:
- To manage and record transactions properly
- To detect errors and frauds
- To prepare financial statements and reports
How does bookkeeping help you run your business?
Professional bookkeeping services can help you keep your business processes organized, prepare for tax returns and minimize your accounting costs.
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