VAT Services - Taxfy

VAT (Value Added Tax)

VAT (Value Added Tax) is a form of an indirect tax that was introduced in the UAE on 1st January 2018. VAT is a transaction-based indirect tax that is levied at each step of the supply chain. End consumers generally bear the VAT cost while registered businesses collect and account for the tax, in a way acting as tax collectors on behalf of the federal tax authority.VAT is used in more than 180 countries around the world. All OECD countries except the US have VAT.

It is essential for businesses to understand any obligations they may have under the UAE VAT legislation. The responsibility lies with the business to ensure that any required compliance obligations are fulfilled.

To fully comply with the UAE VAT legislations, businesses may need to make some changes to their core operations, financial management, and bookkeeping. It is essential that businesses try to understand the implications of the VAT regulations and make every to align their business model to government reporting and compliance requirements.
Our accredited tax agents, with their expertise in the UAE tax regime, will help you identify areas of high risk and suggest the best ways to comply with the regulations.

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    VAT ConsultancyBuilding a successful business and worrying about compliance and regulations can be overwhelming. It is important to focus on what you are good at and allow us at Taxfy with our experienced tax team to guide your business through the VAT compliance and tax planning with tailored advice.
    VAT RegistrationWorried about VAT registration? VAT registration is mandatory for companies and individuals doing businesses in the UAE after meeting certain turnover. Our Tax experts at Taxfy can ensure that your VAT registration is completed accurately and in timely manner.
    VAT De-registrationBusinesses in the UAE registered for VAT might be required to de-register from VAT in case are no longer meeting the conditions required for VAT registration. Our Tax experts at Taxfy can provide you with professional support with your de-registration process.
    VAT Return FilingVAT registered businesses or individuals are required to submit VAT return in the UAE to the Federal Tax Authority (FTA) after the end of each VAT Return period allocated by the FTA. Taxfy can be your trusted tax expert by ensuring your compliance with the VAT returns and avoiding any penalties that might result from incorrect VAT return.
    VAT Health CheckAs per the Federal Tax procedures, the FTA is conducting audits to ensure the enforcement of the tax law. In case of discrepancies, an assessment will be issued with applicable penalties. VAT Health Check is a type of VAT audit to identify the effectiveness of the VAT procedures and controls by reviewing and analyzing the VAT returns and supporting documentation. The VAT Health Check allows a business to diagnose any inaccuracies in the VAT returns and proceed with amendments to avoid any penalties by the FTA. Our accredited Tax agents at Taxfy are experienced with FTA audits, can conduct VAT Health check for your business, and advise you about the areas of risk and the most effective way to achieve your compliance.
    VAT Voluntary DisclosureA voluntary disclosure is a form by which the taxpayer notifies the FTA of any error or omission in a tax return, tax assessment or tax refund. Before making any voluntary disclosure it would be recommended to sick professional assistance from our experienced tax consultants at Taxfy.
    VAT AppealsAre you facing tax penalties? Are you feeling that you are wrongly penalized? Do you know that penalties levied on taxpayers can be challenged through appeal process? Our experienced tax agents can support you during the whole appeal process. VAT Reconsideration: Taxpayers have the right to submit a reconsideration application to the FTA requesting to review each decision. Appeal to TDRC: If you are not satisfied with the reconsideration decision the tac procedure law gives you the right to challenge the FTA’s decision by appealing to the Tax Dispute Resolution Committee (TDRC).
    VAT RefundsWhen the input tax is higher than the output tax in VAT returns the taxable person has the right to request for VAT refund from the FTA. VAT refund can be a complicated and time-consuming process which can affect the business’s cash flow. We at Taxfy are experienced with VAT refund process and requirements and can complete your refunds in the most efficient and quick way possible.