VAT Advisory Services
VAT Advisory Services in UAE
FTA administers and manages VAT (the indirect tax on consumption of goods and services) in the UAE. Since its introduction in 2018, it has had several implications for businesses. It has also increased the complexity of VAT transactions. That is where it gets difficult for VAT registrants to achieve VAT Compliance and VAT Advisory services come into the picture.
It is crucial to remove all this confusion and have a better understanding of VAT’s impact on your business. So, you need a guiding hand to help you understand VAT and obligations for your business. FAME Advisory is one of the most prolific providers of Tax Advisory and Tax Compliance Services in the UAE. We provide professional VAT advisory to all our clients to ensure compliance and avoid VAT disputes.
We help you understand the impact of VAT on your transactions.
For this, we manage the following:
- Check your VAT procedures
- Assess the format and structure of VAT documentation
- Analyze your industry of operations
- Evaluate your business processes
- Contemplate the typicality of transactions
All this analysis helps us in understanding the VAT impact on your business operations. Based on this, we provide valuable advice.
Your VAT compliance needs our guidance and supervision.
Contact our expert VAT advisors for a VAT compliance strategy.
All About Our VAT advisory services in Dubai
FAME is a trustworthy provider of VAT advisory services in Dubai. We have been providing comprehensive VAT advisory to clients across the UAE. We help businesses understand VAT, calculate accurate VAT liabilities, and follow its regulations.
Businesses find complying with VAT obligations and managing their transactions a big challenge. Moreover, analysis becomes more challenging with:
- Addition of new services
- Introduction of new transactions
- Advent of new business scenarios
- Adjustments in supply chain arrangement
- Expansion to other geographies
It becomes difficult to understand the impact of VAT. This is where an expert VAT advisory partner like FAME helps you.
Our esteemed VAT transaction advisory services include an assessment of your VAT eligibility. It also includes evaluating your business model to identify the applicable VAT rates. We also study the transactions to ensure the correct VAT treatment of each.
Checking your VAT health is also crucial to our VAT advisory in Dubai.
Our two primary VAT advisory services in the UAE include the following:
VAT Impact on Proposed Transactions and Obtaining Clarifications
One of our critical VAT transaction advisory services in UAE includes understanding the VAT impact on proposed transactions and obtaining clarifications from the FTA. FAME helps you understand the implications of VAT on your existing and new transactions. This enables you to achieve compliance with applicable VAT regulatory requirements.
Our VAT consultants help you with the following:
- Classifying taxable supplies, specifically in the case of tripartite supply transactions.
- Identifying expenses on which input VAT recovery is blocked or not conducted in the ordinary course of business.
- Handling the computation of VAT for cross-border and outsourcing transactions. Different rules of indirect taxes in other countries involved in the transaction lead to the ambiguity.
- Understanding VAT implications and calculations for VAT group companies to ensure accuracy
We advise you on all relevant matters to ensure proper reporting of VAT transactions. We also communicate with the FTA to get clarifications on specific business matters. Thus, our VAT advisory in Dubai facilitates better and faster compliance with VAT regulations.
VAT Health Check Services
VAT regulations need creating and maintaining proper records and accounts for VAT transactions. You need to remember the deadlines for necessary VAT submissions and ensure accuracy in them. Any errors or delays in these requirements might lead to penalties. So, a solution, in this case, is to conduct regular reviews of your VAT procedures and compliance steps.
FAME’s VAT transaction advisory services in UAE include such VAT health check services. Through these checks, we identify the loopholes in your VAT compliance. We identify the areas where you need to pay more attention and improve them.
We conduct a thorough assessment of the following:
- VAT returns and match them with annual accounts for reconciliation
- Accounting records and documents to check their format, accuracy, and completeness
- VAT treatment of sales
- Voluntary disclosure forms
- VAT calculations based on tax invoices
We review all the VAT documents to check against the most typical mistakes made in VAT compliance. Our advisory services help you rectify the errors in time before its FTA calls for investigation. These services include, Tax Clearance Certificate, VAT Audit Services, VAT Return Filing, and others. We advise you on necessary improvements to save your tax money legally while complying with all VAT regulations.
Thus, we assess every transaction related to VAT to see your compliance with it. It is also necessary to check the procedures for attaining compliance because any error in those would affect the entire VAT compliance journey. After analysis, we take corrective actions to improve the VAT procedures so that your VAT compliance becomes faster, easier, and smoother. We also provide VAT Representation and Litigation Support Services for further support.
Concerned about your movement in the right direction of VAT compliance?
Fret not because FAME’s VAT transaction advisory services ensure the right steps ahead.