Our FTA compliant VAT Services in Dubai cover VAT audit, VAT Registration, VAT Return Filing, VAT Refund, VAT Consultancy, VAT Accounting and VAT De-Registration. It is one of the top-ranking audit firms in Dubai renowned for its top-notch financial planning and services for individuals and organizations.
VAT was implemented in 2018 at 5% on all goods and services. Most VAT service providers in Dubai are acclaimed by the Federal Tax Authority, and the services include VAT Registration and De-Registration, Return Filing, Voluntary Disclosure, VAT Training, Auditing, Consultancy, and Reconsideration.
Businesses in UAE face various confrontations in the case of managing the VAT and they seek the best VAT service provider in the UAE. VAT is utilized in every phase of business and the customer is ultimately affected by VAT. In a nutshell, we can say that businesses collect VAT on behalf of the government.
This session covers the top VAT services provided by BMS.
Types of VAT Services in Dubai
BMS Auditing provides the best VAT services in Dubai. Our service covers all the types of aspects of VAT to help you with including,
- VAT Registration
- VAT Return Filing
- VAT Refund
- VAT Accounting
- VAT Audit
- VAT Consultancy
- VAT De-Registration
You must register for VAT if the taxable product and imports cross the margin of AED375,000. Moreover, you could choose to voluntarily register for VAT wherein the total value of the taxable product exceeds the voluntary registration margin of AED187,500. BMS ensures that the businesses eligible for the Tax Registration Number (TRN) must obtain the TRN on time.
Return Filing for VAT is mandatory and inevitable for every business. Once registered to VAT it is important to file a VAT Return and make respective payments within 28 days after the tax period ends. If you fail to file a VAT Return on time or present the incorrect Return Filing, your business will likely bear the VAT fines or face a VAT Audit from the FTA. BMS Auditing provides quality and prompt services for VAT Return Filing.
Input VAT is the payable tax on goods and services purchased by the business, while output VAT is the tax collected on the goods sold by the business. When your business pays more tax than the tax collected from customers you can claim a VAT Refund. BMS Auditing assists your business with quality services on VAT Refund with various Refund applications.
Every business should maintain appropriate records to file VAT Returns, such as Local Sales under VAT, VAT Exempted Sales, Local & Import Purchases, Zero-rated Export Sales, etc. BMS ensures that you have the required documents and reports necessary for the VAT Accounting process to minimize risks of fines.
VAT Audit is mandatory in all businesses in Dubai. Being a business owner, you must adhere to a checklist before you start the audit. BMS provides the necessary guidelines on VAT Audit which include the gathering documents required for the Audit.
Consultants support businesses to stay compliant with the laws since the VAT implementation in Dubai. Our VAT Consultants in Dubai provide effective tax planning, enabling better control of tax outflow and monitoring working capital.
This service in the UAE enables your business to cancel your VAT registration and terminate the Tax Registration Number (TRN). You may note that the VAT de-registration process is performed online. You can de-register from VAT only if your business is registered under the Federal Tax Authority (FTA). BMS Auditing helps you with the de-registration process from the FTA, without being charged any fines or penalties
For queries regarding any of the VAT-related services, contact BMS Auditing Dubai for assistance.