Avail VAT & Bookkeeping Services in Dubai, UAE
UAE is known for its tax benefits across the world. Recently in 2018, VAT reforms were introduced here. Since then, every company operating here needs to have VAT registration in UAE. The VAT reform has changed the business environment in the country for all individual and corporate business holders. The Federal Tax Authority takes the VAT regularities and compliance care. It’s not just UAE; other GCC countries have also introduced VAT since 2018. Apart from business setup services in UAE, Business Link UAE offers assistance with VAT services and Bookkeeping services in UAE
VAT criteria in Dubai
At present, 5% VAT is applicable on all transactions. There are some exemptions on selected services under financial service and local transportation etc.
For taxable supplies and import, every business in UAE needs to register itself for VAT. In the case of supply chain, the VAT is charged at each step. The companies must record each transaction and get their accounts audited periodically to avoid any default with VAT regulations. The government has categorized VAT applicants under 3 categories
- Businesses with a turnover of AED 375000 and more
- Businesses on the margin but below the specified amount
- No VAT registration for businesses with a turnover of less than AED 187500
List of Documents Required for VAT Registration in UAE
For VAT registration, the business needs to have following documents
- Trading license
- Company registration certificate or certificate of incorporation
- Emirates ID proofs and contact details
- Passport copies
- Company’s MOM and AOA copy
- Bank account details
- Business account details of turnover information
- Office setup details, address and more
- List of shareholders/ directors and their businesses.
Along with the above documents, you also need to submit few documents for Tax registration number such as
- List of business activities
- Financial transactions average calculations
- Expected turnover details in the coming month
- Transactions related to import or export of goods
- GCC activities details
- Customs registration details
How Business Link UAE helps in VAT & Bookkeeping Services?
We have experienced and dedicated teams of CPA and CIA who will clarify all VAT related queries and doubts related to IFRS law. We have been in the consultancy business for over a decade and offer VAT registration service, VAT management and accounting service, auditing service in Dubai and more. We are here to answer question-related business and VAT services. We check for you that the company is registered under the right business domain, including DED, RERA, WIPO or DEFM. Business Link UAE is expert in VAT laws and auditing services. Our VAT consulting service is one of the best in the UAE. With us, you get
- Trained and qualified staff
- Clear working of each step details
- Support in niche areas
- End to end solution
In addition to VAT, we are popularly known for our visa and licensing support and assistance in business opening in Dubai and all documentation support.