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A VAT (Value Added Tax) is an indirect tax implemented in the United Arab Emirates from January 1, 2018. The new VAT legislation has significantly impacted the UAE’s company operations and their tax matters. The delivery of various goods and services, such as food, hotel services, commercial structures, and so on, is subject to a standard rate of VAT of 5%. It is a requirement for all enterprises whose taxable supply exceeds the Federal Tax Authority’s (FTA) threshold margin to register for UAE VAT. If firms in the UAE do not comply with the revised VAT legislation, they will face fines under UAE law.
As a result, it’s critical for every firm in the UAE to understand the VAT regulations and their current effects on the company operations and transactions. Businesses must register under UAE VAT law. They are liable to file VAT returns within the FTA’s deadlines and claim VAT refunds if they fulfill the eligibility conditions. Suppose you find that your company is unable to comply with the newly implemented VAT legislation. In that case, you should seek assistance from FTA-certified tax organisations such as Shuraa Tax Consultants and Accountants.
We claim to be the greatest in the field of Tax consultants, promising to listen to all of your tax and financial concerns and deliver appropriate solutions. Our staff consists of knowledgeable and highly experienced tax agents, experts, and advisors armed with the most up-to-date knowledge of UAE regulations. We also provide dependable VAT and other taxation services.
Shuraa Tax Consultants and Accountants is the ultimate solution to your concerns if you seek complete tax administration, VAT accounting, and advisory services. Our other taxation services include International Taxation, Tax Residency Certification Assistance, and Economic Substance Regulations, UAE services. Please speak with one of our agents for immediate assistance with your financial transactions, and you’ll be able to boost your company’s production and efficiency.
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