VAT Services in UAE

Value Added Tax (VAT) opens the door to varied opportunities yet brings challenges to an organization. Considering the complexity, VAT is one arduous tax system for companies to handle. Also known as Good and Services Tax (GST), VAT is a form of an indirect tax applied for goods or services consumption.

In every stage of the supply chain, VAT is levied and collected on behalf of the government. Generally, a company may find it hard to cope with this VAT tax and that’s where Standard Auditing can turn all the procedures legal and manage records to prepare VAT return filing. Our tax experts who are professionally experienced can guide you from time to time.

Application of VAT

• When annual turnover exceeds the fixed threshold limit of AED 375,000, then it indicates that you need to pay this tax.
• To continue with the normal compliance process, business people can do Voluntary registration of VAT for the threshold limit of AED 187,500/- per year.
• Three types of rates are applicable – Standard rate (5% VAT), Zero rates, and Exempted.
• Some of the areas that are exempted from VAT are residential properties, local transport passengers, bare land, and the supply of particular financial services.

Standard Auditing will act as a guide to your Accounts department and update them with up-to-date VAT progress. As per VAT requirements, our VAT consultants will give a hand to your team in structuring internal VAT operations effectively.

Standard Auditing covers all the aspects of VAT like:

1. VAT registration
2. VAT accounting
3. VAT return filing
4. VAT training
5. VAT voluntary disclosure
6. VAT consultancy
7. VAT audit
8. VAT Deregistration

Our professional tax agents who are certified by the Federal Tax Authority will make sure of the tax compliance system and help you avoid fines & penalties. Having been aware of all the rules and regulations of the tax system, Standard Auditing carefully assists businesses for hassle-free implementation of VAT in the UAE.