VAT Consultancy

VAT is an indirect tax system adopted by more than 160 countries around the world, in January 2018 the UAE decided to apply the same 5% tax in the country, and this action has required all companies subject to the tax range to comply with the tax system guidelines and mandates.

The Federal Tax Authority requires companies that meet the requirements to register in the VAT system to ensure that they comply with the new system and submit VAT returns on time.

If you are doing business in the GCC countries, VAT will have a direct and fundamental impact on all your company's transactions, and to save the company's rights to recover the tax values paid, you must first register with the Federal Tax Authority and then report periodically and properly to ensure the recovery of the company's tax payments.
ASMK's tax services include:

Assessing the impact of VAT and prepare a comprehensive report explaining how the company deals with each of its revenue and expenses items.

Registration of companies in the Federal Tax Authority.

Preparing and submitting VAT returns on a regular basis.

VAT Impact Assessment

VAT impact assessment service is an explanation of all points affecting your company's transactions, and its purpose is not only to clarify the potential financial impact of this tax on your business, but also provides you with a road map to help you apply VAT efficiently and effectively as it is a comprehensive explanation of how to deal with all areas of revenue and expenses based on the nature of the company's work.
ASMK provides you with clear and accurate VAT impact assessment services while training your employees on how to handle potential corporate tax transactions easily.

VAT Registration

VAT applies to the majority transactions of goods and services and only a limited number of institutions such as health care and education may be exempt from paying these taxes and companies must register for VAT if their taxable revenue exceeds the mandatory registration threshold of AED 375,000.
Companies may register for VAT voluntarily if their taxable import and export is below the mandatory registration threshold but exceeds the voluntary registration ceiling of 187,500 AED.
Similarly, a company may register voluntarily if its expenses exceed the voluntary registration threshold as this last opportunity for voluntary registration has been provided so that startups that do not have turnover can register for VAT.
Failure to register accurately and completely may result in a delay in the issuance of the Tax Registration Number (TRN) and possibly administrative fines.

VAT registration is important and if you are claiming your
allowable expenses, register your business now .

ASMK provides its customers with registration services in the value-added tax system after reviewing the status and financial position of the company to determine whether the registration is required from out of absence, as our company carries out the following activities to ensure customer satisfaction:

Assessing the impact of VAT and prepare a comprehensive report explaining how the company deals with each of its revenue and expenses items.

Providing advice on the dates and types of VAT registration.

Guiding customers about documents and information required to register for VAT.

Providing translation services as required.

Reviewing all VAT registration materials.

Preparing and presenting all application forms.

Preparing applications and documents sending processes through government web portals

Managing all correspondence with tax authorities.

Managing the VAT compliance process.

VAT Return

If you are a business owner registered with VAT, you must submit VAT statements which must provide details of your inputs and outputs during tax time and therefore you can claim a vat refund paid by your registered VAT company and collect the equivalent of 5% of your taxable payments.
Have you submitted a VAT declaration?
ASMK Consultants can support you to meet your VAT responsibilities whether you have just started your business or have been in the labor market for a long time.

ASMK wants to hear from you .

Accounting services are the first stages of financial organization in companies, and that service is one of the strongest features of ASMK because of its experience in the accounting work that it provides to its clients due to wide experience of its teamwork in the field of accounting.

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