With the increased globalization and growing popularity of Value – Added – Tax (VAT) in UAE it has become more important than ever to have a cohesive strategy in place to reduce the overall tax exposure and optimize cash flow. The VAT framework in UAE is rapidly changing and it can become a daunting task to keep up with the latest developments and if not handled diligently it can lead to unnecessary fines and penalties which can put financial stress on companies. While VAT is not tax on the business itself, collecting the tax and remitting it to the government will have business implications. Supply chains of companies need to be reviewed to understand the impact of VAT.
There are also implications for IT systems. Adapting to VAT will mean updating or upgrading the accounting software and interfaces to correctly capture input and output VAT. Governance frameworks will also need to be reviewed and updated to ensure policies, processes and controls comply as well as continue to comply – with VAT legislations.
Why work with us?
- One – stop solution for all VAT related matters
- Constantly updated with the latest VAT rules and regulations
- Experienced with handling complex VAT related disputes and finding the most effective solutions.
Our wide-ranging VAT Services include: