+971-4-262 40 23 | [email protected]
 

VAT & Financial Consulting

Decision Management Consultants (DMC) is established in Dubai since 1990 and is also licensed to practice VAT/Tax Consultancy along with our other related business services

VAT-related responsibilities of businesses

All businesses in the UAE will need to record their financial transactions and ensure that their financial records are accurate and up to date. Businesses that meet the minimum annual turnover requirement (as evidenced by their financial records) will be required to register for VAT. Businesses that do not think that they should be VAT registered should maintain their financial records in any event, in case we need to establish whether they should be registered.

VAT-registered businesses generally:

  • Must charge VAT on taxable goods or services they supply;
  • May reclaim any VAT they’ve paid on business-related goods or services;
  • Keep a range of business records which will allow the government to check that they have got things right

DMC provide accounting guidance/supervision along with VAT registration/VAT return filing assistance.

 

  • Proper checking of the accounts and will guide the Accountant how to maintain proper accounts.
  • Rectify Accountant mistakes
  • Telephonic support to Accountant on various Accounting issues
  • Submission of Monthly Reports such as Income statement, Balance Sheet, Stock Report, customer and suppliers’ position with aging analysis and cash flow position.

VAT related services including the following:

 

  • VAT Implementation Services
  • VAT Planning services
  • VAT Online account creation services
  • VAT quarterly filing services
  • VAT Audit preparation services
  • VAT Record Keeping after FTA requirement
  • VAT Compliance
  • VAT Book Keeping Services.
    • Understand the business model
    • Registration for VAT
    • Analyzing the impact of VAT on your business
    • Managing the VAT transaction process

Registration

Registration of the business for VAT with Federal Tax Authority has been started from October 1st, 2017.

All businesses with a turnover exceeding AED 10M should apply for VAT registration before 30 November 2017.

All businesses that must be registered by 1 January 2018 should submit their VAT registration applications before 4 December 2017 to minimize the risk of not being registered in time for the beginning of the New Year.

Please feel free to call us on +97142624023 for any clarification or email us on [email protected]