From 1 January 2018, the UAE will commence charging VAT. Businesses must prepare in advance in order to remain compliant with the regulations. Failure to comply will result in potentially large fines or even the suspension of your trade license.
TSA Advisory can help your business prepare for the implementation of VAT in the UAE.
We provide bespoke advice on how to get your business ready for VAT.
The GCC VAT model is based on the system implemented in EU. With our experience working in both the UK and UAE we can help you understand and be fully prepared for VAT.
We start by understanding your business in order to identify where and how VAT will impact your business.
We look at your bookkeeping and accounting practices, your purchasing and sales cycles, your existing contracts, your company structure as well as your house expertise.
We then provide you with all of the VAT rules and regulations relevant to your business followed by an explanation of what those rules mean for you and how to implement them in your business.
We will guide you on the requirements for VAT registration and identify if you qualify for a VAT Group in order for obtaining your Tax Registration Number (TRI) as well as how to compute your VAT return.
We will ensure that you maintain proper accounting records and are prepared in case you are required to undertake a VAT audit.
TSA Advisory will work closely with you to help you avoid paying fines and penalties for noncompliance with the VAT regulations.