VAT is considered as a mandated consumption tax on goods and services. Being registered under the VAT law defines that your business is recognized by the government. We assist you in maintaining VAT records and track information regarding VAT payment to avoid unnecessary tax payments. Our team understands the business complexities ranging from accounting, taxation and VAT services, providing the best VAT consultancy services in UAE.
How VAT works,
Due VAT=Output VAT-Input VAT
VAT Consultancy Services by KLOUDAC
We offer comprehensive VAT consultancy with VAT Experts and VAT return filing solutions to companies all over the UAE.
VAT Registration
We Offer VAT Registration Services with Our Team of Qualified VAT Experts. Registration of business entities for VAT depends on the revenue and expenses generated by the business.
VAT Return Filing Service
VAT Registered entities need to file the VAT return monthly or quarterly, for this entities need to record their sales and expenses properly as per FTA compliance, we help to do this process more smoothly so you can avoid penalties
VAT Consultancy
We understand the business complexities ranging from accounting, taxation and VAT services. Our VAT team provides client-focused advisory services on local and international matter leveraging technology-enabled solutions.
VAT Deregistration
VAT Deregistration can cost your business if the application is not submitted within the time frame. We can assist your business in applying for the cancellation of tax registration number and ensure that the entire process is carried out smoothly.
VAT Training for staff
We offer customized and tailor-made training services to individuals and corporates on VAT laws and regulations to ensure that you are dealing with VAT correctly.
VAT Transaction Advisory
Vat transaction advisory services are about guiding your business with regard to specific industry transactions. This might be more relevant to companies having complex transactions, products, and branches.
VAT FAQ
Value Added Tax or VAT is a tax on the consumption or use of goods and services levied at each point of sale. VAT is a form of indirect tax and is levied in more than 180 countries around the world. Value Added Tax (VAT) was introduced in the UAE on 1 January 2018. The rate of VAT is 5 percent. VAT will provide the UAE with a new source of income which will be continued to be utilized to provide high-quality public services. Every business that has taxable expenses amounting to AED 375, 000 yearly should register their business.
To check out more on guidelines, references, and public clarifications from the Federal Tax Authority. Click here
Businesses can register for VAT through the eServices section on the FTA website. However, they need to create an account first. For more details about VAT registration, please read VAT registration User Guide (PDF).
VAT, as a general consumption tax, is expected to apply to a majority of transactions in goods and services consumed in the UAE. However, a limited number of exemptions have been granted by the UAE government. This could take the form of applying a ‘zero rate’ of tax or treating the supply as ‘exempt’. See Exempt and Zero Rated Conditions for further explanation.
VAT applies equally to tax-registered businesses managed on the UAE mainland and in the free zones. However, if the UAE Cabinet defines a certain free zone as a ‘designated zone’, it must be treated as outside the UAE for tax purposes. The transfer of goods between designated zones is tax-free.
At the end of each tax period, VAT registered businesses or the taxable people must submit a ‘VAT return’ to Federal Tax Authority (FTA). A VAT return summarizes the value of the supplies and purchases a taxable person has made during the tax period and shows the taxable person’s VAT liability. Before filing the VAT return form on the portal, make sure you have met all tax returns requirements.
Taxable businesses must file VAT returns with FTA on a regular basis and usually within 28 days of the end of the ‘tax period’ as defined for each type of business. A ‘tax period’ is a specific period of time for which the payable tax shall be calculated and paid. The standard tax period is:
- quarterly for businesses with an annual turnover below AED150 million
- monthly for businesses with an annual turnover of AED150 million or more.