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VAT Return & Refund Filing Services

We Provide VAT Return & Refund Filing Services in UAE by Qualified Accountants at Affordable Fee.

Overview

Focus more on your Business; outsource your VAT Compliance to the Tax Experts. With the use of latest cloud-based tax preparation software, We are here to help you to focus more on your business by taking care of your complete taxation requirements. We have proven experience of reducing client’s compliance cost by 60% and increasing their business productivity by 40%.

Our team of qualified Tax Consultants is fully equipped with all knowledge and expertise to help your business grow by simplifying all your Accounting, Audit, Tax and Statutory Compliance requirements. Moreover, providing financial information to our clients in a timely and accurate manner is a commitment that we feel cannot be compromised. Meaningful, well-organized financial and tax records ensure that your business operations will run more efficiently on a daily basis.

Vat

What is VAT return filing?

Every VAT registered business/individual in UAE need to file VAT returns and pay VAT (if due) as per there tax return periods allotted to them at the time of VAT registration. VAT returns need file on regular intervals which can be quarterly/monthly as the federal tax authority may deem fit. VAT201 – VAT return is an official document through which a tax registrant submits the details of his sales, purchases and expenses to the Federal Tax Authority (FTA) in the UAE.

Why VAT return filing is important?

As per VAT law, all VAT registrants mandatorily need to file VAT return and pay due VAT (if any) on or before due date allotted to respective business/individual at the time of VAT registration. As it is a statutory requirement all VAT registrants need to comply the same to avoid penal proceedings. We have seen many business paying heft penalties due to non-compliance/wrong compliance of VAT Law; it is advisable to consult with a VAT expert or tax professional before filing the VAT return.

VAT refund filing compulsory or optional?

The Federal Tax Authority (FTA) gives VAT registrant two options first to claim VAT by filing VAT311-VAT refund and second to keep VAT refund balance with FTA to settle future VAT liabilities. It is not compulsory to file VAT311-VAT refund, also there is no penalties associated with non-filing of VAT311-VAT refund form. VAT registrant need to assess their VAT transactions, Cash Flow, future VAT liabilities etc. before filing VAT refund to the FTA. For example, if a business is only into exports (under zero rated supplies) and pays VAT on local purchases and/or expenses for making such exports then that business will always be in the refundable position and must file VAT311-VAT refund to claim VAT.

What are the penalties associated with VAT return filing in UAE?

Non-Filing or Late Filing of VAT Returns: If a VAT registrant fails to file VAT return or files VAT return after due date then he will face a penalty of AED 1,000 for the first time and AED 2,000 on every repetition.

Late Payment of due VAT as per the filed VAT return: If a VAT registrant fails to pay the due VAT as per the filed VAT return, he will face following time-based penalties;

  • (2%) of the unpaid tax is due immediately once the payment of Payable Tax is late;
  • (4%) is due on the seventh day following the deadline for payment, on the amount of tax which is still unpaid.
  • (1%) daily penalty charged on any amount that is still unpaid one calendar month following the deadline for payment with upper ceiling of (300%).

What is VAT refund Filing?

If in the filed VAT201 – VAT return, VAT on purchases and expenses are more than VAT on sales (VAT refund position) then VAT registrant need to file VAT311-VAT refund in order to claim back VAT from the FTA. Along with VAT311-VAT refund form VAT registrant need to submit complete details of sales, purchases and expenses in a prescribed format along with scan copies of invoices and bills.

Why should VAT registrant hire Tax Consultant or Outsource VAT filing in UAE?

Apart from reporting taxable sales, purchases, expenses, imports and exports in VAT201-VAT return there are many other factors need to be taken care of such as emirates wise reporting, categorization of supplies, supplies subject to reverse charge provision, adjustments to goods imported into the UAE, adjustment for VAT on bad debts, identification of claimable and non claimable input VAT, proper maintenance of tax records, etc.

Tax professionals like us are expert in their domain and knows each aspect of tax compliance. VAT registered business/individuals can avoid errors, non-compliance and paying hefty penalties by outsourcing their VAT compliance to the tax experts.

Vat Registration

Detailed Draft VAT Return (VAT-201)

We will provide you a detailed draft VAT return (VAT201) in the format specified by the UAE Federal Tax Authority (FTA) before filing of your actual VAT return to avoid wrong filing and associated penalties.

Detailed Draft VAT Refund (VAT-311)

We will provide you a detailed draft VAT refund (VAT-311) in the format specified by the UAE Federal Tax Authority (FTA) before filing of your actual VAT refund to avoid wrong filing and associated penalties.

Benefits of outsourcing VAT Compliance Services

Being a business owner or a manager for your company can sometimes means you are the one keeping an eye on everything. Being responsible for your company’s success and making sure everything happens as you have envisioned, is a tough job that you do well. But there is one specific area that should be the same for all companies, something that is only correct without any creative input which is statutory compliances. The Top of five benefits of outsourcing VAT Compliance Services are:

Reduction-in-business Cost

Reduction in Business Costs

By outsourcing VAT Compliances business can reduce their operation cost and avoid the costs of hiring full time tax professional. At the same time business can gain access to external expertise of qualified professionals that the business could not manage to pay for otherwise.

Productivity

Increase in Productivity

By outsourcing VAT Compliances business owners/management can focus more on core income generating activities and can rest assured that the VAT compliance responsibilities will be completed on time by the tax experts.

Compalince

Timely Compliances and Avoidance of Associated Penalties

Meeting all mandatory compliance requirements and avoiding associated penalties is another benefit of   outsourcing accounting and bookkeeping. Businesses can gain peace of mind as qualified experts in the field of taxation will take care all of their statutory compliance requirements, such as filing of VAT return and other statutory compliance requirements on timely basis

Expert Advice

Access to Expert Advise

While hiring a full-time tax professional will be costly. By teaming up with accounting firm, businesses can feel confident that only the most qualified experts are handling their taxation in an unbiased and objective manner. Services are often tailored and scalable to bring you the right expertise at the right time for greater flexibility across the board.

Vat Registration

Access to Right Information at Right Time

By outsourcing taxation function not only businesses can get their complete tax records but at same time businesses can gain access to right information at the right time to take bold business decisions. Like expected tax payments, VAT refund/payable position, taxable turnover and many more.

Pricing

Simple and affordable pricing!

Starter
AED 499/Quarter
Up to 100 Transactions Per Quarter

Detailed VAT Reporting

VAT Return Filing

VAT Refund Filing

Assistance in VAT payments

VAT Consultancy by Qualified VAT Expert

VAT return filing reminders

STANDARD
AED 999/Quarter
Up to 250 Transactions Per Quarter

Detailed VAT Reporting

VAT Return Filing

VAT Refund Filing

Assistance in VAT payments

VAT Consultancy by Qualified VAT Expert

VAT return filing reminders

PREMIUM
AED 1,499/Quarter
Up to 500 Transactions Per Quarter

Detailed VAT Reporting

VAT Return Filing

VAT Refund Filing

Assistance in VAT payments

VAT Consultancy by Qualified VAT Expert

VAT return filing reminders

OUR PROCESS

STEP 1

Client need to provide/upload the required data for VAT return/refund filing.

STEP 2

We will review the data and start preparing the VAT return/refund.

STEP 3

We will prepare and submit the detailed draft VAT return/refund for client review and approval.

STEP 4

We will submit the VAT return/refund to FTA after client’s approval

FREQUENTLY ASKED QUESTIONS (FAQ’S)

Is our business data being secure while outsourcing accounting with you?

Many people ask us this question. And rightly so; we sign a service agreement that includes nondisclosure and confidentiality clause to protect your sensitive and confidential information. Also, as a professional company we follow professional ethics and practices.

What does include in a Transaction?

We consider Sales Invoices, Purchase Invoices and Expenses Invoices over the amount of AED 100 to count transactions for our billing purpose.

What documents are required for VAT return/VAT refund filing?

For VAT return/VAT refund filing, sales tax invoices, purchase tax invoices, expense tax invoices, tax credit notes issued to customers, tax debit notes received from suppliers, bank statements are required. Other additional/supporting documents may be required as per the nature of your business.

Which Package we should choose?

If you are a startup and your monthly transactions are less than 100 & you don’t have more than 50 costumers/suppliers, then you can go with our STARTER package. If your monthly transactions are more than 100 or your customers/suppliers are more than 50 then you chose our STANDARD package. If you are established business and your monthly transactions are more than 250 then you can choose our PREMIER package.

Do you will take care of our accounting as well?

No, we in our VAT package we are not doing complete accounting, we will only cover VAT part, which is essential for VAT compliance. If you want accounting services, you have to book our accounting & bookkeeping package, please click here to check our accounting packages.

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