VAT in simple terms Value Added Taxation. The Vat has been recently introduced in GCC starting with UAE , Saudi Arabia & Bahrain initially w.e.f 1st Janaury 2018. Oman has also introduced VAT recently w.e.f 16th April, 2021.
Once the books of accounts are maintained, reviewed and audited properly arriving at VAT figure is not a major task. Filing of VAT return is not a special skill but calculation and tax effect is very important.
As per the UAE commercial Company Law 2015 and UAE VAT law, every registered company in the country is entitled to maintain the books of accounts. At MAB we offer customized solutions taking into account the unique nature of your business without having to set up full-fledged accounts and finance department in your company in UAE. Our expert team takes care of the legal and technical aspects of accounting so that you can focus on other areas of business operations. The core strength of MAB lies within the adept team who is highly proficient, well trained & updated with recent changes in IFRS. MAB’s Accounting & Auditing services can establish proper financial discipline in your organization.
We have team of tax experts who are Tax agent registered under the Federal Tax Authority (FTA). They can ensure that application for registration, deregistration, amendment or return is filed accurately and in a timely manner to ensure compliance with the FTA requirements
Our experts will Advise and help in maintaining books of accounts as required by FTA and ensuring the proper and accurate VAT accounting with right tax effect. Our expert team not only will handle the Vat compliance, Accounting & book keeping, and VAT return filing but also will appear before Federal Tax Authority for hearing and explanation on their queries
VAT Services covers :
- VAT Accounting & Book keeping
- VAT Return Filing
- VAT Audit
- VAT Refund
- VAT Departments (FTA) Hearings