VAT Accounting Services

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    Hire a professional VAT Consultant who can provide you with accurate and timely VAT Accounting and VAT filing services. UAE VAT Consultancy services aim at excellence while serving clients with highly professional VAT services.

    With thorough knowledge and exposure to accounting and VAT Processes, we at UAE VAT Consultancy are the perfect choice for all VAT Accounting services.

    Keep stress at bay with the assistance of professional VAT services providers and avoid financial losses by paying penalties. We conduct the accounting process and keep it in sync with the prevailing VAT laws in the UAE.

    Get online VAT Accounting Services from VAT Professionals in UAE.

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    VAT Accounting Services in UAE

    VAT Accounting in UAE with the VAT Experts

    Companies must maintain the necessary VAT Accounting records properly. It will help in accurately determining the VAT on sales and purchases. The VAT accounting process involves maintaining several records of the taxable supplies of goods and services to comply with the UAE VAT laws and regulations. With accurate records, the correct VAT amount is ascertained.

    The VAT Accounting process is a time-consuming one and needs dedicated resources. As a business owner in UAE, you can consider outsourcing the VAT Accounting Process to the VAT experts.

    With core expertise and experience in the VAT accounting and VAT Filing process, UAE VAT Consultancy proves to be the best choice for VAT-related services. It will help you to concentrate on strengthening your business and promoting growth.

    UAE VAT Consultancy has garnered immense goodwill in the market with a reputation of being the most dedicated and prompt VAT professionals serving thousands of clients in the UAE.

    We provide all VAT-related services, including VAT Accounting services. We check the accounts thoroughly for accuracy and ensure that the correct records are furnished to the FTA officials. You need not worry about the compliance issues with our team as we keep in sync with the latest FTA laws and regulations.

    Records to be maintained for VAT Accounting in UAE

    A business in the UAE has to maintain several VAT accounting records to keep the business VAT Compliant.

    Tax invoices for the inward supplies and services.

    Outward Supplies and Services Record.

    Records of imported and exported goods.

    Tax credit notes.

    Purchased goods and services records for which input tax credit is to be obtained

    Tax payment that is due after the adjustments

    Tax due on outward supplies

    Input tax recoverable on inward supplies

    Tax payment due on outward supplies

    With detailed records required to be maintained for the VAT Accounting in UAE Process, it is advisable to hire a VAT expert. The VAT Accounting experts will help you retain all the needed records easily.

    With vast experience in assisting in VAT Accounting services, UAE VAT Consultancy has become a top choice of businesses in the UAE. Get in touch with us for VAT Accounting services and learn how our team can support you to be VAT compliant.

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    Importance of VAT Accounting Records

    Records to be maintained for VAT Accounting Services in UAE

    Several documents have to be maintained for the VAT Accounting process

    Local
    Sales
    Local
    Purchases
    Total Purchases
    Export
    Sales
    Import Purchases
    Exempted Sales
    Total
    Sales

    The accounting records also include the information about the following-

    Complete Data of the suppliers and the customer's information - TRN number and the place of the business.

    VAT Accounting Entries required for purchase and sales transactions

    Master Data of the goods with mapping to the appropriate tax rate.

    General Ledger

    Tax coding of all the tax transactions.

    VAT reports

    VAT Accounting in UAE Record Retention Period

    • Maintain records for five years after the tax period ends as it's mandatory to do so as per the VAT Laws.
    • Maintain tax records for capital assets such as furniture& fixtures, machinery & equipment for 10 years after the tax period.
    • A business must maintain the VAT Accounting records for the real estate for fifteen years.

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    Advantages of VAT Accounting Services

    VAT accounting services 1
    VAT Tax Compliance is one of the biggest challenges a business can face, and for being VAT-Compliant, you will need the assistance of VAT professionals. As a business owner in Dubai, you are concerned about promoting your business and reaping profits. But if you spend time learning about VAT compliance and getting involved in the complex procedure of VAT Accounting, VAT Filing, etc. Then, you won't be able to focus on business; it can cause losses.
    VAT accounting services 2
    Our VAT consultants are armed with the requisite knowledge and skills to help you be VAT compliant and prevent any financial loss occurring due to penalties.
    VAT accounting services 3
    After hiring UAE VAT Consultancy, you can be assured that our experts will complete your VAT Accounting process, VAT Filing, and all the VAT-related services accurately and on a timely basis. The experts keep themselves updated about all the amendments and keep your business VAT Compliant.
    Incorrect VAT
    Incorrect VAT records and errors can lead to penalties imposed by the FTA. In such a scenario, a business can lose clients, making the business' growth stagnant. It also affects the company's reputation in the market, leading to future losses as the organisation will be considered unstable and unprofessional.
    VAT Services
    Today a large number of businesses in the UAE are outsourcing VAT Accounting Process. It gives the dual benefit - they don't burden the internal team with additional VAT Compliance tasks, and they can benefit from the expertise of VAT-certified agents. It enables a company to promote their business, be VAT compliant, and avoid huge penalties by paying a nominal fee for professional VAT Services.

    Penalties imposed by the Government for not maintaining the required accounting records

    It is crucial that your business is VAT Compliant and adheres to the VAT rules and regulations. But if the rules are not followed, you are likely liable to pay a penalty of AED 10,000. If the accurate VAT records are not maintained and furnished for the second time, the business must pay an enormous AED 50,000 as a penalty.

    Another penalty you should be aware of is not producing the requisite VAT records in the Arabic language. If the FTA has a language preference, then you need to pay attention to the same. Else you have to pay a penalty of AED 20,000 for not paying heed to their rules.

    Among various VAT Tax records, a business has to issue a tax invoice on supplies. Not doing so attracts a penalty of AED 5,000.

    Incorrect records, negligence in following the VAT rules and regulations can financially drain your business. So, hiring VAT Certified experts will prove to be a sound business decision.

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    VAT Accounting Services

    UAE VAT Consultancy is one of the most reliable VAT Consultants in the UAE. We have been offering VAT services in the UAE since the tax system was introduced in UAE. Many businesses have benefitted from VAT services.

    With our stringent VAT accounting services, we have helped them with the VAT services. We follow the best business practices. We uphold our values to serve our customers with complete honesty and dedication. Our priority is always customer satisfaction, and we strive for excellence while achieving the same.

    Make your business VAT compliant. Avoid penalties.

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    Our Strengths

    We have a close-knit team of VAT consultants. They are thoroughly acquainted with all the VAT rules and amendments in all the aspects of the tax system. With robust Proprietary accounting processes in place, there are no chances of errors. With 100% accuracy, we provide the VAT Accounting services promptly and comply with the VAT laws in the UAE.

    VAT Accounting Service is provided with the highest Data Security. We take complete responsibility for our client's data and ensure its absolute security with an NDA in place.