At RGM, our team of professional VAT Advisors would be pleased to assist you in all your requirements related to VAT. Our expertise lies in creating a strong compliance and reporting infrastructure for your business. In UAE, VAT has been implemented since 1st Jan 2018 and it is applicable to all the businesses operating in any part of UAE and fulfilling the following criteria:
- If business had turnover of more than AED 375,000 in the last 12 months, or
- If business expects turnover to be more than AED 375,000 in the next 30 days.
Be VAT Compliant
We at RGM, assist our client in all the aspects of the business to make them VAT compliant.
Evaluation
It is very important to evaluate existing business model to assess the financial, infrastructural and manpower requirement to comply with the VAT regulations. It involves full business impact assessment, vetting of existing business contracts, evaluation of existing record keeping process, accounting software and IT infrastructure.
Planning and Development
Post evaluation, the business requires planning of compliance strategy. This involves designing appropriate compliance process for day to day business activities, record keeping and accounting.
Implementation
Finally, we assist in implementing VAT compliance strategy in various business processes pertaining to Product/Services Pricing, Procurement, Sales and Distribution, Warehousing, Bookkeeping, Accounting and Record keeping.
Our services include
- VAT Registration
- Business Impact Assessment
- Vetting of existing and future business contract with respect to VAT clause
- Advisory related to creating and implementing VAT compliant business processes Accounting and Bookkeeping including record keeping for VAT
- Assessment of VAT Liability/Refund
- Filing of VAT Returns
- Compliance training to staff