Tax Consultancy Services in UAE

Over the years, we are providing impeccable services to valued clients related to business solutions, related to Tax. We have a complete range of products capable to manage all your business requirements and delivered by meeting the world standards with great customer feedback. We identify your Business needs and give you ultimate comfort in your business operations.

Looking for VAT Consultant in UAE to help you in getting VAT compliant? We at BERKELEY & LORDS have already been providing VAT Consulting Services in UAE to many companies.

We can help you get ready for VAT compliance in UAE. Our consulting services for VAT in UAE includes the following:

  • VAT Health-check review
  • Implementation of VAT compliant Accounting Software for your business
  • VAT bookkeeping services to avoid any penalties for VAT non-compliance
  • Training of your staff on VAT in UAE
  • VAT return filing services as per UAE VAT laws
  • Company registration for VAT in UAE
  • Design and implementation of VAT structure in your company
  • Assessment of VAT on your sales price and profitability

We can manage your VAT implementation project from start to finish. Prepare yourself for VAT planning and its implications. We add value by providing services We provide VAT Advisory, Tax Optimization, Implementation and Training Services. Our team of senior qualified tax advisors, finance experts and tax accountants will ensure a timely and cost effective VAT services. In addition to advisory and implementation services our teams are available for the support of our valued clients.

VAT SERVICES

• VAT planning and structuring
• VAT Registration
• VAT Impact Analysis
• VAT Transactional Impact
• VAT Compliance
• VAT Return Filing
• VAT ERP Solutions
• VAT Compliance Solutions
• VAT Inspections Support & Assistance
• VAT Audit Assistance
• Real Estate VAT Advisory
• VAT Retail Documentation and Compliance
• E-Business VAT Implications
• Internal VAT Audits
• VAT Expert Support in Investigations
• Industry Specific VAT Solutions
• VAT Training & Testing
• Customized VAT Roles and Assistive Role of Tax Agency

VAT Return Filing

We offer VAT Return Filing Services in Dubai, Abu Dhabi and across UAE. Lynchpin’s VAT Return Filing specialists will assist in filing the VAT return of your organization. Filing timely VAT return in the correct manner will avoid the hefty fines imposed by Federal Tax Authority UAE.

Lynchpin can take care of all your VAT related accounting services. Compiling both input and output VAT records and generating VAT reconciliation and VAT return filing; you can outsource it all.

Our VAT Return Filing Services include

  • Identifying your VAT return filing periods as per FTA’s requirements and guidelines.
  • Reviewing the Output VAT on sales and other outputs and verifying the VAT calculation transactions on the sample basis and also calculating the amounts to be presented while filing the VAT return
  • Reviewing the correctness of VAT calculation on all standard rated supplies and zero-rated supplies.
  • Checking recording accuracy of Exempt Supplies (if any)
  • Checking the exclusion out of scope supplies (if any)
  • Reviewing the reductions in value in sales due to credit notes issued and errors that you are allowed to correct for previous Tax Periods
  • Identifying the requirement of additional voluntary disclosures (as per FTA’s requirements) for any change in previously filed VAT return.
  • Assisting in preparation of VAT reconciliation on all Taxable supplies
  • Review of the calculation of Adjustments in Output VAT for Bad Debts (if any). This needs to be separately shown in VAT return as per FTA’s requirements
  • Review of supplies under reverse charge mechanism to correctly record VAT obligation in the VAT return.
  • Reviewing the transactions with free zones/designated zones (if any) and their correct VAT implication.
  • While filing the VAT Return in UAE we exclude the out of scope supplies. Review of input VAT on all expenses and their correct VAT treatment.
  • Special care to be taken while filing the VAT Return in UAE to include only the expense on which you can claim input VAT.
  • Reviewing the adjustments (if any) for previously claimed input VAT.
  • Calculating the correct input VAT under reverse charge mechanism that can be claimed in line with UAE VAT Law and Executive Regulations
  • Calculation of net VAT payable/refund.
  • Initiation of VAT return forms 201/311 as applicable

UAE Federal Law on Tax Procedures | Overview

VAT Due Diligence With tax, accounting and legal expertise, amongst a host of other competencies to call on, Berkeley Middle East Consultants can conduct the appropriate due diligence on your business enterprise, no matter the size or complexity, to analyze the impact that VAT will have on your systems, procedures, policies, staff competence, supplier compliance and even your corporate structure, and report the risks that each element of your business will be exposed to and recommend corrective measures. This will enable management to make the best decisions to ensure successful implementation for a sustainable solution and also to mitigate the overall impact on VAT on your business and its success.

VAT Readiness Assessment In the event that a full due diligence is not a current priority and a simple exercise is preferred in order to ascertain which elements of your business will attract VAT responsibilities, Berkeley Middle East Consultants can conduct a “readiness assessment” and give you a comprehensive report on the identified aspects of your business that will require attention.

System Assessment Berkeleyme Consultants can conduct assessments on your ERP systems and other accounting systems to determine configuration changes required and adaptation to cater for VAT.

VAT Registration With the expected rush for registration and usual processing and administrative issues, Berkeley Middle East Consultants can provide the necessary support to facilitate the entire registration process and make it as simple as possible.

VAT Training From sales persons and creditor clerks to accountants and senior management, training on the implementation and day to day administration of VAT will be imperative to ensure the VAT does not become a cost the business. VSG have appropriate training modules to suit each staff grouping and departmental category to ensure that training courses provide the relevant detail at the relevant level.

UAE Federal Law on Tax Procedures | Importers and Exporters

UAE Federal Law on Tax Procedures | Consumer Business

VAT RETURNS | VAT MANUALS, POLICIES AND PROCEDURES | DISPUTE RESOLUTION

VAT Returns: At the stressful times for the responsible employees, particularly in a new VAT environment where many employees have limited experience, Berkeley Middle East Consultants can assist with the completion of periodic returns and ensuring timely and accurate filing of VAT calculations and attending to any queries raised by the relevant authorities.

VAT Manuals, Policies and Procedures: Berkeley Middle East Consultants has the expertise to generate customized VAT manuals, policies and procedures to cater for your particular business to ensure strict compliance with the requirements of VAT compliance and also to avoid penalties and interest that may be incurred in the case of any non-compliance by the business and employees.

Dispute Resolution: In our experience disputes arise from time to time in the normal course of business, and so will disputes arise with regard to VAT. Such disputes will be particularly prevalent during the initial stages of implementation, with VAT being a new concept in the GCC. Managing disputes is a time consuming task for which existing staff may not necessarily be equipped for or have the time to deal with. Berkeley Middle East Consultants is capable of alleviating the problem by providing a platform to whom to delegate these incidents and provide cost effective solutions.

VAT AUDITS | VAT RULINGS | TAX CLEARANCE CERTIFICATES

VAT Audits: A regular VAT audit is always a good idea, particularly in the early years to ensure proper compliance and correct implementation and accounting. The VSG team can provide independent assessments periodically or on an ongoing basis to prevent possible non-compliance and even the identification of any under claiming of VAT input credits.

VAT Rulings: Legislation does not always cover each and every imaginable situation that may arise and sometimes there are grey areas that need clarification. This may arise in respect of out of the ordinary transactions for which it may not be clear as to what the VAT impact will be on the business. Berkeley Middle East Consultants can apply for clarification and obtain VAT rulings from the relevant authorities relevant to your particular situation.

Tax Clearance Certificates: Berkeley Middle East Consultants can assist in obtaining the necessary clearance certificates that will be required for certain legal and regulatory processes.

VAT IMPACT ON BUSINESS

Business
• Cash flow
• Vatable transactions and rulings
• Imports and exports
• Group structure
• Administrative costs

Compliance
• Registration
• Governance, processes and procedures
• Invoices
• Returns
• VAT Payments
• Audit
• Record keeping Technology and systems
• Systems upgrades – accounting, POS
• Data and record storage

Sales and Marketing
• Effect on demand and pricing
• Customer communication
• Current contracts Suppliers
• VAT status of suppliers
• Supplier compliance
• Current supply contracts

Staff
• Capability assessment
• Responsible officer
• Training, job descriptions
• Change management

How to file the (Value Added Tax) VAT Return in United Arab Emirates

Bahrain Federal Law on Tax Procedures - Taxable Person or Group Guide

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Berkeleyme Consultants

Berkeleyme Consultants

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We have a complete range of products capable to manage all your business requirements and delivered by meeting the world standards with great customer feedback. We identify your Business needs and give you ultimate comfort in your business operations.

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