VAT in UAE has made it compulsory for companies to record their financial transactions and guarantee that their financial records are accurate and up-to-date. Eccentric Business is the best among the various tax accounting firms in Dubai offering you most equipped Tax and VAT accounting services in UAE.
Value Added Tax
VAT came into force on 1 January, 2018 and its rate has been settled at 5 percent.
We at Eccentric Business give you tax and bookkeeping services to record and document your yearly turnover requirements, that needs to be maintained as an evidenced for financial records.
Criteria for registering for VAT:
- A business must register for VAT if its taxable supplies and imports surpasses AED 375,000 for each annum.
- It is optional for organizations whose supplies and imports surpass AED 187,500 for each annum.
VAT Registration Process:
Eccentric Business can help you to go through a straightforward procedure to begin with VAT in UAE.
- Provision of significant documents for VAT enrollment
- Receive you trade license, confirmation of business setup, banking detail and signatory papers
- Prepare documents to apply for business approval like POA, MOA and so forth
- Significant description of Business activities as affirmation.
- Record your income(wage) from past a year and provide expected a figure
- financial specialists will calculate the value of imports and exports
- Deal with your planning in order to manage GCC officials and clients.