Value Added Tax (VAT)

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At 1Turn Consultants, we offer comprehensive VAT services to ensure your business is compliant with the latest tax laws and regulations. Our tailored solutions are designed to maximize your tax efficiency and support your business's financial health.

Introduced on January 1, 2018, the UAE’s value-added tax (VAT) is a consumption tax applied at every stage of the supply chain. This implies that UAE businesses dealing in taxable goods and services are subject to a 5% VAT. Mandatory VAT registration is required for businesses with an annual turnover exceeding AED 375,000. Those with turnovers between AED 187,500 and AED 375,000 have the option to register voluntarily. To adhere to Dubai’s VAT laws, businesses must maintain precise VAT records, timely file VAT returns, and ensure their invoices comply with the Federal Tax Authority’s standards.

Our VAT Services

VAT Registration

Registering for VAT in the UAE is conducted online through the Federal Tax Authority’s digital portal. Prior to initiating the VAT registration process, applicants need to evaluate several factors. These include deciding whether to opt for voluntary or mandatory registration and considering whether to register as a Tax Group or as a Standalone entity.

VAT Return Filing

We guarantee timely filing of VAT returns in compliance with each designated tax period’s deadlines. Our team will make scheduled visits to your office (weekly, monthly, or quarterly) to gather necessary information for the VAT Return preparation. Following the conclusion of each VAT return period, your company’s VAT Return will be meticulously prepared and filed, adhering strictly to the regulations set forth by UAE VAT law.

VAT Health Check

A thorough review of your VAT processes and transactions to ensure complete compliance and identify any areas for improvement.

VAT Advisory

Strategic advice on VAT-related matters, helping you understand the implications of VAT on your business operations and transactions. You will be guided on how to structure your business to minimize your VAT liability, on how to deal with VAT audits and assistance with VAT planning.

VAT Amendments and Deregistration

Assistance with any required changes to your VAT registration details and guidance through the deregistration process if necessary.

VAT Reconsiderations and Refund

Expert support in filing for VAT reconsiderations and claiming refunds, ensuring your business recovers any eligible tax amounts.

VAT Voluntary Disclosures

We will analyze the causes behind any penalties incurred and offer guidance on them. Additionally, we will aid in submitting a request for penalty waiver to the Federal Tax Authority’s (FTA) reconsideration committee. Throughout this process, we will provide comprehensive support and assistance.

Why Choose 1Turn Consultants for VAT Services?

 

  • Customized Approach:
    • Every business is unique. We provide personalized VAT solutions tailored to your specific business needs.
  • Experienced Team:
    • Our team of VAT experts has extensive knowledge of UAE tax laws, ensuring that your business stays compliant and informed.
  • Proactive Strategies:
    • We keep abreast of the latest VAT regulations and changes, providing you with proactive strategies to handle your VAT obligations effectively.

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