VAT Accounting Services
VAT Accounting made Easy with INTANGIBLES
With the government mandate to maintain proper records and documentation, businesses may be required to make changes to their operations, including VAT accounting, financial management practices, record-keeping, and even the software used to record financial transactions.
INTANGIBLES tax experts will help you manage VAT transactions, from invoicing and documentation to incorporating the changes in billing, accounting, and other administrative procedures to comply with UAE VAT regulations.
Navigating on VAT
Transaction rates & categories:
Automobiles, electronic items, fuel, jewelry, food & beverage, apparel, entertainment services, cosmetics, restaurants & hotels, construction, commercial leasing, etc.
The export of goods or services, international transportation of goods and passengers, supply of certain means of transport, supply or import of investment precious metals with 99% purity and more, residential buildings, buildings used by charities, certain education services, and certain healthcare services.
Financial services, certain residential buildings, bare land, and local passenger transportation are considered exempt.
Types of VAT
Input tax is charged on goods purchased or services offered. If the business is a registered buyer with the FTA through Dubai Trade, Input taxes on imports will be deducted during settlement of VAT payable.
Output tax is imposed on the sale of goods and services rendered.
Hefty fines to avoid
- AED50,000 - AED500,000 in failing to keep accounting records in the next 5 years
- AED20,000 - AED200,000 in failing to keep VAT filing records in the next 5 years
What we are offering
- No additional staff cost and training
- Accurate and timely reporting
- Enables you to meet your tax reporting requirements
- Reduce the burden of tax audit
- Avoid unnecessary fines and penalties
Check Out Our VAT Related Services
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