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Why you need VAT Accounting Services?
VAT accounting services demand a particular accounting system to make the process error-free, accurate and precise. Planned and well-arranged accounting services are essential to carry out the VAT needs in obedience to the UAE court of law. There are the following reasons you really need Dubai VAT accounting services.
Key Benefits of VAT Accounting Services
VAT accounting services in Dubai have essential benefits. If you outsource the VAT accounting services, you can grow your business fast, change your focus on basic operations, and much more. Here are the benefits listed below;
Laws, rules, and regulations controlling businesses, especially on taxes, are frequently changing. Firms and outsourcing companies are generally up to date to ensure their clients are always compliant.
Peace of mind
For many business owners and managers, VAT is very stressful. Having a hired firm to take care of your VAT is the same as relieving yourself from stress and letting you concentrate on other things. Now, you don’t need to worry and fear about the NBR audit since you partner up for backup support.
Consume Less, Save More
You don’t need to hire multiple high-paying accountants when outsourcing your accounting and vat services. Also, your human resources expenses will lessen because you don’t have to pay salaries, bonuses, holiday tickets, vacation, or employee compensation.
More time to focus on the main business
You will have much time to monitor your core operations and think of new ideas to expand your business. You don’t need to spend too much time supervising your staff in organizing all your statements, invoice bills, and other source documents and asking them if you have paid your Vat already. Getting these essential tasks done by an outsourced company will let you focus on the primary operations of your business to make it more profitable.
Accurate & more reliable financial information
Since the business is independent and has no hidden interest in its client’s business, you can ensure more trustworthy outcomes/reports that help make significant economic decisions and strategic moves.
Access to specialists
Partnering up with an accounting firm means accessing the complete knowledge, the wealth of wide-ranged experience, and the analytical tools grouped to generate an enhanced, combined, and synergetic effect in optimum strategic solutions.
All in one VAT Services in Dubai
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Q & A
What services are exempt from VAT in UAE?
Exempted goods and services list in UAE.
- Financial services not conducted in return for a salary, wages, discount, commission, rebate, or any similar return are exempted.
How many types of VAT are there in UAE?
In the UAE, there are two VAT rates applicable: The standard rate of 5% and the zero rate of 0%. We can also find supplies exempted from VAT. Though VAT is not accounted for in respect of both zero-rated and exempt supplies, there is an essential distinction between the two.
What happens if I don't pay VAT in the UAE?
The taxable person will incur a late payment penalty as follows:
2% of the unpaid tax is due quickly.
4% is due after a week following the exact limit for payment.
1% daily penalty will be imposed on any amount still unpaid after a one-month deadline for payment, up to a maximum of 300%.
How much is the VAT refund in Dubai?
The VAT Refund Scheme in Dubai and UAE allows you to claim 85% of the total VAT amount paid, minus a fee of AED 4.80 per Tax-Free Dubai Tag. The total amount will automatically be calculated throughout the VAT Refund Process.