VAT Implementation

IS YOUR BUSINESS READY FOR VAT?

We deliver premier quality VAT Implementation services to UAE businesses needing expertise from VAT professionals.

According to the UAE Ministry of Finance, businesses “may need to make some changes to their core operations, their financial management and book-keeping, their technology, and perhaps even their human resource mix (e.g. accountants and tax advisors)”. Do you have a plan? To avoid legal repercussions, it is essential that you fully comply with all VAT-related requirements. Companies Should register for VAT (when it meets mandatory threshold) and should also retain business records for five years to facilitate tax audits.

Da Gate offers support to businesses for VAT implementation in Dubai, Abu Dhabi as well as Sharjah and all other northern emirates.

Do you have effective ERP Solution?

Organizations often don’t have an Enterprise Resource Planning (ERP) solution in place, which is critical to the successful implementation and ongoing management of Value Added Tax in UAE. ERP enables businesses to quickly and accurately track, manage, report and audit financial details, along with the other core financial, resource and project management functions. Effectively an ERP integrates an organization’s business information – including finance and accounting, customer relationship management, human resources, resourcing and project management – all of which will be affected in some form by the introduction of VAT.

VAT Implementation Process

We believe that the businesses should be guided properly for VAT implementation in UAE to comply with UAE VAT law and develop a sustainable tax strategy. The procedure for effective VAT implementation is as follows:

Understand the business model:

The TAX experts/ VAT Experts visit your office to understand the business model for designing a VAT Implementation plan which suits for the UAE VAT Regulations for your business.

Training to the Management & Employees:

We are providing training on the concepts of VAT in the UAE & discuss about the business type & its issues on compliance to the UAE VAT Law. Provisions shall be made to train the employees from each department having implication on VAT.

Analyzing the impact of VAT on your business:

As part of VAT implementation, to comply with the law of the land with respect to VAT (UAE VAT Law), we advise regarding the procedural formalities and the date by which registration has to be made, considering whether the company got any exemption in this respect or not, whether the group registration applies to company situation or single entity registration.

Identifying a VAT team leader or VAT Implementation Project manager:

For shifting the transactions into UAE VAT compliance and to function smoothly and in a timely manner, we will select a responsible person/team from the company to be the head of the VAT Implementation project called VAT Implementation Project Manager.

Registration for VAT:

As part of VAT implementation, to comply with the law of the land with respect to VAT (UAE VAT Law), we advise regarding the procedural formalities and the date by which registration has to be made, considering whether the company got any exemption in this respect or not, whether the group registration or standalone is more apt etc.

VAT compliant Accounting system

The present accounting systems will be scrutinized. Proper classification/ grouping with appropriate chart of accounts suitable for VAT regime will be suggested. Necessary guidelines will be given to the accounts team for preparing the VAT return to the Federal Tax Authority (FTA).

Invoicing under VAT

The requirements of VAT invoicing under the UAE VAT Law will be implemented. Proper guidance will be given to the IT persons for backend process and proper training to the Accounts and other departments connected to sales.

IT Migration

In order to incorporate the changes in the billing, accounting and other administrative procedures to comply UAE VAT formalities, necessary guidance or information required will be communicated to the IT team/software personnel either directly or through VAT Implementation Project Manager.

Filing of Return VAT Return

The support for preparing and filing the VAT return by taking the correct inputs & outputs as per VAT laws and regulations