VAT IMPLEMENTATION

VAT IMPLEMENTATION:

VAT Law came into effect from 1st January 2018 across the UAE. VAT (Value Added Tax) is an indirect tax charged at every level of supply of goods or services or both. Businesses in UAE need to take necessary steps for VAT implementation in UAE into their operations to ensure compliance with the VAT Laws. We at JSR Consultants determined to offers our full support to businesses in UAE for VAT implementation in Dubai, Abu Dhabi, Sharjah and all other northern emirates.

STEPS INVOLVED IN VAT IMPLEMENTATION SERVICES:

We believe that understanding is the first key step to ensure effective implementation. Therefore, the businesses in the UAE should be provided with proper guidance on UAE VAT laws for implementation and development of sustainable tax strategies. The procedures for effective Vat implementation are:

UNDERSTAND THE BUSINESS MODEL:

Our VAT/Tax experts initially visit your office to take in-depth understanding of your company’s business model to ensure that an efficient and effective VAT implementation plan is delivered for your business.

ANALYZING THE IMPACT OF VAT IMPLEMENTATION ON YOUR BUSINESS:

On the basis of understanding of Business Model your business is in, we present a clear picture based on our analysis to the senior management identifying the areas to be effected and their impact on business working capital, human & technological resources, cost of doing business and profitability.

VAT TRAINING FOR MANAGEMENT & EMPLOYEES:

We arrange VAT training sessions for the management and employee of the organization to provide them in depth conceptual knowledge and understanding to manage their day to day business affairs duly VAT compliant with-in the parameters of prevailing UAE VAT Laws.

IDENTIFYING A VAT TEAM LEADER | PROJECT MANAGER FOR UAE VAT IMPLEMENTATION:

For smooth implementation of UAE VAT with in the business in efficient, effective, and in timely manner we identify and assign a person as a UAE VAT Implement Team Leader usually known as Project Manager, from the company’s available human resources to head the transaction.

REGISTRATION FOR VAT:

As part of implementation of VAT, to comply with the UAE VAT Laws we advise step by step procedural formalities along with the registration dates to be followed, considering whether the company may opt for any exemption or group registration or stand alone is more viable option with in the ambit of UAE VAT Laws.

COMPLIANT ACCOUNTING SYSTEMS UNDER UAE VAT:

Current accounting system need to be revisited and suggestions are made for integration of necessary changes to be incorporated to ensure proper classification, sub classification, grouping, with appropriate level of chart of account suitable in prevailing UAE VAT regime. Necessary guidelines are given to the accounts team for preparing their first VAT return for onwards submission to the Federal Tax Authority (FTA).

INVOICING UNDER VAT:

The requirements of VAT invoicing and issuance of credit note under the UAE VAT Laws will be incorporated. Proper guidance will be given to the IT persons and proper training to the Accounts and other departments connected to sales will be given.

IT MIGRATION:

In order to incorporate the changes in the accounting, billing and other administrative procedures to comply with the formalities of UAE VAT Laws, necessary guidance and information will be communicated to the IT team/software personnel.

FILING OF VAT RETURN:

Provide assistance for preparation and filing of the first VAT return by taking the correct input tax credits against the total VAT liability along with the guidance on planning of cash flow management.

JSR CONSULTANTS are one of the leading TAX Experts in UAE providing VAT Registration Service, VAT Consultancy Service, VAT Advisory Service and VAT Implementation Services across the UAE (Emirates Dubai, Abu Dhabi, Sharjah, Ajman, Fujairah, Ras Al Khaima, Um-Al-Quwain).
For more information on VAT implementation services, please feel free to reach our below representatives.

Mr. Suhaib Ishaque

VAT EXPERT

Suhaib.ishaque@jsrconsultants.ae

vat@jsrconsultants.ae

Phone No: +971 52 674 5035

Whatsapp: +971 52 674 5035

Mr. Muhammad Rehan Alam

VAT EXPERT

rehan.alam@jsrconsultants.ae

vat@jsrconsultants.ae

Phone No: +92 321 8998001

Whatsapp: +971 50 2458891

Mr. Jawad Rauf

VAT EXPERT

Jawad.rauf@jsrconsultants.ae

vat@jsrconsultants.ae

Phone No: +92 321 2791594

Whatsapp: +971 50 2458891