VAT MADE SIMPLE

VatMan Gulf is the first choice for businesses requiring VAT specialist services in the UAE and the rest of the GCC.

We provide the best client experience and deliver value for money.

The primary question that all businesses will be faced with is:

Can I afford to employ an in-house VAT person or should I hire a third party specialist?

This is where the services of VatMan Gulf begin and are geared to suit any budget with customised programmes to meet your individual business requirements.

A KEY REQUIREMENT IS TO FILE VAT RETURNSIN UAE THE NEXT RETURN IS DUE IN

On Sunday 29 September 2019 (As the 28th falls on a Saturday)

VAT HAS ARRIVED IN THE UAE AND KSA

The Gulf Cooperation Council (GCC) has agreed that Value Added Tax (VAT) will be implemented by Member States with effect from 1 January 2018. So far only the United Arab Emirates (UAE) and the Kingdom of Saudi Arabia (KSA) have proceeded with implementation with effect from 1 January 2018, the remaining four Member States are still planning to implement at a future date.

It is inevitable that this introduction of VAT will present numerous challenges for businesses in the GCC as VAT impacts all aspects of business. The GCC Unified Agreement on VAT (UAVAT) provides the VAT Framework which will serve as the foundation for the VAT legislation to be implemented by each Member State. This is a modified version of the European Union model used successfully by each member state, and it is this experience that must be drawn upon for advising clients on conducting business in a VAT regime.

QUESTIONS THAT ARISE

As a business owner these are the sorts of questions that should arise when presented with the introduction of VAT.

  • Does my business need to register?
  • What will be the overall impact on my business?
  • How will compliance be achieved? – VAT is administered by legislation so penalties are strict and considerable.
  • How will this impact the company’s cash flow?
  • What planning is required to best manage the impact?
  • Who will do the filing?
  • Is my team adequately trained? This will impact all aspects of business.
  • What IT changes will be required?

Review the services offered by VatMan Gulf that are designed to help answer these questions and more.

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