EMARA Tax (VAT) Registrations & Return Filing in Dubai

In the UAE, being registered under the VAT Law entitles a company to be recognized by the government as a supplier of goods and services, as well as to collect VAT from customers and pay it to the government.

EMARA Tax Consultants in Dubai

To run operations smoothly and efficiently, businesses have to pay taxes to the government as per the tax regime in the country. This promotes transparency in business and acts as evidence in circumstances when tax audits are carried out. VAT payments prove that businesses are running legally and no misconduct is carried out, promoting credibility. For paying taxes, every business eligible under the scheme is issued a special number, i.e. Tax Registration Number or TRN. 

In UAE where a new tax scheme has been implemented recently, business owners who have their taxable supplies and exports exceeding AED 375,000 per annum ought to apply for VAT registration, after which they will be allotted a 15 digit TRN.

VAT Consultants in Dubai

What is EMARA Tax?

Value Added Tax or VAT is a tax on the expenditure or use of goods and services imposed at each point of sale. The bearers of the cost will eventually be the end-consumer. Organisations are obliged to collect and account for the tax in aid of the government. VAT in UAE is applicable uniformly on tax-registered businesses running both on the UAE mainland and in the free zones.

A taxable supply refers to a delivery of goods or services made by a company in the UAE that may be taxed at a rate of either 5% or 0%. 

Difference between Zero-rated & Exempted Tax supplies

Good and Services on which zero-rate (0%) tax rate is levied are Zero-Rated supplies. For zero-rated supplies, input tax can be recovered. Examples:
  • Exports of goods and services
  • First sales/rent of residential buildings
  • Certain educational services and related goods and services
Goods and Services on which VAT is not levied are Exempted supplies. Also, if all your supplies are in the category of exempted supplies, you are not required to register for VAT. And even you cannot claim for Input tax as well.
  • Financial Services like life insurance
  • Residential Buildings
  • Bare Land
  • Local Passenger Transport

Relevance of EMARA Tax Services

Now businesses must have a fresh look at their business model. Proper continuance of accounting records will be one of the initial requirements for any business to endure the new legislation. Appropriate recording of all the invoices, outflows, etc. will be fundamental so that VAT return filing can be made timely without any errors. Only hiring a reliable and experienced VAT consultant can help you ease your VAT processes effectively. To avail the best VAT services in Dubai and UAE, you need to find a professional VAT consultant who can help you with proper accounting and Value Added Tax Services. At this juncture, outsourcing all accounting services will be the better option for the businesses that lack internal capabilities and sufficient resources to support VAT implementation. A competent VAT consultant improves your business performance, operational efficiency and VAT compliance.

How can EMARA Tax services help you grow your business in Dubai?

VAT is not an additional burden or cost for the business. In general, every business act as a mediator for the Government. Only the effect is reflected in the cash flow. So, proper planning and effective management of tax collection and its execution will give added value and cash inflows to every business. VAT services help:
  • To prevent errors in filing tax return.
  • To claim the input tax paid as per the VAT law.
  • Provide guidelines to avoid fines and penalties.
  • Maintain the books of account for five years, as per law.
  • Conducts the tax audit to safeguard the company from material misstatement.
  • Get updated and trained regarding the latest changes in the VAT law and its impacts on accounting.
  • Provide guidelines for the preparation of invoices for sales.

Services Provided by EMARA Tax Consultants

  • VAT compliance issues and control
  • Minimising VAT liabilities
  • Identifying risk and proper solutions
  • Identifying prospective tax planning opportunities
  • VAT Filing and payment.
  • Data recording and organization
  • Accounting & Bookkeeping
  • Purveyor organization
  • Client organization

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