The way you run a business has changed, and it’s time that the way you pay taxes changed as well. Here at Everest Accounting, we’re proud to announce our new Vat Services and Excise Services in Dubai.
Our Vat Services help you with filing and VAT registration so that you can focus on your core business, instead of worrying about keeping up with the latest tax filing rules. Our Excise Services take care of everything from registration to license renewals so that you don’t have to worry about maintaining your company’s excise licenses.
If you’re looking for a way to take the stress out of your tax administration, look no further than Everest Accounting.
Value Added Tax was introduced here in UAE on the first of January 2018. It is the tax imposed on most goods and services that are sold for domestic consumption. This tax is a kind of indirect tax imposed on the supply of goods and services made to the final consumer (end-user). VAT is charged at each point of sale (except businesses with VAT registration turnover below the mandatory threshold).
When you supply taxable goods or services, you will charge VAT at 5%. You will then account for this amount collected/charged on your VAT return as output tax. If you are a business operating within the UAE, you must register if your taxable supplies and imports exceed the mandatory or voluntary registration threshold over a period of 12 consecutive months.
A business registered for VAT can recover input tax incurred on spending which relates to making taxable supplies. The amount of input tax that can be recovered depends upon the nature of your business activities, whether it is fully taxable, partially taxable or
Dubai’s VAT services and Excise Services
VAT and Excise are the two most common types of Tax, which are applicable to all business entities in Dubai. Any person that is registered under the VAT and Excise system, is eligible for VAT. This includes individuals, corporations, partnerships, sole proprietors, etc.
Taxation is an important part of any business as it ensures that the company pays its dues to the government. It also has a positive impact on the economy of a nation. In Dubai, several laws regarding taxation have been implemented to ensure that all businesses pay their taxes properly and without fail.
There are various ways in which you can use the tax system to benefit your business. However, you should make sure that you comply with all the laws regarding taxation and do not do anything illegal or unethical while using these tax systems. You should also be aware of the various rules and regulations governing taxation in Dubai so that you are able to avoid any penalties or fines if you break any rules or regulations of taxation.
If you are thinking of starting a new business in Dubai, you will need to get to know the Vat Services Excise services in Dubai.
These services are provided by several companies, which specialize in providing professional services for business owners.
Before you start looking for these services, it is important that you understand what they do and how they work. Everest has been best on Town for this.