GENERAL CRITERIA FOR VAT REGISTRATION IN UAE

A business is required to register for VAT if its taxable supplies and imports exceed AED 375,000 per annum. For businesses whose supplies and imports exceed AED 187,500 per annum, VAT registration is optional. However, by the end of 2018, all companies in the UAE are expected to voluntarily register for VAT, even if their annual revenue is less than AED 375,000. 

VAT is charged at each step of the supply chain, with end consumers generally bearing the cost. Businesses act as tax collectors on behalf of the government, collecting and accounting for the tax. To ensure compliance with VAT regulations and prevent any default, companies must maintain records of their financial transactions and undergo periodic audits.

DOCUMENTS REQUIRED FOR VAT REGISTRATION IN UAE

•   Trade License of the company
•   Certification of incorporation or registration certificate
•   Article of association/partnership agreement or any other document indicating business ownership
•   Manager profile
•   Passport copy and Emirates ID of manager
•   Physical office location of the business
•   Contact details
•   Bank account details and statements
•   List of businesses of the directors/partners in UAE for the last 5 years with their trade license copies

In addition to the necessary documents, the company is required to submit a few declarations to obtain the Tax Registration Number and successfully complete the Tax Registration process in the UAE. This ensures compliance and facilitates a seamless procedure.

LIST OF DOCUMENTS STATING DECLARATIONS ABOUT

•   Business activities of the applicant
•   Actual or estimated financial transaction values
•   Annual Turnover of the previous year with supporting documents
•   Details of expected turnover in the next 30 days
•   Import/export transactions
•   List of GCC activities of the business
•   Details about customs registration

HOW PRO CONSALTANCY UAE CAN HELP YOU?

Pro Consultancy provides comprehensive assistance and end-to-end services in VAT and Accounting, covering everything from raising awareness about VAT guidelines to registration and filing. Our VAT team is well-versed in the latest norms set by the Federal Tax Authority, ensuring quick and accurate assistance regardless of your business type. We strive to deliver efficient VAT solutions tailored to your needs.

TAX CONSULTATION AND ACCOUNTING SERVICES IN UAE

ACCOUNTING SERVICES IN UAE

Our team at Pro Consultancy offers expertise in financial planning, accountancy, and business development to help you unlock your potential for financial growth. By entrusting us with your bookkeeping, you can shift your focus to core business issues, such as growth. Accurate accounting will empower you to make well-informed decisions.

We pride ourselves on our streamlined processes that enhance your accounting practices. Our talented team is well-versed in major accounting software programs like QuickBooks, Peachtree, Quicken, Tally, and more. What sets our accounting services apart in the region is our proactive business support, excellence in multilingual communication, and unwavering commitment to reliability and compliance.

Whether you’re a startup or an established business with complex controlling and reporting structures, we tailor our services to meet your unique needs. Our management accounting aligns precisely with your business requirements and can accommodate even the most intricate group reporting demands.

Our capabilities extend beyond accounting. We scale our services to match your volume requirements, provide exceptional logistics and order processing support, integrate with external applications for document processing and logistics, and facilitate bidirectional electronic data transfer with your banks.

When it comes to VAT and accounting, rest assured that Aurion will be your trusted partner. Let us handle your VAT registration, VAT return filing, accounting, and bookkeeping services with utmost precision and quality, while you focus on your core business activities.

AUDIT REPORTS FOR FREE ZONE COMPANY RENEWALS

Pro Consultancy offers an exclusive Audit Report Service for Free Zone companies in the UAE. This service covers business license renewal, bank account opening, and company closure. The audit requirements vary depending on the business jurisdiction. For most Free Zones in the UAE, companies are required to perform an audit and submit the audit report during business license renewal.

Additionally, in the event of company closure, free zone companies must obtain a company closure certificate or liquidator certificate. This certificate is prepared after conducting an audit on the company’s financials.

MAINTAIN YOUR BUSINESS RECORDS AT THE MOST TRANSPARENT WAY

Maintaining accurate financial reports is crucial for tracking the growth of your company and avoiding penalties or misrepresentation of funds. At Pro Consultancy, we specialize in preparing precise audit reports that can serve various purposes, including free zone business license renewals, bank account opening, and company closure. Our team of expert auditors will meticulously analyze your business transactions, balance sheets, and financial reports to ensure full compliance with UAE business laws. As an ISO 9001:2015 Certified Consulting company, we are committed to continuous improvement and delivering high-quality services in all our assignments. Rest assured, we prioritize the security of your business information through our proprietary Office Management System.

With the Pro Consultancy Mobile App, stay updated on your VAT registration, VAT Return filing, and Accounting assignment status in real-time. Receive instant notifications! Our team of expert consultants is always ready to assist you. For any further VAT and Accounting support, reach out to our specialists without delay!