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VAT – IMPACT ASSESSMENT

VAT – IMPACT ASSESSMENT

VAT – IMPACT ASSESSMENT: VAT is to be implemented in the UAE from 1 st January, 2018. The deadlines for the VAT Registration has already been passed and most of the businesses have registered themselves with the Federal Tax Authority and obtained their Tax Registration Number.

The next step after obtaining the TRN would be to understand clearly how VAT is going to impact your business. As the concept of taxation is new to UAE, understanding the working as well as the impact of VAT could be a troublesome task.

ARC Associates, the Tax Consultants in the UAE can assist you in making VAT easier for you and your business. The team at ARC Associates will help you to understand the impact of VAT on each of your transactions by closely studying the nature of your transactions and providing you with the best tax consultancy services.

By clearing understanding what will be impact of the VAT on your business, prepares you in an efficient and effective manner to welcome VAT with ease after the implementation.

ARC Associates will help you with the Impact Assessment with respect to all types of transactions – whether sale or purchase, exports or imports. ARC Associates will help the businesses in realizing the impact of the transactions which revolve around the exempt and the zero rated supplies and how they should be effectively dealt with in accordance with the provisions of the law.

In order to have a detailed discussion regarding the impact assessment of your business and be well prepared to face the VAT, please contact ARC Associates – Auditors and Consultants.

FILING VAT RETURNS

Filing VAT Returns

FILING VAT RETURNS: ARC Associates, Auditors and Consultants in UAE will help the businesses in filing the tax returns to the Federal Tax Authority. Filing of the VAT Returns is going to be an important process after the implementation of the Value Added Tax.

The TAX RETURNS would be filed on a quarterly basis every year. There is no manual method adopted by the FTA. However, the returns will be filed using the online portal www.tax.gov.ae. Every taxable person registered with the FTA will have to file the VAT return on a quarterly basis within the time specified by the authorities. It is very important to file the returns for your business timely and accurately in order to avoid the hefty penalties.

ARC Associates will provide your business all services and guidance related to the filing of the returns. We will review all your transactions on a monthly basis and assist you in compiling all the information that is required to be submitted to the authorities at the time of filing the returns. The constant step by step review by ARC Associates’ professional team will help your business to clearly understand the working of the VAT and the filing of the returns.

After the review, the VAT returns would be filed timely within the specified period of time and as per the requirements of the Tax Procedure Law.
To have your VAT returns filed accurately and timely, Please contact ARC Associates.

Mr. Reyees. K.P | Director
ARC Associates
Tel: +971 4 4431604
PO BOX 390831
Mob : 055 4874391
B2B Tower , Office 1213
Business Bay
Dubai, UAE
Email: info@arcauditing.ae                                                                                             

Document required for VAT Registration in UAE

Document required for VAT Registration in UAE

Document required for VAT Registration in UAE: – VAT will come into force from 1st January 2018 in UAE. In this crucial situation all the businesses registering for VAT should be aware of the documents required for VAT registration in UAE.  The list of documents required for VAT Registration in UAE is mentioned below.

Checklist for VAT Registration UAE

Document required for VAT registration

  1. Trade License
  2. Certificate of Incorporation/ Registration Certificate (as applicable)
  3. Articles of Association/ Partnership Agreement or any other document showing ownership information about the business
  4. Copy of Passport and Emirates ID of all Owners
  5. Details of manager
  6. Copy of Passport and Emirates ID of the Manager
  7. Physical office location of the Business
  8. Contact details
  9. Bank Account details
  10. List other business(es) of the directors/ partners in UAE in last five years along with their Trade License copies
  11. Declaration about
  • Business activities of the applicant
  • Actual or estimated financial transaction values
  • Turnover in last 12 months with supporting documents
  • Details about expected turnover in next 30 days
  • Details about  expected exempt supplies
  • Imports and Exports
  • GCC activities of the Business
  • Details about Customs registration information 

For a no obligation initial consultation, please contact:
Mr. Reyees. K.P | Director
ARC Associates
Tel: +971 4 4431604
PO BOX 390831
Mob : 055 4874391
B2B Tower , Office 1213
Business Bay
Dubai, UAE
Email: info@arcauditing.ae                                                                                             

EXCISE DUTY STOCK AUDITORS IN DUBAI

EXCISE DUTY STOCK AUDITORS IN DUBAI

EXCISE DUTY STOCK AUDITORS IN DUBAI

EXCISE DUTY STOCK AUDITORS IN DUBAI : As per the Federal Decree Law No. (7) Of 2017, excise tax law will come into implementation from the 1st October, 2017. As we are stepping forward in the month of October, the authorities have confirmed that Excise Tax will be into full-fledged action from 1st October, 2017.

Due to the implementation of the Excise Tax in the nation, it would demand the businesses and corporate houses to be more responsible and take care of the stocks that they hold of the goods that are covered under the Excise tax law.

In order to keep a sound track of the movements of the Excise tax goods, the most convenient option for the businesses would be to hire a stock auditor that could manage and check the accuracy of the goods moved in and out during the transactions of the businesses. ARC Associates – auditors and consultants are one of the leading auditors in the Dubai and Abu Dhabi, who not only provide internal and statutory audit but also provide stock audit facilities to its clients.

Stock is one of the main assets that would lead a business to earn profit or suffer losses. Any carelessness or miscalculation in the transactions involving cash could become detrimental for the survival of the business in the industry. With the Excise Tax into the picture, it is necessary for the businesses dealing in Excise goods, to manage their accounts with much accuracy and keep them updated. Apart from this basic requirement, Article 24 of the Federal Decree Law No. (7) Require businesses to keep the records of all produced, imported, exported and stockpiled Excise goods and also the records of the stock levels along with the details of the damaged goods.

Stock audit involves the physical verification of the stock available with the business in their warehouses. Apart from this, stock audit covers the following actions under its scope to ensure:

  1. The stock value confirms with the value in the books of accounts.
  2. Proper storage of stocks
  3. Whether stock is owned by the borrower and finance is made available.
  4. Whether the stock is carefully and rightly classified under different categories.

With an expert team who are highly qualified professionals and auditors, ARC Associates – one of the best auditors will help you to check the accuracy of the stock records and the compliance with the requirements and regulations of the Authority to avoid the penalties. Apart from conducting the stock audit for your business, we – the team of ARC Associates will also provide you with the expert insight on the various issues and queries of the newly introduced tax in the UAE – the excise tax as well as the VAT.

For a no obligation initial consultation, please contact:
Mr. Reyees. K.P | Director
ARC Associates
Tel: +971 4 4431604
PO BOX 390831
Mob : 055 4874391
B2B Tower , Office 1213
Business Bay
Dubai, UAE
Email: info@arcauditing.ae                                                                                             

INVENTORY VALUATION IN THE UAE

INVENTORY VALUATION IN THE UAE

INVENTORY VALUATION IN THE UAEINVENTORY VALUATION IN THE UAE: The inventory held by a business enterprise is one of the most important assets that the business owns. Inventory or stock is anything that is held by the business for the purpose of sale or to generate revenues over a period of time.

As the inventory is responsible for the amount of profit earned by the business, inventory also demands careful attention in the recording and valuation. If there is misrepresentation in the valuation of the inventory held by the enterprise, it can lead to a lot of issues that will be responsible for the amount of losses borne by the business.

It is important that inventory is calculated and valued in the right manner so as to know the true and the fair financial position of the business. There are several methods that can be used to value the inventory and it is necessary to keep track of the movement of the inventory and the details regarding the damaged and wasted stock should also be managed for further planning and control of inventory.

Inventory Management is one of the fastest emerging concepts and theory and it is very important for every business to adopt this in order to ensure that the inventory is carefully managed and processed over time.

With the introduction of excise tax in the UAE, it becomes a necessity for the businesses dealing in the excise goods to be more careful about the inventory they own and track in and out of the inventory. Excise goods include the tobacco products, energy and carbonated drinks.

ARC Associates – auditors and consultants in the UAE provide the inventory valuation services to our clients and the dedicated team works to provide the best quality service to the clients. Inventory valuation in regard to the Excise Tax in the UAE, will be managed by the professionals at ARC Associates.

Along with the inventory valuation services, we at ARC Associates, will provide the best support and guidance on all topics and queries related to the Excise Tax and the Value Added Tax.

For a no obligation initial consultation, please contact:
Mr. Reyees. K.P | Director
ARC Associates
Tel: +971 4 4431604
PO BOX 390831
Mob : 055 4874391
B2B Tower , Office 1213
Business Bay
Dubai, UAE
Email: info@arcauditing.ae                                                                                           

VAT ENQUIRY AND HELP CENTER

VAT ENQUIRY AND HELP CENTER

VAT ENQUIRY AND HELP CENTERVAT Enquiry and help center:-  VAT in UAE is one of the most discussed and hot topic these days. As the days are passing by and the date of commencement of VAT in the UAE is approaching, there are a lot of VAT queries and questions that are revolving in the minds of not only the businesses but even the consumers.

The businesses are becoming informed and gaining knowledge about the VAT in UAE and different implications of Value Added Tax but it is always better to be informed and updated by the new provisions and legislations in the VAT as and when issued by the Federal Tax Authority.

ARC Associates – Auditors and Consultants in Dubai, have an expert team who will not only make you informed about VAT in Dubai, but will also guide you to take specific precautions and measures in order to save yourselves from the penalties due to non compliance. ARC Associates will provide step by step VAT guidance and act as a VAT help center to your business house.

Whether it be a VAT related issue or the simplest question or query on VAT, we at ARC Associates are always there to help and provide the clients with the best knowledge and guidance on VAT in Dubai.

It is said that it is better to be informed and take a decision, rather than taking a decision in haste and facing the adverse effects of a wrong decision. So, get informed on VAT in UAE and know about all the procedures and requirements for VAT registration, what to do and what not to do so that VAT in UAE turns out to be in your favor. For best assistance and help on VAT related services, please contact ARC Associates, one of the best consultants in the UAE.

For a no obligation initial consultation, please contact:
Mr. Reyees. K.P | Director
ARC Associates
Tel: +971 4 4431604
PO BOX 390831
Mob : 055 4874391
B2B Tower , Office 1213
Business Bay
Dubai, UAE
Email: info@arcauditing.ae                                                                                             

VAT ACCOUNTANTS IN DUBAI

VAT Accountants in Dubai

VAT Accountants in Dubai: Bookkeeping is one of the main essentials to have a perfect and well maintained book of accounts. It not only helps in determining the financial position of the business but also helps in identifying the transactions that are responsible for the financial position of the business.

So, it becomes really important that the books of accounts are prepared systematically and free of errors. We, at ARC Associates provide the best bookkeeping and accounting services in Dubai, Abu Dhabi, Sharjah and other emirates of the UAE.

With the implementation of VAT in UAE, proper books of accounts will be one of the major requirements for any business to survive this new legislation. Recording of all the invoices, expenditures etc will be imperative so that the Tax filings and returns can be made timely and without any errors. Moreover, the accounts records have to be kept for a period of 5 years and have to be presented for the tax audit as and when demanded by the Authority.

ARC Associates has a professional team of chartered accountants, bookkeepers who have expertise in many of the accounting software and can handle the VAT Accounting in a systematic and regular manner.

Outsourcing the VAT Accounting in the UAE to ARC Associates will help you to focus more on your business objectives without delay and errors in the accounts of your business, as we provide the best accounting services in the UAE.

 In order to follow all the rules and regulations laid by the Federal Tax Authority of the UAE, and timely filing of returns and well maintained books of accounts, approach ARC Associates for all VAT Services in UAE at one place.

VAT CONSULTANT IN DUBAI

VAT CONSULTANT IN DUBAI

VAT consultant in DubaiVAT Consultant in Dubai: ARC Associates – Auditors and Consultants in Dubai provide best consultancy services to the clients in Dubai. We at ARC Associates have a great team that caters to the clients as their consultants.

With the introduction of the taxation in the UAE, and the implementation of VAT in Dubai, we will guide your way and ease out your difficulties that might arise when VAT is implemented. Being a VAT Consultant in Dubai, we at ARC Associates would assist you in each and every step to be well versed with the regulations and procedures required to comply with all the VAT requirements.

VAT and taxation laws being new to the country of UAE requires all the business houses and firms to prepare themselves for VAT. ARC Associates will provide VAT Consultancy Services in Dubai and carry out all steps and procedures that will save your firm from facing losses as well as the penalties for non adherence and prepare your business to handle this new law with least amount of difficulty.

The introduction of VAT from 1st January, 2018, has popped several questions in the minds of the businesses, customers and all other residents in the UAE. For answer to every question of yours regarding the VAT, contact ARC Associates and get the perfect answer to your query, with the best VAT Consultant in Dubai.

We at ARC Associates not only provide assistance in complying with the rules and regulations, but our VAT Consultants also point out the financial challenges that your business could be exposed to with the implementation of VAT in UAE. Knowing about your financial challenges helps you prepare yourselves better and cut out the future losses and face those financial challenges with a proactive strategy.

For having a detailed knowledge about the VAT Legislation, the VAT procedures, the VAT registration, the returns and filings, please feel free to contact a VAT Consultant in Dubai at ARC Associates.

For a no obligation initial consultation, please contact:
Mr. Reyees. K.P | Director
ARC Associates
Tel: +971 4 4431604
PO BOX 390831
Mob : 055 4874391
B2B Tower , Office 1213
Business Bay
Dubai, UAE
Email: info@arcauditing.ae                                                                                             

VAT CONSULTANT IN ABU DHABI

VAT CONSULTANT IN ABU DHABI

VAT CONSULTANT IN ABU DHABIVAT Consultant in Abu Dhabi:ARC Associates – Auditors and Consultants in Dubai have opened up their branch in the city of Abu Dhabi and will provide the best consultancy services to the clients in Abu Dhabi.

With the introduction of the taxation in the UAE, and the implementation of VAT in the UAE, we will guide your way and ease out your difficulties that might arise when VAT is implemented. Being a VAT Consultant in Abu Dhabi, we at ARC Associates would assist you in each and every step to be well versed with the regulations and procedures required to comply with all the VAT requirements.

VAT and taxation laws being new to the country of UAE requires all the business houses and firms to prepare themselves for VAT. ARC Associates will provide VAT Consultancy Services in Abu Dhabi and carry out all steps and procedures that will save your firm from facing losses as well as the penalties for non adherence and prepare your business to handle this new law with least amount of difficulty.

The introduction of VAT from 1st January, 2018, has popped several questions in the minds of the businesses, customers and all other residents in the UAE. For answer to every question of yours regarding the VAT, contact ARC Associates in Abu Dhabi and get connected to the consultant for all the answers to your queries.

We at ARC Associates not only provide assistance in complying with the rules and regulations, but our VAT Consultants also point out the financial challenges that your business could be exposed to with the implementation of VAT in UAE. Knowing about your financial challenges helps you prepare yourselves better and cut out the future losses and face those financial challenges with a proactive strategy.

For having a detailed knowledge about the VAT Legislation, the VAT procedures, the VAT registration, the returns and filings, please feel free to contact a VAT Consultant at ARC Associates, Abu Dhabi.

 For a no obligation initial consultation, please contact:
Mr. Reyees. K.P | Director
ARC Associates
Tel: +971 4 4431604
PO BOX 390831
Mob : 055 4874391
B2B Tower , Office 1213
Business Bay
Dubai, UAE
Email: info@arcauditing.ae                                                                                       

VAT AGENT IN SHARJAH

VAT AGENT IN SHARJAH

1315dac0-3b70-4693-a37b-49e3b700a31dFor an individual to be a tax agent, he needs to fulfill the following conditions:

  1. Tax Agent should be of good conduct and behavior and not involved in any criminal cases.
  2. Tax Agent should hold accredited qualification from a recognized university.
  3. Tax Agent should be medically fit to carry out the duties of his profession.
  4. Tax Agent should hold professional indemnity insurance.

ARC Associates fulfills all the above mentioned conditions to be a Tax agent in Sharjah, UAE. All the documents and records of the taxable person will be kept with the tax agent and the agent will be acting on behalf of the taxable person and represent him in front of the tax authorities in the UAE.

The Federal Law No (7) of 2017 on Tax Procedure Law, in Chapter 1 defines Tax Agent. Tax Agent is a person who is registered with the Authority in the Register, who is appointed on behalf of another Person to represent him before the Authority and assist him in the fulfillment of his Tax obligations and the exercise of his associated tax rights.

It is very important that all the necessary documents, records are kept safe and properly maintained. We, at ARC Associates have a qualified team of chartered accountants, auditors and consultants who provide the best accounting and auditing services in the Dubai, Abu Dhabi and Sharjah in the UAE and cater to all the needs of the clients.

As a tax agent in Sharjah, ARC Associates will handle all the proceedings and procedures effectively on behalf of the taxable person and represent the taxable person in front of the Authorities.

For hassle free and assured services as a tax agent in Sharjah, please contact ARC Associates – Auditors and Consultants in UAE.

For a no obligation initial consultation, please contact:
Mr. Reyees. K.P | Director
ARC Associates
Tel: +971 4 4431604
PO BOX 390831
Mob : 055 4874391
B2B Tower , Office 1213
Business Bay
Dubai, UAE
Email: info@arcauditing.ae