Are you aware of Reverse Charge Mechanism in UAE VAT?
If you import goods or services from outside the GCC countries Reverse Charge Mechanism is applicable in UAE. As a registered supplier making a taxable supply, you need to charge VAT and pay the same to the government. But, in the case of Reverse Charge Mechanism, the responsibility of paying taxes is shifted from the […]
Are you giving VAT exemptions? Be careful, it may pinch your pocket
All registered businesses were reminded to collect VAT on their taxable transactions by FTA. The regulator, said this while issuing a warning against concessions allowed to individuals or organizations that do not fall under any of the exempted categories specified in the UAE tax laws. Suppliers to be liable for not collecting tax […]
VAT Filing: Accuracy a Big Concern
Around 50% of the UAE SMEs faced challenges in VAT filing. As the deadline just passed for April filing, it emerges that most of them were not sure about the return filing procedures and importance of accuracy while filing the return. This happened as most of them were filing the VAT for the first time. […]
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 […]
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 […]
EXCISE DUTY STOCK AUDITORS IN DUBAI
EXCISE DUTY STOCK AUDITORS IN DUBAI: As per the Federal Decree-Law No. (7) Of 2017, the 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 […]
INVENTORY VALUATION IN THE UAE
INVENTORY 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 […]
VAT ENQUIRY AND HELP CENTER
VAT Enquiry and help center:- VAT in UAE is one of the most discussed and hot topics 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 […]
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 […]
VAT CONSULTANTS IN ABU DHABI
VAT Consultants 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, […]