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VAT Accounting

VAT Accounting

Best VAT Accountants in the UAE answer what is VAT?

A charge imposed on certain provisions of goods and services in the UAE is VAT (Value Added Tax). VAT is calculated and charged on the value of the services or goods delivered in the course of each sale or purchase.

Unless simple things are done timely and accurately, VAT is not a cost to the business. VAT is a form of indirect tax if the government requires you to be an agent for collecting and handing over taxes to the government. The tax (VAT) collected on sales is payable to the government and the tax (VAT) you paid on the purchase account is receivable by the government. Therefore, the difference is your government payable or receivable.

 

VAT Accounting Consultancy and Audit

VAT is a transaction tax and therefore influences many of your business processes. The need for VAT accounting measures and checks subsequently arises. If there is a lack of ownership, control or perceptibility that covers any of these areas, this may affect the submission of VAT returns and the financial statements. You may be subject to heavy fines and penalties if the information is not provided accurately.

ARC Associates VAT Accounting consultants provide you with the exclusive range of services that we can provide to the VAT accounting and tax compliance requirement of your company. Our accurate VAT accounting review–measures & delivers benefit by finding an efficient way to control VAT functions in your business wherever possible. We also ensure that VAT audit and other applicable requirements are met by the processes and controls. With all your VAT accounting needs, we are here to support you.


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