UAE was one of the first GCC countries to implement VAT as per the GCC council directives. UAE businesses have to record their financial transactions to make sure that all financial records are accurate and updated.
The FTA is the overseeing authority supervising all VAT filings and transactions. VAT rate is set at a flat rate of 5%. However it is important to know the exempted items and policies regarding VAT billing. Our experts provide accurate advice and practices to navigate through this new system with FTA updates coming in regularly. Vat filings are to be done by all firms with at least AED 350000 turnover. The businesses that do not meet the criteria of annual turnover and think that they don’t need to register for VAT should maintain their financial records, incase government may establish if they should be registered. We cover all your VAT needs across all aspects including Free zones, bad debt releif , real estate, VAT group, Insurance, Finance, Islamic finance and Import export transactions.