Value Added Tax (VAT) is the tax levied at every level of value addition done to the product across the supply chain. It is levied at every point of sale from manufacturer till it is sold to an end consumer. This achieved by allowing tax paid on purchase known 'Input Tax Credit' or also known as 'input VAT' to be adjusted with the VAT collected on sales knows as 'Output VAT'. Ultimately, the entire tax is paid by the consumer
UAE has entered into the world of Taxes very recently. While Excise Tax was introduced with effect from 1st October 2017,Value added Services (VAT) has just taken its course from 1st January 2018. The rate of Excise Tax for carbonated drinks is applicable at 50% and it 100% applicable for tobacco and energy drinks. But, at the same time the VAT rate is applicable at just a minimal rate of 5%, which is the lowest tax rate among other parts of the world. Also you have to know about Principles of VAT .
The UAE businesses are facing quiet a number of challenges while implementing VAT in their business stream to ensure that they are VAT compliant. As VAT is a newly adopted concept in the region, it requires qualified and experienced Tax professionals’ advise to support the businesses especially, while complying in the initial stages of this transition. Bestbooks Accounting FZE LLC provides experienced chartered accountants as their tax advisers. Tax Experts have relevant industry specific experience in taxation complying with international standards.
1. BestBooks Accounting FZE LLC provides qualified Chartered Accountants and Top VAT Consultants with exceptional professional experience in diverse industries from different countries with international tax experience.
2. We assist the clients efficiently to manage their VAT transactions by complying with VAT laws and advising on transactions. The TAX Experts ensure that the businesses comply with the rules and regulations so that there are no overpayments made and Input Credit is taken correctly on time. Our TAX Advisory Services is designed to comply with your business needs to cater you our best advisory services in the UAE.
We have our offices located in Ajman UAE. The TAX experts in all our office are enriched with sound experience in taxation in various industries.
We provide VAT (Value added Tax) Advisory Services and Top VAT Consultants in Ajman, Dubai, Abu Dhabi, Sharjah, Fujairah, Ras Al Khaimah & Umm Al Quwain providing clients with a wide range of TAX Services in UAE with accordance to the client’s business needs. VAT Experts at Bestbooks Accounting FZE LLC are committed to provide the best VAT Advisory Service in the UAE to the clients in compliance with the rules and regulations of VAT in the UAE. The Tax Team at Bestbooks Accounting FZE LLC are professionally equipped with relevant industry experience from different ends of the globe