Tax Consultancy Services in UAE
Over the years, we are providing impeccable services to valued clients related to business solutions, related to Tax. We have a complete range of products capable to manage all your business requirements and delivered by meeting the world standards with great customer feedback. We identify your Business needs and give you ultimate comfort in your business operations.
We can manage your VAT implementation project from start to finish. Prepare yourself for VAT planning and its implications. We add value by providing services We provide VAT Advisory, Tax Optimization, Implementation and Training Services. Our team of senior qualified tax advisors, finance experts and tax accountants will ensure a timely and cost effective VAT services. In addition to advisory and implementation services our teams are available for the support of our valued clients.
• VAT planning and structuring
• VAT Registration
• VAT Impact Analysis
• VAT Transactional Impact
• VAT Compliance
• VAT Return Filing
• VAT ERP Solutions
• VAT Compliance Solutions
• VAT Inspections Support & Assistance
• VAT Audit Assistance
• Real Estate VAT Advisory
• VAT Retail Documentation and Compliance
• E-Business VAT Implications
• Internal VAT Audits
• VAT Expert Support in Investigations
• Industry Specific VAT Solutions
• VAT Training & Testing
• Customized VAT Roles and Assistive Role of Tax Agency
UAE Federal Law on Tax Procedures | Overview
VAT Due Diligence With tax, accounting and legal expertise, amongst a host of other competencies to call on, Berkeley Middle East Consultants can conduct the appropriate due diligence on your business enterprise, no matter the size or complexity, to analyze the impact that VAT will have on your systems, procedures, policies, staff competence, supplier compliance and even your corporate structure, and report the risks that each element of your business will be exposed to and recommend corrective measures. This will enable management to make the best decisions to ensure successful implementation for a sustainable solution and also to mitigate the overall impact on VAT on your business and its success.
VAT Readiness Assessment In the event that a full due diligence is not a current priority and a simple exercise is preferred in order to ascertain which elements of your business will attract VAT responsibilities, Berkeley Middle East Consultants can conduct a “readiness assessment” and give you a comprehensive report on the identified aspects of your business that will require attention.
System Assessment Berkeleyme Consultants can conduct assessments on your ERP systems and other accounting systems to determine configuration changes required and adaptation to cater for VAT.
VAT Registration With the expected rush for registration and usual processing and administrative issues, Berkeley Middle East Consultants can provide the necessary support to facilitate the entire registration process and make it as simple as possible.
VAT Training From sales persons and creditor clerks to accountants and senior management, training on the implementation and day to day administration of VAT will be imperative to ensure the VAT does not become a cost the business. VSG have appropriate training modules to suit each staff grouping and departmental category to ensure that training courses provide the relevant detail at the relevant level.
UAE Federal Law on Tax Procedures | Importers and Exporters
UAE Federal Law on Tax Procedures | Consumer Business
VAT RETURNS | VAT MANUALS, POLICIES AND PROCEDURES | DISPUTE RESOLUTION
VAT Returns: At the stressful times for the responsible employees, particularly in a new VAT environment where many employees have limited experience, Berkeley Middle East Consultants can assist with the completion of periodic returns and ensuring timely and accurate filing of VAT calculations and attending to any queries raised by the relevant authorities.
VAT Manuals, Policies and Procedures: Berkeley Middle East Consultants has the expertise to generate customized VAT manuals, policies and procedures to cater for your particular business to ensure strict compliance with the requirements of VAT compliance and also to avoid penalties and interest that may be incurred in the case of any non-compliance by the business and employees.
Dispute Resolution: In our experience disputes arise from time to time in the normal course of business, and so will disputes arise with regard to VAT. Such disputes will be particularly prevalent during the initial stages of implementation, with VAT being a new concept in the GCC. Managing disputes is a time consuming task for which existing staff may not necessarily be equipped for or have the time to deal with. Berkeley Middle East Consultants is capable of alleviating the problem by providing a platform to whom to delegate these incidents and provide cost effective solutions.
VAT AUDITS | VAT RULINGS | TAX CLEARANCE CERTIFICATES
VAT Audits: A regular VAT audit is always a good idea, particularly in the early years to ensure proper compliance and correct implementation and accounting. The VSG team can provide independent assessments periodically or on an ongoing basis to prevent possible non-compliance and even the identification of any under claiming of VAT input credits.
VAT Rulings: Legislation does not always cover each and every imaginable situation that may arise and sometimes there are grey areas that need clarification. This may arise in respect of out of the ordinary transactions for which it may not be clear as to what the VAT impact will be on the business. Berkeley Middle East Consultants can apply for clarification and obtain VAT rulings from the relevant authorities relevant to your particular situation.
Tax Clearance Certificates: Berkeley Middle East Consultants can assist in obtaining the necessary clearance certificates that will be required for certain legal and regulatory processes.
VAT IMPACT ON BUSINESS
• Cash flow
• Vatable transactions and rulings
• Imports and exports
• Group structure
• Administrative costs
• Governance, processes and procedures
• VAT Payments
• Record keeping Technology and systems
• Systems upgrades – accounting, POS
• Data and record storage
Sales and Marketing
• Effect on demand and pricing
• Customer communication
• Current contracts Suppliers
• VAT status of suppliers
• Supplier compliance
• Current supply contracts
• Capability assessment
• Responsible officer
• Training, job descriptions
• Change management
How to file the (Value Added Tax) VAT Return in United Arab Emirates
Bahrain Federal Law on Tax Procedures - Taxable Person or Group Guide
VAT PROJECT ROADMAP | VAT COMPLIANCE
|PHASE 1||PHASE 2||PHASE 3||PHASE 4|
|Vat impact assessment, Vat project plan and strategy||Detailed design and set up phase||Implementation, testing and Go live||Post implementation and support|
|Work performed||1. Conduct stakeholder workshop.
2. Carry out VAT readiness assessment.
3. Review business as a whole and examine how it may be impacted from a VAT perspective across these dimensions:
• Sales, pricing, marketing
• Finance and Admin
• AP and AR processes
• Tax management
• Cashflow impact
• Compliance and controls
• IT Systems.
• Legal, Current and Future.
• Human Capital
4. Develop an appropriate project plan for the business to adopt with respect to its new operating environment. This plan will set out the what, when, how and by whom.
5. Review ERP / IT system capability and requirements, assist with research, assessing etc.
|1. Prepare / Review high level transaction maps prepared and identify and comment on VAT impact points.
2. High level mapping of the VAT legislation vis a vis all business transactions and processes. (Done once legislation is available).
3. Develop Input and output tax allocation matrix.
4. Complete technology assessment and plan.
5. Review of contracts and action plan developed to deal with specific issues in the contracts and the transition to a VAT environment
|1. Advising on implementation of the VAT project plan.
2. ERP / IT system detailed design and solution implementation.
3. Project manage the ERP/ IT system changes / implementation.
4. Train staff.
5. Assist in testing the system / process changes to ensure they are fit for purpose.
6. Manage all VAT transitional matters and ensure that the business is VAT ready.
7. Advise and assist with VAT registration.
8. Assisting with VAT rulings on specific transactions.
9. Assist with communication plan; internal and external.
|1. Sample checking and testing of records to ensure that the new post VAT implementation procedures are working correctly.
2. Assist staff with VAT return preparation / submission and perform high level reconciliation of VAT return to financial transactions.
3. Deal with VAT queries that may arise, internal and from the Tax Authorities.
4. Provide ongoing support as and when required.
5. Provide additional services as and when required.
|Additional actions||1. Defining employee roles and responsibilities and updating job descriptions.
2. Prepare internal VAT policies and procedures guide.
3. Cash-flow impact assessment.
4. Pricing analysis and strategy.
5. VAT guide preparation.