Value Added Taxation (VAT) Services

Advisory

In our VAT monitoring and implementation strategy, we consider below matters to devise a sustainable approach for our clients to be VAT efficient and compliant:

• Gap analysis between current VAT practices of a company and ideal VAT-compliant processes.
• Data migration and modification processes for effective VAT implementation.
• Ongoing monitoring of company’s operations under existing and updated provisions of Law and Regulations.
• Accounting & operational software requirements for VAT documentation and reporting in view of a company’s industry.

Audit

During VAT Audit, we take into account the appropriate classification and calculation of Output and Input Tax in VAT Returns including below matters:

1. Zero-rated, Exempt and out of scope supplies.
2. Single composite supply and multiple supplies in one transaction.
3. Operational and capital expenditures.
4. Supplies to, by and within freezone and designated freezone companies.
5. Place and time of supply.
6. Imports subject to Reverse Charge Mechanism.
7. Intergroup adjustments of transactions for Group VAT Return filing.
8. Imports and supplies within GCC region.

Return Filing

Return filing is not simply a matter of recording expenses and sales to calculate input and output tax for determination of tax due or recoverable, it is beyond that to know about accurate treatment and classification of below listed matters:

• Exempt, zero-rated and out of scope supplies.
• Supplies to, by and within free-zone and designated free-zone entities.
• Single composite supply and multiple supplies in single transaction.
• Capital and operational expenditures.
• Time and place of supply.
• Inter-group transaction adjustments in-case of Group Return filing.
• Reverse charge mechanism.
• Supplies and imports within GCC region.

Our experience coupled with technical knowledge in filing Group and Standalone VAT Returns of a wide range of clients among various industries, endorses us as a reliable professionals to dealt with filing of your VAT Returns in compliance with Law & Regulations.

Refunds

VAT Refunds from FTA are usually claimed in below cases:

• Exempt, zero-rated and out of scope supplies.
• Supplies to, by and within free-zone and designated free-zone entities.
• Single composite supply and multiple supplies in single transaction.
• Capital and operational expenditures.
• Time and place of supply.
• Inter-group transaction adjustments in-case of Group Return filing.
• Reverse charge mechanism.
• Supplies and imports within GCC region.

Our tax consultants have gained experience dealing with number of Reconsideration Applications and Voluntary Disclosures that have assisted our clients in obtaining their refunds, after complying with intricate procedures that we deal by preparing a persuasive draft of technical arguments and presentation of relevant matters.