VAT, or Value Added Tax, is an indirect tax that is levied on all taxable goods and services. Registered sellers will collect VAT from buyers on behalf of the government, which makes it an indirect tax.

As per the Federal Law No. (7) of 2017 on Tax Procedures, a taxable person needs to submit a VAT return in UAE with the information and data specified for Tax purpose in accordance with the form, specified by the Federal Tax Authority (FTA). Every taxable person is required to submit the VAT Return for each tax period within the time prescribed by the FTA and this must be in accordance with the provisions of the UAE VAT law. The taxable person is also liable to remit the tax due to the FTA, within the time frame specified by the UAE VAT Law.

At TaxAid, we ensure that all the VAT compliances are properly followed and help you to ensure that the VAT returns are properly filed on time. During a VAT return preparation, we ensure that all the key details for revenue recognition are clearly followed and checked, this can help the client to avoid overpayment of taxes. Once engaged, TaxAid completely undertakes the responsibility of the compliance and we will ensure that our representative will lead FTA’s tax audit on behalf of the client (If required).