Dubai’s tax system comprises two significant indirect taxes: Value Added Tax (VAT) and Excise Tax. These taxes have had a substantial impact on the economy of Dubai, generating additional revenue for the government and encouraging businesses to become more tax compliant. If you need any help regarding both, VAT Consultancy Services in Dubai, like RBS Auditing, can assist you with the same!
VAT was introduced in 2018 and is imposed on the supply of commodities and services at a standard rate of 5%. On the other hand, Excise Tax is a tax on specific goods considered harmful to human health or the environment, such as tobacco, sugary drinks, and energy drinks. Therefore, the rate of Excise Tax varies depending on the product type.
How can RBS Auditing Help You as VAT Consultancy Services in Dubai?
RBS Auditing is a well-established auditing and consultancy firm in Dubai providing various services to businesses across multiple industries. One of the critical areas of expertise is VAT consultancy services, which can immensely benefit companies operating in Dubai, given the complex VAT regulations and the constantly evolving tax landscape.
As a VAT consultancy service provider, RBS Auditing offers comprehensive support to businesses to ensure they comply with VAT regulations and help them manage their tax affairs more efficiently.
Here are some ways in which RBS Auditing can help your business as a VAT consultancy service provider in Dubai:
- VAT registration: RBS Auditing can help businesses determine if they need to register for VAT and, if so, guide them through the registration process, ensuring all required documentation is submitted accurately and on time.
- VAT compliance: Once a business is registered for VAT, we can provide ongoing support to ensure they comply with all VAT regulations. It includes managing VAT returns, maintaining proper records, and advising on VAT-related matters such as invoicing and the VAT treatment of different transactions.
- VAT planning: We can help businesses develop an effective VAT planning strategy aligning with their business goals. It can include identifying opportunities to reduce VAT liabilities, managing cash flow, and optimizing VAT recovery.
- VAT audit: We can also conduct a VAT Review and audit to ensure that a business accurately reports and pays VAT, identifies potential risks or errors, and provides recommendations to mitigate them.
- VAT training: We can train businesses and their staff to ensure they understand the implications of VAT and are equipped to manage their VAT affairs effectively.
By engaging RBS Auditing as a VAT consultancy service provider, enterprises can avoid costly mistakes, minimize their tax liabilities, and improve their overall tax efficiency. So, if you’re a company searching for VAT & Excise Consultants in Dubai, contact us today!
