VALUE ADDED TAX
Value Added Tax
A value-added tax (VAT), also known as a goods and services tax (GST) in certain regions, is imposed on the cost of goods or services at each stage of their production, distribution, or sale, ultimately affecting the end consumer. In the United Arab Emirates (UAE), VAT was implemented on January 1, 2018, with a standard rate of 5% applying to most goods and services, albeit with some exemptions. At Strategists Consultant, we offer a dedicated team equipped to support clients in VAT planning, analysis, and advisory services, both domestically and internationally. Our aim is twofold: to identify and mitigate tax risks within the UAE and abroad, and to explore avenues for tax savings and opportunities, particularly given the substantial treasury involvement concerning VAT. Our efforts are geared towards achieving savings in absolute terms as well as those with significant financial implications. Given the increasing reliance on technology by governments to enhance tax compliance, particularly in the realm of indirect taxes, understanding and effectively managing the impact of these taxes on your operations, whether local or global, is paramount. In this digital era, staying abreast of evolving regulations and proactively managing indirect taxes is essential to minimize exposure and maximize value. Our team comprises subject matter experts spanning various industries and markets, offering commercially oriented support and guidance on all matters related to indirect taxes. Regardless of your business profile or geographical scope, we possess the expertise to deliver value-added services tailored to your needs.
Our service offerings encompass
- VAT Advisory Services.
- VAT Compliance, including VAT return preparation and submission.
- VAT Dispute Resolution.
- VAT Due Diligence Review.
- VAT Refund Assistance.
- Preparation and submission of voluntary disclosures.
- Preparation and submission of VAT clarification requests to the Federal Tax Authorities.
- Preparation and submission of VAT reconsideration requests to the Federal Tax Authorities.