Calculating VAT returns is not a simple process. It involves computing the total taxable supplies and exports in every given period. For business organizations who don't have skills, the VAT return in the UAE is a pretty challenging task. Furthermore, the FTA has specified structures that are many times complicated for their submission. Therefore, eligible businesses need to seek VAT return filing services in the UAE from companies with experience preparing and filing VAT returns.
How to File VAT Returns in the UAE
- Gathering of Relevant Documentations for VAT Return: Collection of all necessary documents to file with the VAT return.
- Document Scrutiny: We scrutinize every document filed with minute details.
- Verification of Discrepancy: It will highlight all the discrepancies and initiate the appropriate action against them.
- Reviewing for Remedial Actions: All types of necessary rectifications would be done to set things right.
- VAT Return Filing: VAT return would be filed in time.
- Periodic follow-up regulation: The company ensures periodic follow-up to ensure the correct implementation concerning the necessities and brings it right about the problem raised.
Why VAT Return Should be Filed in UAE
A VAT return needs to be filed compulsorily by the registered businessman, which has to be submitted by FTA on or before the due date. It is to be submitted periodically as per your tax period. The effective filing of a VAT return not only builds legitimacy for your business but also ensures that the operations are properly protected legally as well as serves the future interests of your company by preventing any possible revenue leakages.
VAT checks & Planning Validation
Regular audits and adherence to VAT compliance can remarkably help your business. Here are some services we offer:
- Complete VAT planning guidelines and suggestions for correction
- Preparing all management reports according to the standards applied
- Address the areas of concern
- Analysis of the legal strategy that will minimize the total liability of VAT
- Reviewing unaccounted activities or documents
Major Errors Involved in Filing a VAT Return in the UAE
Avoid the following VAT return filing mistakes:
- Failure to account for the Reverse Charge Mechanism
- Misapplication of the adjustment columns
- Failure to update records
- VAT calculation errors
- Mistakes in approaches toward VAT compliance
- Neglect zero-rated and exempted sales
- Input credit fault on blocked or disallowed expense
- Accidental reporting of standard-rated sales as zero-rated and vice versa
Why BMS Auditing?
At BMS Auditing, our seasoned VAT consultants deal with managing your VAT return filing needs in the UAE. Being approved VAT agents, we relieve the burden from your business while ensuring that the owners are empowered to take control of their tax obligations. Our smooth approach allows for the efficient and effective handling of your VAT matters.
How BMS Auditing Can Assist You
Our VAT return filing services at BMS Auditing are custom-designed for your needs. We are aware of the procedures of your business, transparent in our workings, and seek to reduce costs while maximizing returns through efficient tax practices.
Services We Offer:
- Tax compliances
- Legal activities
- Advice and assistance in VAT return filing
- File and submit VAT returns
- Response on your behalf to the Tax Authority regarding the penalty
- VAT Return filing is accurate and error-free with correct accounting records
Get Started Today
Let BMS Auditing smoothen out the complexities of VAT return filing. Contact us today to learn how we can help your business navigate the UAE VAT landscape. Success in your books is our priority
