Globally VAT requirements or VAT accounting are distinct in different countries in the world. These VAT regulations can be changed at any point in time and companies registered under VAT are ready to update these changes. Sometimes it becomes a challenge for companies to incorporate these changes in their system. Being a Tax Accredited Software (TAS) in UAE our functional experts are ready to steer you in all types of VAT concerns.
Once you are registered under VAT in UAE, you must file your periodic legal declarations monthly or quarterly to Federal Tax Authorities. It is a transparent summary of all transactions based on the business executed in a specific period which contains VAT assent in all financial transactions.
Each VAT return is distinct in nature and contains different information and provisions based on the type of business. Facts are well aware of these processes and we know the complete guidelines and information’s for filing VAT returns in UAE. For filing returns, it requires solid knowledge of local tax legislation policies and procedures. Any discrepancies from these fundamental prerequisites will attract huge penalties. For avoiding these discrepancies, we have to keep all VAT invoices for a period of 5 years.
FTA can ask these invoices for verification at any point in time. Facts Billbox is a wonderful solution for this.
Being a TAS software we are also providing free consultancy for the same.
Why Facts?
For any VAT related concerns, write us info@facts.ae or call: +971 4 3529915, +971 55 899 3902