VAT Law

The VAT is levied on the consumption or use of goods and services and the end-consumer is the ultimate bearer of the cost. UAE imposes VAT on tax-registered businesses at a rate of 5% on a taxable supply of goods or services at each step of the supply chain. However, businesses collect and account for the VAT on behalf of the government.

Business owners in UAE need to get their companies registered under the VAT in accordance with Federal decree-law No. 8 of 2017 on VAT and the Cabinet Decision (52) of 2017 on the executive regulations of the Federal Decree-Law No. (8) of 2017 on VAT. The VAT applies equally to tax-registered businesses managed on the UAE mainland and in the free zones.

VAT Consultancy Services offered by Finwisers Chartered Accountants

Businesses need to choose the right firm for VAT Consultancy services in Dubai, UAE based on a slew of factors including the experience of the tax consultant, expertise in finance, IT, operations, VAT computation, VAT refunds, and filing taxes. A VAT consultant with sound knowledge about all the technological advancement in the field can smoothly verify reports, claim refunds, fill forms or handle any complex issues related to VAT.

Finwisers Chartered Accountants has a qualified team of VAT consultants who are equipped with local experience about VAT accounting, VAT filing, VAT refunds and all the other laws and regulations related to VAT in UAE.

The VAT Advisory Services are:

• VAT planning in UAE
• VAT advisory services
• To recommend whether to register VAT as a single entity or a tax group
• Applicability of the reverse charge mechanism for Imports
• VAT training and awareness to staff