Tax & VAT Consultancy

A tax auditing is the official inspection or examination of the tax department to the tax return that declares by taxpayers as required by law. Different countries have various definitions. As far as UAE system of tax auditing is concerned audit is the process or procedure performed by the official auditors broad to inspect the accuracy of the business financial record to regulate tax system. Tax system is a revenue generating source to strengthen the economy of a country. FTA A Tax Audit in Dubai is the government assessment of an organization about its responsible as a taxable entity. Tax audit is conducted by federal tax authority to check the liability is paid and every tax is collected and handover to the government within timeframe provided. Procedure of tax auditing FTA has the authority in the UAE to check the returns and others details concerned with tax auditing. There is no reason to conduct the detail by FTA . First the notice is issued to the company. An audit par...

Vat stands for value added tax was introduce in the UAE on 1 st January 2018.vat is based on the value of goods and services. Vat is also known as goods or services tax. Vat is indirect tax while (GST) general sales tax is direct tax collected only once paid by the consumers. Vat is the consumption tax placed on the products whenever value is added at each stage of the supply chain from the production to the point of sale. GTS or vat is the major revenue of the state.it is vary from country to country. Vat rate of the UAE is 5%.Tax is the major source of revenue by which a government raise revenue to pay for public services such as amenities education sector, health, defense and infrastructure etc. Excise Tax The UAE system is very strong and stern. There is another tax levied by UAE government i.e. Excise tax it is also main source of revenue. This tax has been imposed in 2017.it is indirect tax imposed on such goods that dream to be harmful to the human health and environment....