VAT Implementation Service

Businesses Need to Take Necessary Steps for VAT Implementation in UAE

VAT Implementation in UAE

VAT implementation can be a tricky matter since VAT is just easing its way into UAE. We, at the DDP Accounting & Bookkeeping , will make your transition and implementation of VAT easy and smooth.

VAT implementation is a step towards a breakthrough in the standard of living of people of UAE. VAT may seem to be a complex process but with pragmatic and comprehensive approach, it can be tackled with flair. In order to implement VAT within an organization, one
must have done a thorough study and analysis of the business model. This will help them to have a better understanding of the various sectors of the organization. The prerequisite to understanding any organization is the identifying the rules and customer base associated to one’s industry.

In order to implement VAT effectively, businesses have to undergo the following processes.

  • Understand the laws of the FTA and the UAE laws pertaining to taxation.
  • Understand the business processes, transactions and its flow.
  • Review the existing contracts with customers, suppliers and other parties and learn the impact on the business.
  • Provide VAT training to employees.
  • Understand the impact of VAT on your business.
  • Register your business with FTA.
  • Identify VAT related issues and rectify them.
  • Have a plan ready for VAT implementation.

VAT implementation requires proper planning and processing of the various transactions, documentation, and other VAT related documents. Businesses have to plan and process the VAT implementation as follows.

  • Evaluating the various business transactions for hassle free implementation.
  • Understanding the implications of VAT based on the current business model.
  • Evaluating the readiness of the business to embrace VAT with regards to the technology, tools and equipment.
  • Designing a blueprint of the VAT implementation and its impact on one’s business.
  • The IT systems should be prepared and prepped to be in accordance with the VAT regulations.
  • Identify the resource requirement for the business to make a smooth transition into the new taxation regime.

How DDP Accounting & Bookkeeping makes the implementation smoother?

  • Our team of VAT experts understand the nature of your business and its model and the calculations based on the transactions of the business.
  • We will guide you through the VAT registration process and develop proper implementation plan.
  • We will guide the core VAT council of your business in the VAT implementation process.
  • We will guide your IT department to be ready with the tools and techniques required for the VAT implementation.

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