SERVICES

Internal Audit & Assurance

  • Internal Audit Services
  • IFRS Financial Statements
  • Audit Assistance
  • Due Diligence

ACCOUNTING & BUSINESS ADVISORY

RVG offers customized Accounting & Advisory services entailing paramount quality account and financial record maintenance and customer support. We help you to significantly reduce the administrative burden and exuberant financial costs incurred.

COMPANY INCORPORATION

  • Mainland Company Incorporation
  • Free zone business setup
  • Offshore Company Incorporation

IT SERVICES

  • Information Systems Audit & Risk Management
  • ERP Implementation

VAT

  • VAT Consultancy Services
  • VAT Implementation Services in UAE
  • VAT Return Filling & Compliance

FREQUENTLY ASKED QUESTIONS

Whether the FTA has announced the final law for VAT in United Arab Emirates?
A) Yes, FTA has announced the executive regulations on VAT in UAE which is available in the web site of FTA (www.tax.gov.ae). All the provisions on VAT laws and regulations and many public queries are clear through the Executive Regulations.
Whether VAT implementation started in UAE?
A) Yes, UAE has moved to VAT regime with effect from 1st January 2018 and all businessmen who meet the turnover threshold limit should charge VAT on the transaction at 5{27dc86bc984fa3fc0de30e70411626d3d13e8a2ad91fe7f3277d7e65a7a66ed8}, except those transactions which are announced as zero rate or exempt. The details about the standard rate, zero rate and exempt items are included in the executive regulations.
What is the deadline for VAT Return filing and payment, is the dates are different for payment and Return?
A) The deadlines for VAT Return filing and payment are defined in the Tax Registration Certificate and these are either monthly or quarterly based upon the conditions by FTA. The due date for VAT Return and payment is 28th day after the tax period closing (monthly or quarterly). There is no different dates for Return and payment.
How to remit VAT amount collected to Govt.?
A) We can follow E Dirham option for tax remitting. FTA has suggested to keep ready by getting the E Dirham card from proper channel with sufficient credits available.
Do we need to keep mandatory books of accounts for VAT?
A)Yes there are certain set of documents to be kept by all registered persons for VAT, as per the guideline issued by FTA. Certain set of documents should be kept for a period ranging from 5-15 years.
Whether we are eligible to claim all Input VAT incurred in UAE?
A) Yes, input VAT incurred in UAE are eligible to claim and adjust against the output VAT, except on those specific cases announced by FTA. Most of the input VAT is eligible to claim if this is not personal, entertainment or leisure or anything not related to the business.

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