TAX SERVICES

Value Added Tax (or VAT) is an indirect tax. Value Added Tax or VAT is a tax on the consumption or use of goods and services. A VAT is levied at the point of sale. VAT was introduced across the UAE on 1st January 2018 at a standard rate of 5%.

The Federal Tax Authority (FTA) is the governmental entity responsible for the administration, collection, and enforcement of federal taxes in the United Arab Emirates…

VAT (Value Added Tax) compliance services help businesses meet their VAT obligations and avoid penalties for non-compliance. These services are especially useful for businesses that operate in multiple jurisdictions, each with its own set of VAT rules and regulations.

Ally Accounting & Auditing providing advice on a wide range of VAT-related issues, such as how to structure transactions to minimize VAT liability, how to handle VAT on international transactions, or how to apply for VAT…

VAT (Value Added Tax) Audit Services focus on the review and examination of a company’s VAT records and processes to ensure that it is complying with all the relevant VAT laws and regulations in its jurisdiction.

Ally Accounting & Auditing helps organizations identify potential errors, omissions, or inconsistencies in their VAT reporting, which can prevent costly fines and penalties. They can also provide reassurances to company management that their VAT processes are robust and effective.

The Federal Tax Authority (FTA) in the United Arab Emirates (UAE) has established a process known as Voluntary Disclosure for correcting errors or omissions in tax returns, tax assessments, or tax refunds. This process allows businesses to voluntarily disclose mistakes to the FTA, which can help them avoid penalties and ensure they are compliant with UAE tax laws.

By using Ally Accounting & Auditing service for VAT Voluntary Disclosure, businesses can ensure that your disclosure…

Hey, If you’ve received a VAT penalty from the FTA, and you believe it’s unjust or was issued based on an error, You may need a tax professional to reconsider the penalty.

If you’re unsure about any part of this process, or if your case is complex, and you have stucked in the messed records, we will be there to help you. Ally Accounting & Auditing can provide advice tailored to your situation, help you…

A Tax Residency Certificate (TRC), also known as a Tax Domicile Certificate, is a certificate issued to eligible government entities, companies, and individuals to take advantage of the Double Taxation Avoidance Agreement (DTAA) that the UAE has with various countries. The certificate helps to prevent double taxation on foreign-sourced income.

Ally Accounting & Auditing guides you with regards to Tax Residency Certificate.

Get the VAT ready for Vat Return/Vat submission.

What is a Tax return?

A Value-Added Tax (VAT) return is an official document that you must submit to the Federal Tax Authority (FTA) in the UAE at the end of each tax period. It provides a comprehensive summary of all your business transactions related to taxable goods and services during that period.

Depending on the specifics of your business and the nature of your transactions, you might also…

Ally Accounting & Auditing offers advice and guidance on UAE VAT laws and regulations, ensuring the business understands its obligations. In additional our services include, such as assisting with VAT return preparation, advising on VAT accounting and record-keeping, or providing training on VAT compliance.

However, there may be circumstances when a business needs to be unregistered for VAT. For example, a business may want or be required to deregister if it ceases to trade, or if its taxable turnover drops below the VAT registration threshold.

The process of VAT deregistration often involves notifying the appropriate tax authorities and providing the necessary documents to prove that the business is eligible for deregistration.

Ally Accounting & Auditing assists businesses with the process…

Excise duty: This is often imposed on goods that are considered harmful or potentially harmful to human health or the environment. Common examples include tobacco products, alcoholic beverages, and certain energy-dense foods or drinks. To collect this tax, businesses producing, importing or selling such goods are usually required to register with the Federal Tax Authority.

Customs Duty: It is a type of tax that is levied on goods imported into a country. The rate of…

United Arab Emirates (UAE) has introduced corporate income tax, effective from June 1, 2023; hence, the first tax period will be June 20, 2023, to May 31, 2024. The return filling due date for the same will be February 28, 2025.

Corporate Tax in UAE:

The UAE Ministry of Finance has introduced Corporate Tax, a direct tax imposed on the net income of corporations and other businesses, on 9th December 2022 and this is going to…