At International Auditing & Consultancy Center, we provide tax services, consultancy and tax compliance services to our clients, our consultants are experts in tax law,planning and compliance.
one of the means used by governments to cover the costs of public services, such as public universities, schools, and hospitals.So The governments depends on collecting in an organized manner.
Federal Tax Authority:
the authority competent to implement and collect the TAX , and also one of the responsibilities of the Federal Authority is to implement fines related to it. Among its tasks is also the distribution, of collected revenues, and the application of procedures, in force in the UAE. The Federal Tax Authority law includes two types.
which the government collects directly from individuals, or companies that have been imposed on them based on the conditions that require.
collected through an intermediary, such as sales and value-added tax (VAT), from persons who must pay.
What the value-added tax : (VAT)
It’s a consumption tax. imposed on most supplies, of goods and services that consumed or bought and sold. In countries that apply VAT. Whereas, the value-added tax or goods, and services tax one of the most common types in the world. So as more than 150 countries apply this .
well known that the Value Added Tax (VAT) imposed on the final consumer, a companies collect it and collect, for the benefit of the tax authorities in the countries.
As we explained that businesses are responsible for collecting the tax from the consumer and paying . Sometimes the tax that was paid to the supplier refunded. So the final value of the tax the benefits the government is considered the tax value that has been added to the supply chain. This is about value-added tax, but we need to distinguish between value-added tax and sales tax.
What is a sales tax:
Sales tax also considered an consumption tax, just like the value-added tax. This tax imposed on the final consumer only, and in many countries, the value-added tax imposed on transactions related to goods.
What is the difference between VAT and sales tax:
As it was previously explained that the value-added tax imposed in the collection of the stages of the supply chain, other than the sales tax, where the sales tax imposed at the final sale stage, and the sales tax combined with the value-added tax in that it is imposed on the consumer and with regard to the value-added tax, also imposed on imported goods. And services.
The United Arab Emirates has implemented value-added tax as of January 1, 2018 at a record rate of 5%. This is due to the aspiration of the UAE government to reduce dependence on oil in providing revenues for public services, as the value-added tax contributes to helping the government to provide high-quality services to the residents of the country. UAE.
We serve businesses and individuals alike by staying current on new law and
positioning taxpayers for short and long-term tax optimization. Our consultants’ role is not
limited to preparation of tax returns or tax Services,they also often work closely with
clients throughout the year to ensure clients’tax liability is minimized. Our team of
consultants are able to explain tax law and strategies and tax services in a way that is
accessible and easy for clients to understand.
We Help Our Partners In TAX Services With:
- Tax Planning.
- Compliance With Vat Policies.
- Advisory And Consultancy Services Tax Treaties And Policies On Tax Incentives.
- Auditing Vat Returns.
- Registration Service.
- Cancellation Service.
- Attendance And Following Up Field Auditing Works.
- Post-registration Services.
- Assisting In The Submission Of Objections In Case Of Any Dispute on Vat.
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