Sarah Ferguson Tax Consultancy
Iris Bay Commercial Tower
7th Floor
Al Saada Street
Business Bay, Dubai
Telephone: +971 4512 5740
Email: enquiries@taxconsultancy.ae
Sarah Ferguson Tax Consultancy are VAT consultation experts and will meet business’ VAT responsibilities. Since the Government of the UAE introduced the new VAT laws at the beginning of 2018, businesses and individual entrepreneurs have been impacted. And it has become an important necessity to maintain VAT records.
VAT is a consumer tax that is collected incrementally. It is based on the production and sales of the business. The tax is imposed on sold and bought goods and service. VAT has enabled the UAE Government to bring revenue through tax and reduce their dependency on oil. They have made it their objective to look at alternative and studies have indicated that VAT will generate billions.
As businesses file their end of year accounts, they must have detailed inventory reports for the year 2018. Businesses, both large and small should have taken stock of their inventory and verified all items. It is essential that companies maintain accurate records and documentation. The Federal Tax Authority demands complete transparency when it comes to tax documentation, ensuring that it complies with UAE VAT laws. Businesses must keep records of tax credit forms, customer contracts and vendor agreements for a period of 5 years.
Additionally, small and medium-size businesses must maintain an accurate accounting system. Using the services of tax consultant in Dubai will ensure that procedures are followed and protocols are met in compliance with UAE VAT.
The Head of Tax Consultancy Sarah Ferguson notes, “All registered businesses must file their VAT returns, show detailed records and make payments by the given deadline. VAT returns can be used during audits and the FTA can choose any time to conduct an audit on your business”.
She further states that, “We have extensive experience in VAT advisory, compliance reviews and tax filing and will provide the highest standard of service to businesses that require our expertise in the UAE”.
About Us
Sarah Ferguson is a Chartered Certified Accountant with over 15 years of experience serving a diverse range of businesses which include sole traders, start-ups and limited companies. Sarah provides a number of services including VAT, tax returns, annual accounts and payroll. She ensures her tax consultancy firm meets the needs of her clients ensuring value for money and customer satisfaction. For more information, visit https://www.taxconsultancy.ae