A E Y Accounting LLC Services
A E Y Accounting LLC team will significantly facilitate you to implement the required accounting systems. Further, it includes all the corporate and company documentation suggested during the advisory stage of VAT.
We deliver the introduction and documentation of VAT policies too, coupled with processes, and controls for small companies. Moreover, we assist in each stage of implementation. We will significantly ensure accounts payable. Therefore, receivable functions reflecting the proper VAT implementation during the implementation phase.
Services we provide:
To comply with the VAT law of the UAE, businesses in the UAE must get proper guidance. As a result, it can establish a strategy to implement a VAT-compliant system in its business procedures. The method which our tax experts adopt for significant implementation of VAT compliant processes are mentioned below:
We are always ahead to provide best accounting services to you.
What do we assure?
VAT implementation in UAE plans
VAT Implementation phases
There are a few phases of VAT implementation in UAE, and these are below:
VAT Impact Assessment
It is Phase 1, and we draft the revenue part. We significantly notice any new operational cost in the business.
Planning and implementation
Further, in the second phase, we start VAT process design with the new supply chain structure and build an IT project to provide tax-technical results. It considered VAT training material too, further for internal management while starting the process.
Transition and output testing
In phase 3, we did sample testing on the project built. Once it is done, we evaluate it from a VAT perspective. If it is yes, we need it to establish a trial run-generated VAT report, therefore, highlighting the founded issues.
Finally, there is review and cross-checking on the significance of supply chain management and sample transactions in the last phase. It can highlight particular areas according to VAT Compliance.
Impact of VAT on UAE
Since business entities have implemented VAT services, business persons have different impacts. These are below:
- The better infrastructure of the nation
- Improvement in business effectiveness
- New revenue stream to the UAE government
- Non-financial advantages such as reducing civil fraud, corruption, waste, etc.
- Costs by business persons get distributed through sales channels
- Above all, open market for advisory firms specialized in VAT
Why do you need us?
- Firstly, get the best and most remarkable knowledge of laws and regulations.
- Secondly, VAT implementation in UAE makes sure every VAT submitted is accurate.
- Thirdly, VAT consultants reduce the time required for evaluation
- Further, we minimize risk by finding the best alternatives to reduce the dangers related to VAT.