VAT refund policy in Dubai,UAE

haris ahmed — Thu, 09 Sep 2021 05:07:15 +0000

The service of a VAT refund in Dubai is available for visitors and tourists. They can claim for refund that they paid on purchasing the items and services during their stay in the UAE.
The UAE Federal Tax Authority declared on 18/11/2018 VAT refund service for eligible tourists to recover the value-added tax on their purchases while leaving through Abu Dhabi International Airport.

What are the requirements for tourists to claim their VAT Refund in Dubai, UAE?

To claim a VAT Refund, tourists or visitors must meet the following requirements as determined by the Federal Tax Authority:

A tourist must purchase items from a retailer who is connected to the ‘Tax Refund for Tourists Scheme’.
Items should not be excluded from the Refund Scheme of the Federal Tax Authority (FTA).
A tourist must have to leave the UAE in 90 days from the date of supply, along with the purchased supplies.
He needs to deliver the goods out of the country within 90 days from the date of supply.
The purchasing and exporting of items or goods should be carried out as per the rules and procedures fixed by Federal Tax Authority.

Filing Incorrect VAT Return

Incorrect filing of VAT return by the tax registered person is liable for a penalty in the UAE. Two types of penalties are applicable in this case.A fixed penalty of AED 3000 for the first time and AED 5000 for the second time. A Percentage based penalty will be charged on the amount unpaid to the FTA due to the error

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What is the importance of Accounts Supervision ?

haris ahmed — Thu, 09 Sep 2021 04:24:51 +0000

If you suspect any sort of fraud or error in your bookkeeping or financial reporting, hiring our experienced team could benefit you in lots of ways. There are several means of committing and hiding a strategically planned fraud in an organization. Taking precautions is the best you can do to avoid huge losses or even bankruptcy in the future. One could never know, one of your most trusted members could be tampering your books for personal gains.

Best areas of our accounting supervisors are:

Best Team Players
Management Skills
Professionally Qualified
Good Communication Skills
Great Accuracy
Analytical Skills
Good Sense of Control
Quick and Efficient
Work Under Pressure
High standard of Honesty

Advantages of Accounting Services

The business establishments are required to file tax returns to various government authorities. Accounting helps in pursuing the whole process, thereby promising compliance with legal formalities.
Comparing profit and loss ocurred
Systematic accounting helps the business establishment compare the net profit and net loss ocurred during a particular period of time. These comparisons help the business gain performance-related insights. The business attains a precise understanding of the areas that require more focus and dedication.

Accounting Software solutions

In a business environment that demands systematic accounting systems for maximum efficiency and enhanced productivity, you need an accounting company that offers topnotch accounting software solutions. When a company runs with a reliable accounting system, a great business management with all the financial information necessary to make informed decisions is usually the result.

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