CXO Prime is an emerging accounting firm in Dubai & Qatar that provides efficient VAT consultancy services as well. We are a team of excellent and certified public accountants and VAT consultants. You need a professional tax consultant in Dubai to help you with the intricacies of filing tax returns. Since the Value Added Tax was only recently introduced in the UAE, even successful business owners don't understand its complexities. A professional VAT consultancy firm can help you grasp whether your company qualifies for VAT registration and the tax rates that will apply. Tax consultants understand the local tax laws and can assist you in ensuring VAT compliance.
The UAE government transformed the taxation laws in the country to increase revenue. VAT is a part of this transformation, and all businesses must comply with these new laws. Company CEOs and CFOs are not always well-equipped to handle the process. A seasoned tax consultant from our team can provide comprehensive VAT services, and you don't have to worry about anything. We will handle all the paperwork and deal with the tax authorities. Currently, we are located and offering accounting services in Doha and Dubai. Qatar is all set to impose the Value Added Tax following other GCC countries. If you are running your business in any of these two countries, we provide VAT services in Doha and Dubai. Investors who are looking to start a new business can also contact us for business setup in Dubai & Doha.
Efficient record-keeping is the key to ensuring you get the numbers and VAT calculations right. We are one of the most promising public accounting firms in the UAE. A professional tax consultant from our firm will help with invoice preparation and the deduction of VAT accurately.
We offer a thorough business advisory service to companies in Dubai. We will assist you in determining how VAT may impact your company and what measures should be taken to compensate.
We can conduct internal tax auditing at your company to ensure everything is done correctly. This helps to avoid any tax issues and penalties later.
You start the process of officially filing a VAT by first registering your company with the local authorities. Hire our VAT services Dubai & Doha to acquire your VAT registration number.
Filing the VAT involves paperwork like preparing the tax forms. Our VAT consultants have ample experience filling out the forms and submitting them to authorities on time.
The turnover limit is 375,000 dirhams. This implies that you must register for VAT if the revenue generated surpasses this number - or if you anticipate it to do so within the next month. However, companies with half the income mentioned before can choose to register to claim recovery.
Whether you are closing your company, or your sales have dropped below the threshold for VAT, you can cancel the registration. It is mandatory in case of a business shutdown; otherwise, you will be severely penalized.
A VAT TIN is not assigned to a company immediately after its establishment. Each company subject to the VAT conditions must apply to the portal of the FTS for registration. A request is usually approved within a couple of weeks. A unique TIN will be generated and assigned to your business upon approval.