Managing VAT obligation is a complicated and overwhelming process for most of the businesses in UAE. Moreover, most of them underestimate the time and resources needed for VAT compliance. But not managing VAT properly will have an impact on businesses in the long run. Which is why businesses will need help and support in VAT compliance from the professionals.
As a leading accounting firm in Dubai, we offer a wide range of accounting and financial reporting services for all kinds of businesses. We believe in bringing
value to our customers and making their business finance easy. We ensure our financial reports and statements always comply with International Financial
Reporting Standards.
The Talented team of experienced and skilled financial specialists at New Al Hikma will create custom financial reports that are tailored to suit your
specifications and we’ll also help you with all the other accounting and finance services.
Value Added Tax (VAT) is an indirect tax that is paid by consumers when they buy most goods and services. VAT was introduced in the Gulf Cooperation
Council (GCC) as a way to diversify member nations’ economies and uncover new revenue streams.
Businesses in Saudi Arabia, Kuwait, the United Arab Emirates (UAE), Qatar, Bahrain, and Oman with an annual turnover of AED 375,000 must comply with the
new VAT laws. This involves collecting a standard tax rate of five percent (5%) at each stage of the supply chain, on behalf of the government.
It is critical that when seeking professional help, you choose a skilled, experienced and reliable VAT expert who can guide you on all VAT
related matters.
New Al Hikma provides complete VAT related support for businesses of all sizes, across all industries.
We offer transparent, flexible, and customisable VAT services suitable for all types of businesses. This, combined with our experienced and skilled
team of VAT specialists helps our clients to get their systems VAT ready.