VAT Advisory in Dubai within the scope of business activity
The Value Added Tax is generally based consumption tax assessed on the value added that is to goods as well as services. It normally applies on all the goods and services that are purchase or sold for consumption. Besides, goods and services that are exported such as sold to customers abroad are not subject to VAT.
VAT is an integral part of the GDP of any country. The beauty of the VAT to revenue collector is that it’s so sinister, sneaky and permanent. It is the perfect system of legalized and governmental thievery. VAT Advisory in Dubai provides the best quality services to the clients at cost-effective prices. Whether you are starting a business or operating a going concern, company advices you regarding governance & compliance.
Value added tax is:
- It is a general tax that applies on all commercial activities including the production and distribution of goods as well as services. Moreover, if the annual turnover of the business or individual is less than a certain limit as per the Member State, than they don’t not have to charge VAT on their sales.
- It is an expenditure tax because it is bear ultimately only by the consumer. Besides, it is not charged on businesses.
- VAT is charged on the percentage of prices. The real tax burden is noticeable in every stage including in the production as well as distribution chain.
- It is collected partially with the usage of a system of limited payments whereby taxable persons subtract from the VAT they have received the amount of tax and then they have paid to other taxable persons on purchases for their business activities.
- It is paid to the income tax department by the distributor of the goods but it is actually given by the buyer to the seller therefore it is an indirect tax.
Features of Value Added Tax in India:
- In this goods and services are taxed equally. Therefore similar products from all brands will be taxed the same
- It is applied at each stage of production as well as distribution. Hence, it makes the taxation process easier as well as crystal clear.
- VAT reduces the chances of tax avoidance and fosters compliance
- It encourages transparency in sale and purchases of goods and services at the tiniest level
VAT is one of the kinds of tax levied on sale and purchase of goods as well as services. VAT Consulting in Abu Dhabi believes in providing advice that gives practical solutions to the clients’ problems. VAT issues are their core competency as well as each of the consultants is an international expert.
Its capabilities seamlessly complements to the other service offerings which as a total solution provide over all benefits to our clients. The closeness to the heart of the customer’s business through the offered services, facilitate consultants to offer them more practical and focused assistance. Apart from this, it provides a comprehensive assistance for compliance with different state laws and regulations.
Author’s Bio: I am a professional writer in this field. With this article, I want to tell the benefits of VAT Advisory in Dubai to the clients.