VAT Accounting required basic understanding of VAT Laws and Rules to setup accounting properly. We offer VAT accounting services tailored to meet the needs of your organization, both in terms of relevant content. We will train a staff by participate only relevant to them and are quickly able to grasp the concepts as they will be based upon actual transactions and scenarios your organization is involved in.

VAT accounting services is based on your requirements

• How to Account for VAT
• VAT Report Preparation
• How to Set Up accounting System and Maintain Accounting Records to face Authorities in case of assessment. VAT in UAE – YUGA Accounting

We are able to offer valuable and commercial advice on the most effective way of structuring your business and transactions from a VAT. Planning for the new project should ensure any VAT pitfalls are identified and avoided and best placed to mitigate the cost of VAT to the transactions.

If the arrangements are already in place we can carry out post implementation reviews, involving the review of contractual arrangements and other project documentation along with the commercial reality to ensure that the arrangement does not create any exposures.

Our VAT training experts can guide you through any issues or queries which leads to serious problem they are facing during the VAT Return Filing procedure. VAT Accounting is important for businesses to avoid violations and penalties.

Essential Documents for VAT Accounting:

To process VAT accounting in the UAE, a business must submit the following documents.

• All Tax Invoices and alternative documents related to Goods or Services received and issued
• All Tax Credit Notes and alternative documents issued.
• Accounts of Goods and Services purchased and for which the Input Tax was not subtracted.
• Accounts of adjustments or corrections made to accounts or Tax Invoices.
• Accounts of all supplies and Imports of Goods and Services.
• All Tax Credit Notes and alternative documents received.
• Tax due after the error correction or adjustment.
• Accounts of exported Goods and Services.
• Annual Account details
• VAT Ledgers, Purchase daybooks
• General Ledgers
• Credit and Debit notes, etc

A penalty of AED 10,000 will be imposed on any individual or business that fails to maintain proper transaction records.