What are the steps required to become VAT ready ?


  • Overview

 


There are several steps that businesses may consider for VAT readiness and these include:

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  • - Mapping of the current business transactions with possible VAT implications to assess the impacts of the new law
  • - Take impact mitigation measures by restructuring transaction flows and / or supply chain. Ensure full compliance with UAE VAT law.
  • - Assess IT readiness requirements and take necessary steps to bring in functional modifications;
  • - Assess and implement registration, return filing and compliance requirements;
  • - Assess steps to be taken to ensure smooth transition including stakeholder communication and documentation requirements;
  • - Prepare and file timely VAT returns
  • - Ensure bookkeeping and documentation is done according to VAT laws
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  • Through our Tax Reclaim Accounting and Bookkeeping Services, executed by specialists proficient in VAT, Audit, Accounting, and Financial Management, we are able to serve our clients with the best practices in the Accounting domain. We invite you to get to know us through our people, our clients, and our vision. We work closely with a network of professionals where we exchange our ideas to improve our knowledge, be informative about the business and to keep abreast with developments in VAT, audit, and accounting to serve our clients better.

 

 

  • For further information, write to us at contact@akwconsultancy.com or contact us at +971 56 349 1978


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