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Company Liquidation Service by BMS Auditing !

BMS Auditing provides comprehensive company liquidation services in the UAE, including liquidation audits, asset management, and ensuring fair distribution to creditors and stakeholders, ensuring compliance and smooth business closure.

Liquidation is the process of winding up a company's activities systematically and managing its assets. The liquidator supervises the conversion of assets into cash during this process, taking care to address all matters. After doing so, the liquidator will apply to relevant bodies, such as Companies House, to formally dissolve the business, bringing its legal existence to an end.

The goal of liquidation is to meet financial responsibilities, increase the value of the available assets, and give notice to those with a business interest. Sale proceeds meet outstanding liabilities, but when there are surplus funds they are returned to the creditors and shareholders as allocated a priority.

When everything else has been liquidated legally speaking, the company stops existing.

Reasons to Liquidate

The most common causes for the liquidation of a company include poor funding or cash flows. A business that lacks sufficient revenue for payment of expenses or servicing loans will be left with no option but to close down. Liquidation is necessary in this case because it leads to a means of dealing with debts and protecting the interests of creditors and stakeholders.

What is a Liquidation Audit?

A liquidation audit, therefore, is a process of reviewing every financial transaction that occurs with a firm during its liquidation. It would verify the legality and validity of these transactions, most especially costs incurred in assets liquidation, revenues accruing from the sale of assets, and fair treatment of proceeds. The benefits of an audit are transparency, accountability, and compliance with legal requirements wherein assets are used to their fullest extent to pay obligations, and cash distribution is balanced between all parties involved.

Purpose of a Liquidation Audit

Audits in liquidation are pertinent for proper closure and hence might be required for seeking a certificate of closure for a Company. These are to reflect in a company's assets as well as liabilities so the creditors will have no pretext to raise objections on behalf of liquidation. Liquation audit is the auditing of assets for the cause of liquidation of all those assets to generate liquidity to pay off the Liabilities. In this matter, there is a requisite of maintaining proper and exhaustive documentary evidence for the liquidator. An audit after having been done post-liquation ensures proper distribution with proper allocation of assets besides their appraisals which can help to eliminate creditors' apprehensions over decision taken by the liquidator by providing equitable distribution of money.

Auditor's Role in Liquidation

Equity shareholders have a very marginal return in a liquidation situation. This will be after providing due share to other stakeholders and the creditors, ensuring a fair distribution mechanism. In the case of insolvent firms, auditors can advise the right distribution of resources. The auditors check if all distributions were done legally to ensure the best returns for all concerned parties. The audit report given by the auditor is detailed as it gives complete financial information to the liquidator. All the assets are liquidated and then distributed among the creditors or other obligations in the various stages of the process.

Your Liquidation Audit Partner

At BMS Auditing, we prepare detailed liquidation audit reports that are submitted to the relevant authorities for company registration. Being a well-known firm, we have a network of associates in the UAE. Our skilled liquidators and sought-after corporate liquidation services make us a leading accounting and auditing firm committed to supporting your business through the liquidation process.

We are here to speak with you today about all sorts of UAE-wide and international liquidation audits.

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Feasibility Study Services in UAE / BMS Auditing

Get expert feasibility study services from BMS Auditing in the UAE. We provide financial, market, technical, and legal insights to assess your business project's viability and ensure success with data-driven strategies.

With BMS Auditing, ensuring feasibility study services in the UAE, businesses can make well-informed decisions about the prospect of new projects or ventures undertaken. Our detailed feasibility studies identify potential markets, HR structures, financial viability, and other features critical to your business. With our detailed analysis of competitive dynamics, economic conditions, legal frameworks, and technical risks, we help you make well-informed decisions and devise strategic plans that pave the way for sustainable business success.

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Expert Management Consultancy for Growth / BMSAuditing

BMS Auditing provides professional management consultancy in the UAE, specializing in business restructuring, field-based services, feasibility studies, and process improvement to drive growth and operational efficiency.Good business processes indeed form the backbone for effective and optimal exploitation of market potential. From building robust systems and processes to reduce dependency on individuals to accelerating growth, at BMS Auditing, we help businesses operate more effectively. Indeed, as a management consultancy in the UAE, we assist entrepreneurs to clarify or reify their vision and strategic goals. We then provide guidance to structure the roadmap for success by looking both at current operations and aspired goals. Our Management Consultancy Services Business Restructuring  BMS Auditing delivers a comprehensive bundle of business restructuring services. This encompasses an independent review of your current situation, discovering various options, and providing financial guidance, followed by developing contingency plans. We focus on making organizational structures less complex while designing successful exit strategies to improve your business operations. Field-Based ServicesOur field-based services provide insights tailor-made for your business. We examine the processes of your inventory management to identify weak points and conduct market audits by physically visiting locations to gather the right information. This practical approach ensures our recommendations are tied to the needs of your business. Feasibility StudiesThrough our feasibility study consulting services in the UAE, BMS Auditing conducts rigorous market research toward an assessment of your business model and market viability. We work with leading companies to draw on the most reliable data and provide comprehensive reports and financial models to analyze the project's potential. We also develop project teasers that help attract potential investors.

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Tax Compliance Services in BMS Auditing

Stay compliant with the latest UAE tax regulations with expert tax advisory and compliance services from BMS Auditing. Navigate corporate tax, VAT, excise tax, and more with tailored solutions for your business.

It is never easy navigating the plethora of tax regulations in the UAE: a start-up or even an international group managing its affairs. If you want your business to be safe and sustainable, then getting in line with changing tax rules is crucial. With BMS Auditing, come and experience our tax advisory and compliance services to stay ahead and comply with all tax obligations.

Why You Need Professional Tax Advice

In such a quick-paced tax environment as the UAE, business environments must know about the present laws and legislation. Businesses need to pay the correct amount of tax to remain compliant with corporate tax, VAT, excise tax, and other kinds of taxes. In the past few years, the UAE government introduced several changes, like the new corporate tax introduced along with VAT and excise tax in 2023. These are both time-consuming and complicated in terms of dealing with the core business running activities.

BMS Auditing is staffed by expert professionals, well-equipped with the necessary tax know-how on UAE tax law. Our consultants specialize in helping businesses navigate current and new regulatory situations, optimize tax strategies, and minimize non-compliance risks.

UAE Tax Updates

Recently, the UAE has witnessed various tax reform measures. In 2023, the UAE brought in Corporate Tax for companies, which was previously applicable to oil companies and foreign banks as CT. Under the recently enacted Corporate Tax Law, income above AED 375,000 or approximately USD 102,000 is subject to a levy of 9 percent. Another new feature of this is compliance with transfer pricing provisions for transactions executed between parties associated with each other. This also remains another clause according to the OECD guidelines.

Introduced in addition to corporation tax was VAT, at the standard rate of 5% applicable to the UAE from 2018, levied upon taxable goods and services. This has added more to the weight of business burdens that are now also expected to meet the new VAT reporting and filing obligations. 

These include Excise Tax, which is paid for goods considered to give rise to adverse effects on health or environment, and Economic Substance Regulations (ESR), which require a business in the UAE to have significant economic activities by reporting profits that are according to the real course of business.

At BMS Auditing, we keep you updated with all these changes through continuous updates and tailor-made tax services according to the latest laws and requirements.

Tax Advisory and Compliance Services

We provide you with comprehensive and integrated advisory solutions for tax and compliance, keeping pace with your business. We will illustrate complicated tax legislation to you as a local SME or a global corporation, enabling informed decisions on your part.

Tax Advisory Services

Get strategic insights to optimize your tax position and be compliant with the latest regulations from our tax advisory team. Our services include:

VAT & Excise Tax Advisory: Get an understanding of the implications of VAT and excise tax on your business and how one can keep himself/herself updated.

Corporate Tax Advisory: Navigate through the new corporate tax framework, the rates, exemptions, and compliance requirements.

Transfer Pricing Analysis: We assure you that your transactions with related entities are in line with international standards.

Risk Assessments: We assess your current tax position and highlight potential risks.

Training & Workshops: Proper knowledge of UAE's tax laws for your team through customized training sessions.

Tax Compliance Services

Our compliance services ensure that your business meets all tax obligations without the hassle of managing deadlines and filings. We help with:

It helps prepare and file VAT and excise tax returns for accurate reporting.

Assist in the preparation and submission of corporate tax returns.

Assists in preparing master files, local files, and country-by-country report documentation concerning local and international transfer pricing. These include :

We ensure that the business complies with the requirements of the economic substance by preparing all the report filing and the required reports.

Registration, amendment, de-registration, and tax clearance certificate handling.

Why Choose BMS Auditing for Your Tax Needs?

BMS Auditing combines UAE tax law with international experience in which the solutions are tailored to the needs of any kind of business. Here's why you should team up with us:

Expert Team: Our team of expert tax professionals is familiar with both local and international tax laws.

Latest Tax Developments Awareness: We keep you informed about the latest tax developments, thus keeping you within compliance in terms of current regulations.

Advisory to compliance, we have a comprehensive suite of tax services.

Global reach: We work with the best tax practitioners from all parts of the world as part of the global network to deliver you the best possible tax compliance solutions.

Client-centric approach: We understand that every business is different, and our service delivery is tuned to your needs.

Let Our Tax Compliance Experts Work for You

Tax regulation is probably one of the most complex and volatile. However, at BMS Auditing, you are well taken care of. A professional team will guide you through the tax landscape so you remain entirely compliant, reduce risks, and maximize tax efficiency.

Contact us today to see how our tax advisory and compliance services can benefit your business.

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Offshore company formation in UAE is the process of creating a legal entity in a jurisdiction outside of the UAE but registered with the UAE authorities to conduct business activities outside of the UAE. The process includes selecting a registered Business setup agent, submitting the necessary documents, and obtaining the required licenses and permits.

Generally, most business setup conditions would be fulfilled in all aspects. However, some requirements vary, for instance, privacy, security, profitability, etc. Such conditions are satisfied by appropriate Offshore administration for business setup.

Offshore licenses enable the investors to set up their businesses without a physical location and the operations are also controlled remotely! The offshore companies are registered in a way differently than the Mainland and Free Zone companies, and the investors are issued only the certificate of incorporation and not the traditional business license. 

BMS Corporate is here to assist you in building your business empire in the Offshore setup. We also provide the most effective services in business setup in UAE Mainland and UAE Free Zone company setup. 

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Start a Business in UAE Free Zones / BMS Auditing

Free Zone companies are licensed and controlled by the Free Zone Authorities. Free Zones are ideal for startups. To start a business there, the Business setup in the UAE Free Zone is comparatively a different process than to of a Mainland. 

The controlling body of the Free zones is not the same authority as that of the UAE Mainland Business or offshore Business, as Free zones are governed by each Emirate’s free zone authority. The main benefit of setting up a business in a Free zone is that the companies enjoy 0% tax on customs duties and complete tax exemption on imports and exports, thus making Free Zone more preferred destination for investors. 

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UAE Business Setup Services / BMS Auditing

Set up your business in the UAE with BMS Auditing’s expert services. From company formation to licensing, we streamline the process, ensuring 100% foreign ownership, tax exemptions, and smooth registration.

The United Arab Emirates has become the first preference destination among entrepreneurs who have ambitions to open their business concerns in a vibrant, and commercial-friendly climate. The BMS Auditing supports entrepreneurs seeking assistance on issues related to the incorporation of the UAE company across the jurisdiction. We have a skilled consultancy process for various businesses' incorporation and license procurement into different business operations. Consultants make the whole process simple and streamlined through detailed knowledge of the procedure and documentation for businesses to register companies within the highly competitive business landscape of the UAE.

Key Features of Setting Up a Business in the UAE

Strategic Location: Located at the crossroads of East and West, affording access to global markets.

Developed Infrastructure:  World-class infrastructure support for business growth.

Diverse Free Zones: Multiple free zones for various sectors.

Stable Business-Friendly Government: A government that promotes investment through favorable policies.

Multicultural Environment: A multi-cultural environment that attracts world talent.

Key Business Setup Benefits in the UAE

100% Foreign Ownership: No requirement for a local sponsor in most cases.

Significant Tax Exemptions: Most businesses benefit from corporate and income tax exemptions.

No Restrictions on Repatriation of Profits: Full flexibility in transferring profits abroad.

Streamlined Company Setup Process: The process is simple for incorporation.

Access to a Large Pool of Talent: An expatriate workforce with the highest levels of skill and expertise.

High Quality of Life: A safe, vibrant, and cosmopolitan lifestyle for you and your team.

How the Process Works

Setting up your business in the UAE is simple with just three steps:

Registration 

Define your business interests and budget, and we'll help you choose the ideal location and jurisdiction for your UAE business setup.

Submission

Our team will make it easier for you to learn and advise on the documentation needed to start your business within the UAE and what all those might cost.

Handover

As the process is complete, we'll hand you a license copy of your new company with all the legal paperwork necessary to begin business immediately.

Foreign Ownership: Most jurisdictions permit foreign entrepreneurs to establish businesses without a local sponsor and retain 100 percent ownership and control.

 Tax Exemptions: In the UAE, corporate and income taxes are usually exempt for several years, thus making it less burdensome to the finances during the preliminary stages of business operations.

Corporate tax structure: A business is exempted from corporate tax if the annual taxable profits are less than AED 375,000. If the taxable profits exceed AED 375,000, a 9% corporate tax is applicable.

BMS Auditing offers a one-stop comprehensive solution for all business incorporation, licensing, and all related services with over 15 years of experience. We ensure that entrepreneurs and organizations will choose the right jurisdiction and company structure for their growth and success in the long term. Our expertise avoids all costly mistakes, saves precious time and resources, and positions your business for a brighter future in the UAE.

Contact Us today!

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UAE Business Consultancy by BMS Auditing

Start your business journey in the UAE with BMS Auditing’s expert consultancy services. From company registration to tax advisory, we provide tailored solutions for a seamless business setup and long-term success.

Setting up and running a business in the UAE is a stimulating journey, but it is complex. The dynamic economy with opportunities for businesses to thrive makes Dubai one of the most attractive destinations for entrepreneurs, startups, and global brands, but navigating the legal, financial, and regulatory landscape of the UAE requires expert guidance. That is where BMS Auditing comes in—offering full-fledged business consultancy services that simplify the process and guarantee your business setup is seamless, efficient, and compliant.

Our Business Consultancy Services Include:

We provide for you the Feasibility Analysis & Business Plan development. BMS Auditing conducts this feasibility analysis on your proposed business with full guidance and supports the development of a precise business plan compatible with both of the objects, as well as in complying with the requirements of UAE.

Company registration & licensing: Regardless of your desire to form a mainland, free zone, or offshore business, we assist you throughout the company registration and licensing stage, which ensures that all legal requirements are fulfilled, and you start trading as soon as possible.

Legal & Regulatory Compliance: The entire legal and regulatory compliance about the ever-changing framework is crucial. Our consultants ensure that one is adhering to all the statutory compliances necessary, paperwork and liaison with the government authorities for relevant permits and licenses.

Tax Residency & Domicile Certificate: We will help you obtain the tax residency certificate or domicile certificate presented for tax purposes and enable you to take advantage of the better tax rates available in the UAE and strengthen your position in the country.

Market Research & Strategic Advice: Among the consultancy services, we do market research that can help understand the competitive landscape, articulate any growth opportunities, and give your business an edge over other businesses.

Business Structure Advisory: Select the best business structure for your own company, which could be a sole proprietorship, partnership, or LLC. All forms of ownership and exposure to liability and operational flexibility concerns are considered herein.

Visa & Immigration Services: From the application of a visa to immigration procedures, our services will ensure that your team and employees can easily transition and work in the UAE by streamlining immigration procedures with expert guidance.

Continuous Support: BMS Auditing offers continuous support that would ensure your business is compliant, efficient, and geared for the future; we help you navigate any challenges that might arise from changes in your business going forward in the UAE.

Why Choose BMS Auditing for Business Consultancy in the UAE?

Dedicated Experience: Our consultants have years of experience in business setup and consultancy services in the UAE, so they are armed with a deep understanding of local regulations, industry trends, and business best practices.

All-in-One Solutions: BMS Auditing provides vast services from company registration to tax advisory for streamlined business setup and management in UAE.

Time & Cost Efficiency: Through our experience, we ensure that setting up a company is done in a timely and accurate manner, hence saving you the costs over time.

Tailored Consultancy: The consultancy services we offer are tailored to the specific needs of your business, thereby making sure that the solutions offered will meet your specific goals and objectives.

Commitment to Client Success: In BMS Auditing, every client is given attention as our main success priority. We get close to you, ensuring your business is set up for long-term success in UAE.

Contact BMS Auditing Today and Start Your Business Journey in the UAE.

Let BMS Auditing be a guiding force through the vast and complex business arena in the UAE. We shall offer actionable advice, insightful strategy, and practical solutions ready to be applied hence making your setting up process seamless and successful.

Reach us to schedule a consultation and start setting up your business in the UAE now.

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Audit service in UAE / BMSAuditing

Audit services are essential for financial information to be more reliable and accurate. BMS Auditing works carefully to offer these services in KSA, Qatar, Bahrain, Oman, UK, and USA. We would like to provide our clients with helpful information that will enable them to manage their enterprises more successfully.

BMS Auditing offers services to a variety of businesses in the United Arab Emirates by combining our extensive local expertise with our global perspective and network. Our audit services are built on a core set of values that include professionalism, ethics, quality, and diligence.

Our auditors across GCC inspire trust in data and financial information and our core focus on innovation delivers efficiency and value to our clients.

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VAT Deregistration Services in the UAE , BMS Auditing

With the introduction of Value Added Tax (VAT) in UAE, the paradigm has changed from being tax-free and welcomed new opportunities and challenges. VAT deregistration is equally important as VAT registration and businesses should understand the procedure to apply for VAT de-registration in the UAE.

What is VAT Deregistration?

VAT deregistration is the removal process for registered businesses to delete their VAT registration. It usually follows when a taxable entity stops its business activities or can no longer meet the conditions required for VAT registration. VAT deregistration requests by taxable businesses should be submitted, and FTA would only delete the registration after the submission of all the needed paperwork following approval.

Importance of VAT Deregistration

Businesses need to understand when to apply for VAT deregistration. A business needs to file its application early enough to avoid penalties since one would attract heavy fines if it fails to deregister on time.

Taxable entities should be updated on the procedures that ought to be followed to deregister to avoid potential complications in the future.

Conditions for VAT Deregistration in the UAE

Firms that are no longer providing taxable supplies may apply to deregister from FTA for VAT. Further, where the taxable supplies of a business have reduced below the statutory limit of AED 375,000 but are above the voluntary limit of AED 187,500, it must deregister voluntarily. However, if taxable supplies fall below the said voluntary limit, then the firm has to deregister.

There are two types of VAT deregistration in line with the rules of FTA:

1. Voluntary VAT Deregistration

This is available to businesses if they cease making taxable supplies.

Total taxable supplies made in the previous year and the next thirty days are less than the threshold for optional VAT registration.

2. Mandatory VAT Deregistration

It is a situation where the FTA cancels the VAT registrations of qualifying businesses.

Businesses that have been registered voluntarily under VAT for at least twelve calendar months are also eligible to deregister.

Deadlines and Fines

VAT deregistration should be filed within 20 days. Failing to file for VAT deregistration by a business or individual may attract fines.

How BMS Auditing Can Help You

VAT deregistration might take a lot of time, and many procedures will be involved. Partner with an acclaimed VAT consulting firm like BMS Auditing to help advocate your deregistration and get the best out of it. Our tax consultants who are licensed will help you through the requirements of the VAT deregistration procedure, and they will ensure that you have all the details and assistance required in completing this task efficiently.

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VAT Accounting services in UAE , BMS Auditing

VAT or Value Added Tax, is the indirect tax levied on different goods and services available in the UAE. Due to the complexity of the VAT calculation, these services should be outsourced to a qualified consultant who will ensure complete correct tax calculation according to the law. BMS Auditing is the best consultancy firm dealing in VAT accounting on a personalized scale for any kind of business for it to lead through the very intricate world of VAT.

What is VAT Accounting?

VAT accounting involves massive record-keeping and documentation. The tax law of the UAE mandates that every taxable person maintain correct information. The records will enable one to determine the right consumption tax amount payable. Proper documental VAT not only reduces tax liabilities but also avoids penalty claims for tax non-compliance.

Types of VAT

Input VAT: Input VAT is levied on the purchases in respect of which, if you are a registered buyer with FTA, it is recoverable from your tax liability.

Output VAT: Charged on sales of goods and services, this is computed straight off the sale transactions of yours.

VAT Rates in the UAE

Standard Rate: This rate of 5% applies to most types of goods and services.

Zero Rate: It only applies to exports as well as some educational services.

Exempted: VAT is not applied to some financial services and certain dwellings.

VAT Registration

The business will be obliged to register for VAT if it satisfies the conditions provided in the law, especially at a taxable value of AED 375,000 of its supplies and imports. Nonetheless, the figure can be reduced to AED 187,500 to enable voluntary registration. BMS Auditing can help make this complex process easier to comply with.

Important Documents on VAT Accounting

For smooth VAT accounting, the following documents should be kept by businesses.

All supplies and import accounts

Tax invoices and credit notes

Annual accounts and general ledgers

VAT ledgers and purchase daybooks

In case of a failure to maintain proper records, a penalty will be imposed of more than AED 10,000.

Why Proper VAT Accounting is Important

Legal Compliance: It is compulsory for all taxable businesses registered with FTA.

Easy Filing of Tax Returns: Proper filing can make the process easy and simple.

Tie-up in Financial Planning: Proper VAT accounting helps in budgeting for future expansion.

Eases Audit Burden: Maintaining proper records eases the burden on income tax auditors.

Tax Benefits: Precaution through information about VAT schemes helps keep you updated to get the maximum advantage.

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VAT Audit Services in UAE / BMSAuditing

VAT audit is the process through which the Federal Tax Authority of the UAE checks the business's record, returns, and documents thoroughly to assess that the business has been complying with all the tax regulations. The declaration provided by this business - regarding the supplies done, taxes paid, and the VAT refund claimed - is checked by the Federal Tax Authority. It helps in establishing whether the declared supplies, taxes paid, and VAT refunds are accurate. Thus, all tax liability is recovered within the stipulated time. Throughout the audit, the FTA could request specific business information to be verified against the VAT returns and other declarations made.

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In the UAE, Value Added Tax is a consumption tax imposed on most goods and services in most countries. You become eligible for a VAT refund from the Federal Tax Authority when your input VAT is more than your VAT output during a VAT return. BMS Auditing provides assured VAT refund services in UAE, guaranteeing you an inflow of the refunds you deserve.

Expertise

Our VAT consultants at BMS Auditing emphasize reviewing the periodical files of corporate taxpayers across industries. With our knowledge and expertise, we can help you recover your UAE VAT refund efficiently and effectively from the FTA.

What is UAE VAT Refund?

The Taxable Person, when determines that its input tax is more than the output tax on a VAT return, may submit a VAT refund application using the VAT 311 form obtainable on the FTA portal. To be sure, a VAT refund request may be made either while submitting the VAT return or even afterward, after submission of returns.

Important Points regarding VAT Refund Requests

The FTA does not provide any time limit to request to recover a refundable VAT. Tax registrants could recover VAT credit owing at any time since there is no time limit on claiming reimbursement.

Refund Period: The FTA shall consider all claims for refund within 20 business days, inform the Taxable Person of acceptance or rejection and, in the event of acceptance, process the refund within 5 business days.

Documents Required to Claim VAT Refund in UAE

To claim a VAT refund, you need to provide all of the following documents:

Application Form to claim VAT refund in Microsoft Excel format

Five highest tax invoices from standard-rated costs (amount)

Five highest official and commercial documents about zero-rated supplies (amount)

Five highest tax invoices concerning sales and other outputs (amount)

IBAN Validation Letter

What is an IBAN Validation Letter?

IBAN Validation Letter is an issued and stamped letter from the applicant's bank. It should include:

The account owner's name (must be the same as the taxable person's name as recorded with the FTA)

The name and address of the bank

SWIFT/BIC code

The IBAN

A scanned version of this letter will be a necessary file attachment to the refund application.

Reasons for Rejection of VAT Refund Applications

The FTA may refuse to accept a refund application on any or some of the grounds below, among others:

Failure to respond to further requirements within 5 working days.

Incorrect or missing supporting documents

Incongruities within the summary and the VAT returns that were submitted by the applicant

How BMS Auditing Can Help You

BMS Auditing has qualified VAT consultants to take you through the VAT refund application process. We have the experience and expertise to execute it most impeccably to minimize any delay in the submission of your application. Our services encompass:

Full support throughout the process of VAT refund application

Special consultancy relating to requirements on documentation

Help in the preparation and delivery of the necessary forms

Establishment of regular follow-ups to the FTA about your application status

Start  now

Don't leave your VAT refunds to chance. Rely on BMS Auditing to maximize VAT refund potential in the UAE. Contact us today for information on VAT refund services and how we can support your business!

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VAT Return Filing with BMS Auditing in UAE

Calculating VAT returns is not a simple process. It involves computing the total taxable supplies and exports in every given period. For business organizations who don't have skills, the VAT return in the UAE is a pretty challenging task. Furthermore, the FTA has specified structures that are many times complicated for their submission. Therefore, eligible businesses need to seek VAT return filing services in the UAE from companies with experience preparing and filing VAT returns.

How to File VAT Returns in the UAE

Gathering of Relevant Documentations for VAT Return: Collection of all necessary documents to file with the VAT return.

Document Scrutiny: We scrutinize every document filed with minute details.

Verification of Discrepancy: It will highlight all the discrepancies and initiate the appropriate action against them.

Reviewing for Remedial Actions: All types of necessary rectifications would be done to set things right.

VAT Return Filing: VAT return would be filed in time.

Periodic follow-up regulation: The company ensures periodic follow-up to ensure the correct implementation concerning the necessities and brings it right about the problem raised.

Why VAT Return Should be Filed in UAE

A VAT return needs to be filed compulsorily by the registered businessman, which has to be submitted by FTA on or before the due date. It is to be submitted periodically as per your tax period. The effective filing of a VAT return not only builds legitimacy for your business but also ensures that the operations are properly protected legally as well as serves the future interests of your company by preventing any possible revenue leakages.

VAT checks & Planning Validation

Regular audits and adherence to VAT compliance can remarkably help your business. Here are some services we offer:

Complete VAT planning guidelines and suggestions for correction

Preparing all management reports according to the standards applied

Address the areas of concern

 Analysis of the legal strategy that will minimize the total liability of VAT

Reviewing unaccounted activities or documents