TAX SERVICES — CORPORATE TAX (CT) AND VALUE ADDED TAX (VAT)
Re/think provides Corporate Tax, VAT and Environmental & Social Responsibility (ESR) advisory, optimization, implementation, registration, compliance, and training services across the UAE. Our team of senior qualified tax advisors, finance experts, and tax accountants are here to guide you through the CT and VAT laws and regulations, ensuring timely and cost-effective tax services for SMEs and larger organisations. Our teams also perform the periodic tax compliance (“filings”) required under the law and ongoing advisory as your business grows and rules regarding tax framework become more complex.
Re/think tax services are aimed to suit both simple submissions for SMEs to complex submissions for larger enterprises.
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Based on our in-depth understanding of the impact CT and VAT has on businesses, we identify where and how CT and VAT will have an impact on your business.
Our Tax advisory specialists will assist you in reviewing your current business lines and flag the potential impact of the CT and VAT legislation. In addition, we will advise on ways to optimize your tax position.
Please make an enquiry to find out more and speak to a senior member of our team.
02
CT AND VAT REGISTRATION
AND DE-REGISTRATION
Understanding your CT and VAT registration requirements and liaising with the FTA authorities can become complex and time-consuming, depending on your structure, location of bank account, and operations.
Re/think has the expertise to help you navigate the registration and de-registration process and ensure regulations are followed and risk minimised.
Please make an enquiry to find out more and speak to a senior member of our team.
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Our tax team will work with your internal finance personnel to complete and file your CT and VAT returns and assist you in solving any disagreements that may arise with the government on the application of the regulations.
Please make an enquiry to find out more and speak to a senior member of our team.
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Our finance and tax team can help you adapt or implement the necessary accounting systems, including all corporate and business documentation that is recommended during the CT and VAT advisory stage.
For SME’s to comply with CT and VAT accounting rules, we assist with assessing adequacy of accounting practices, Chart of Accounts alteration to ensure the necessary granularity of accounting information is available to prepare tax filings, identifying allowable and non-allowable expenses, exempt items, documenting policies, procedures and controls etc.
Please make an enquiry to find out more and speak to a senior member of our team.
05
Our finance and tax team can undertake CT and VAT Health Checks for your business where we will review the tax positions, compliance, reporting procedures and recommend the best approach to be adopted with the CT and VAT laws.
Following the introduction of VAT in the UAE, in our experience, most businesses have faced issues in adopting correct tax positions. Given the nuances and intricacies of the law, managing business affairs from a compliance and reporting perspective can be challenging.
Compliance requirements are strict and accompanied with penalties reaching 500% for possible frauds and non-compliance.
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Re/think offers support during all stages of a CT and VAT Audit conducted by the Tax authorities. We assist our clients in preparing the relevant documentation for submission to the authorities during an audit. This is undertaken by performing analysis of the nature of business as well as the supporting documents. Our team of tax experts, being familiar with the actual circumstances, represent the client by providing both substantial and procedural support.
Our core activities include:
• Representing the client before the tax authorities
• Defending of the client’s interests
• Mitigating the risk of penalties (if any) faced by the client
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PREPARATION OF DEFENSE FILE /VAT AUDIT SUPPORT FILE
Considering more effective controls in the VAT area, Re/think recommends preparation of supplementary documentation i.e., Defence file/ VAT Audit support file. This provides additional protection to the VAT registered businesses during a potential audit by the tax authorities. The assistance offered by Re/think involves performing analysis of the nature of business as well as the supporting documents and provide the client a readiness for a VAT Audit by the Tax authorities.
Please make an enquiry to find out more and speak to a senior member of our team.
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We assist in identifying the roles of stakeholders in your business and teach them how to incorporate CT and VAT considerations with their everyday activities.
This will ensure CT and VAT awareness not only inside the accounting team of the SME, but also for every employee who may trigger CT and VAT implications during the execution of his/ her responsibilities.
Please make an enquiry to find out more and speak to a senior member of our team.
