Powers Tax Consultancy & Accounting

Powers Tax Consultancy and Accounting 1.1 Annual Value Added Tax (VAT) related to tax liability Consultation Services Our Work Domain covers Annual Value Added Tax (VAT) related to tax liability Consultation Services for the purpose to assist the tax return reports prepared by your company to be submitted to the FTA (Federal Tax Authority) based on Value Added Tax (VAT) regulation issued in UAE. VAT consultations will include the following procedures: 1. Clarify all your inquiries correlated to the Value Added Tax (VAT) when requested. 2. Revising all contracts related to your service’s suppliers that will be agreed upon with any legal or natural person, whether resident or non-resident in the UAE. 3. Give the tax opinion if it is subjected to Value Added Tax (VAT), by providing us with the contracts firsthand noting that we are not responsible for any service contracts that have not been submitted to us. 4. Revising all amounts for internal and external services which are subjected to VAT, before signing the contract neither payment of the service. 5. Revising company trial balance based on VAT terms and regulations if requested. 6. Revising all VAT calculations assigned to purchases, revenues and expenses by the company. 7. Revising Company charts of accounts, accounting policies and providing recommendations if needed. 8. Revising the company’s authentication processes, accounting records to fulfill Value Added Tax requirement. 9. Assist and guide the company for upcoming tax inspection. 10. Revising and reviewing tax return report which is prepared by the company before submitting it to Federal Tax Authority (FTA). 11. Assisting in tax return report submission to Federal Tax Authority (FTA) on the exact time. 12. Reporting the initial tax return report after revision and provide recommendation if requested. 13. Attend the VAT audit meetings and represent the company in negotiation. 14. Preparing objection report to be submitted to the tax authority according Value Added Tax terms and regulation and set an appointment with the tax authority for the objection discussion. 15. Reporting the company senior management with any information, terms and regulation issued by Tax authority. 1.2 Consultation services regarding the Implementation of Value Added Tax (VAT) : 1. Provide taxation consultation services regarding the implementation of Value Added Tax (VAT) based on any case or request from your company. 2. Provide support services regarding the implementation of the Value Added Tax (VAT) for your company and implement any modifications needed for your accounting system in order to be aligned with the implementation and requirements of the Value Added Tax (VAT). 3. Respond to any queries regarding the eligibility of a product or a service to Value Added Tax (VAT) and advise on whether the product or the service falls under the VAT application or not and study the financial consequences if any. 4. Assist in company’s registration in the Tax Federal Authority system and in obtaining the Tax Number Certificate and assist in obtaining the Clearance Liability Certificate related to Value Added Tax (VAT).