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VAT Services for Retail Companies in UAE

In UAE the Retail market is categorized based on By type(Non- Food), By type of market (organized or unorganized), By Distribution Channel(Hypermarkets/Supermarkets, Exclusive Stores, Department Stores, General Merchandise store and Online), By Region (Dubai, Abu Dhabi, Sharjah and rest of UAE), Competition, Forecast & opportunities. Year by year the retail industry has proved to the national economy that this sector is worth the investment. 

With an increased industrial growth rate this sector has opened doors to new business opportunities. With increased business opportunities the regulatory authorities have enforced the importance of proper administration of VAT acts in business transactions. It is important that every key management personnel in the companies to implement apt actions in selecting the right VAT services available in the emirate to ensure VAT activities are applied to their transactions.

Significance of Getting the Right VAT Services for Retail Companies

The retail sales industry has grown tremendously throughout the years. With the increased contribution of more than 5% to GDP, every year had marked the industry’s importance in the global market. The advanced growth of the industry also has a high impact on Value added tax. As the VAT is imposed on goods and services where the retail industry is widely involved in the field of goods supply. Considering the fact that tax is categorized based on the supply relation it is necessary to know the right operational channels to make use of these tax categories to minimize the tax liabilities. Experts acquainted with these services can help the companies to stay updated with recent FTA regulations and acts thus implementing FTA abiding business practices. Precise reporting of the tax categories can ensure tax credit. For utilizing all these provisions it is necessary to find the right VAT service providers.

CDA VAT Services for Retail Companies 

Our up-to-the-minute talented experts guide the entrepreneurs in handling every VAT-related activities thus helping them in focusing on other operational matters. Our in-depth understanding of VAT laws applicable for every industrial sector helps in achieving the best tax reports. We make use of the latest technology to provide the finest solutions and resources for the faultless operations of VAT-related activities. We perform with a vibrant approach, supporting our clients to plan and execute the VAT procedures in a systematic and organized manner to achieve compliance with the applicable VAT rules and regulations.

Features of CDA VAT services for retail companies in UAE

  • Our experts proficient in UAE and international tax rules and regulations will present the Tax reports and suggestions that comply with every FTA act. 
  • Our talented tax managers will convey the best tax practices for businesses and guidance for every tax difficulty 
  • Our tax experts will present accredited financial reports for a faultless registration of tax certificates and guide on necessary industry-specific tax acts. 
  • Our experts will provide explanatory VAT services in constructing effective tax strategies for productive businesses that comply with every legal obligation of the regulatory authorities. 
  • Our experienced tax experts will provide tax reports that demonstrate detailed information on the impact of tax on business activities and transactions.
  • Our tax experts ensure precise VAT reports after thorough analysis and validation by accredited tax auditors to ensure penalty-free Tax returns. 


Industry Retail VAT (FAQ)

- Exports of goods and services to outside the GCC - International transportation, and related supplies - Supplies of certain sea, air, and land means of transportation (such as aircraft and ships - Certain investment grade precious metals (e.g. gold, silver, of 99% purity) - Newly constructed residential properties, that are supplied for the first time within three years of their construction - Supply of certain education services, and supply of relevant goods and services - Supply of certain healthcare services, and supply of relevant goods and services

- The supply of some financial services - Residential properties - Bare land - Local passenger transport

Value-added Tax or VAT is an indirect tax. It is sometimes referred to as consumption tax. VAT is imposed on most supplies of goods and services that are bought and sold.

It is a certificate issued to avoid double taxation agreements concluded by the State or Federal Authority.

VAT-registered businesses generally: - Must charge VAT on taxable goods or services they supply; - May reclaim any VAT they have paid on business-related goods or services; - Keep a range of VAT related business records (e.g. Tax invoices); - Report their taxable supplies and purchases in periodic VAT returns.

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