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Preventing VAT Errors With The Help OF MBG’s FTA-Certified/FTA-Approved TAX Agents

June 29, 2020

Your Global Business Experts

Overview

Operating VAT in a tightly-controlled environment, and ensuring that employees are appropriately trained and aware of the changes in practice and legislation, play a vital role in reducing the risk of errors in the VAT Compliance process.

The complexities involved in the operation of VAT can lead to errors at some point, and can have significant consequences. In such situations, taking timely action is key. This entails having to engage with Revenue, to ensure full disclosure and cooperation when it comes to regularising matters, with a view to mitigate sanctions (which, depending on the circumstances, may include having to pay interest, penalties, and/or publication).

Bearing all of the above in mind, it is therefore highly recommended that businesses outsource their VAT Compliance function to FTA-Approved, Registered Tax Agents to ensure the accurate operation of VAT, and that all compliance obligations are fulfilled. MBG’s highly specialised team of Tax Agents represents a wealth of experience in VAT Compliance Reviews, VAT Health Checks, as well as the VAT Smart Review, where potential risks are identified and assistance is provided to mitigate these risks, by listing the areas of improvement for the processes involved in recovering additional VAT.

Tax Agency Services

    1. VAT Registration

    2. VAT Health Checks

    3. VAT Compliance Reviews

    4. Assistance with VAT Refunds

    5. Reconsideration for VAT Penalty Waivers

    6. Assistance during FTA Audits

    7. Voluntary Disclosures

    8. VAT Trainings

    9. Submitting Exception Forms

    10. Transaction Advisory Services on VAT

    11. VAT Deregistration

    12. Submitting Clarification Forms

How MBG's Certified Tax Agents can help with VAT Compliance:

  • Always act on behalf of and legally represent the company before the FTA
  • Assist with all communications with the FTA, and provide documents in Arabic during a VAT Audit
  • Provide the help needed to avoid unpredictable fines, by rendering the right advice as per regulations and the law
  • Provide a smooth follow-up channel with the FTA, and ensure that refunds and other tax matters are handled in a professional and timely manner
  • Represent foreign entities that do not have their establishments/offices in the UAE
Vipin Kumar Ahuja

Designation: Associate Director

About Author:

Associate Director – Taxation (VAT, Excise & Customs)
Chartered Accountant, DISA, Dip. in IFRS.
Having over 12 years of experience in advising clients on Direct & Indirect tax and regulatory issues across India, UAE, KSA & Bahrain.

Areas of Specialization:
– Value Added Tax (VAT)
– Excise Tax
– Custom
– Transfer Pricing
– Project Management
– Process Improvement
– Risk Management


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