VAT Compliance Review

VAT is a self-assessment transactional tax. It is the taxpayer’s responsibility to ensure that the extensive obligations imposed by the legislation and regulations are fulfilled and that VAT is correctly accounted for, collected, and paid over to the Federal Tax Authority. The onerous obligations placed on taxpayers in operating this high-risk transaction-based tax are difficult to navigate. We operate in a constantly-evolving tax, operational, and technologically-driven landscape which brings in more risks for taxpayers.

MBG Corporate Services targets in finding out disparities in your organizational VAT policies and appropriate procedures as per the UAE VAT Laws with our VAT Compliance Review. A VAT Compliance Review is more of a necessity than an option since it will prepare your organization to face a VAT Audit. To avoid falling under the prospect of non-compliance with VAT, it is always better to have a third-party consultant conduct the VAT Compliance Review in your organization.

Our VAT Compliance Review will help you in understanding the causes of non-compliance and address them in the future. It will help you in identifying the areas which require rectification while assuring the accuracy of taxes remitted. We support companies in meeting Tax Compliance obligations, optimizing costs, mitigating risks, and avoiding unnecessary penalties.

MBG Corporate Services provides a host of Compliance Review and Outsourcing Services to assist companies in the ever-evolving regulatory landscape. Our VAT Compliance team reviews the client’s compliance framework and all the VAT reports and our experts support clients to remediate after identification of the loopholes in the compliance system. Our experienced team will further ensure that the entity does not create any VAT issues for the customer and other businesses which can adversely affect the business reputation and commercial relationships.