Recovering Value-Added Tax (VAT) is a crucial part of an effective indirect tax strategy. However, learning how to claim a VAT refund in UAE for your business is sometimes difficult and long delays are common. Taxpayers must not only know the cases when they have the right to demand a tax refund, but they also need to understand how they can get prepared to obtain the requested VAT tax refunds within a short timeframe.
If not, the problems which may arise during the VAT return processes might adversely affect the financial management of the business. To expedite the VAT tax refund process, the tax refund file must be prepared completely along with all other procedures. Although there are several mechanisms for VAT recovery, it may be difficult for businesses to fulfil the requirements in practice.
Besides, tax authorities apply strict criteria before they authorise a repayment. Barriers to recovering VAT refunds include a lack of understanding of the detailed indirect tax rules, difficult administrative procedures and insufficient or incorrect documentation as well as missed deadlines for a reply to the Federal Tax Authority. Unclaimed tax credits and missed or delayed refunds commonly cause negative cash flow and tax leakage that increase business costs and reduce profitability.
MBG Corporate Services is a Registered Tax Agency with the Federal Tax Authority, comprised of professionals dedicated to client satisfaction and high-quality services. We have an extensive network of Tax Agents & VAT professionals with in-depth understanding and experience in VAT refund procedures. Our experts can assist your business to develop or improve related business processes to reduce the time and administrative costs associated with making claims and increase your chances of success.
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