VAT Readiness in KSA, Saudi Arabia Value Added Tax in Saudi Arabia and how to manage it effectively. Ever since the Value Added Tax is promised to be launched/ levied in Gulf Region there are free VAT training sessions, seminars, workshops, VAT implication assessment, impact analysis, awareness sessions organized both by private as well as public sector in order to educate the public who is finally going to be affected by Value Added Tax in Saudi Arabia. With it is the Value Added Tax Readiness assessment which is a prerequisite to long road to Value Added Tax journey. Here is how we can help you in knowing your VAT (Value Added Tax readiness) in Saudi Arabia. Our team of highly experts from different countries is all-prepared, to buckle your seat-belts before you take-off for your VAT Journey. Hire us as your VAT Readiness Team and our team of experienced consultants will act as VAT Assessers to conduct off-site and on-site visits to large Saudi companies. The Ass...

Value Added Tax in Dubai - UAE Snapshot VAT Registration Dates VAT Registration Opened |  1 st October 2017 Registration Deadline 31 October 2017 : Companies/ business having an Annual Turnover of more than AED 150 million Registration Deadline 30 November 2017 : Companies/ business having an Annual Turnover of more than AED 10 million Registration Deadline 04 December 2017 : All other companies/ organizations who exceed the minimum threshold which is AED375,000. Record Maintenance Proper books of accounts and financial records (invoices, vouchers, bills, agreements) Books of accounts to be maintained for 5 years VAT related record, Invoices, Bills should be maintained with serial numbers VAT Percentage Standard Rated – 5% Zero Rated 0% VAT Registration Mandatory Registration - Annual Turnover of more than AED375,000 Optional Registration - Annual Turnover 187,500 to 375,000 Registration Not Required – Annual Turnover below AED 187,500 ...

Value Added Tax (VAT) in Kingdom Saudi Arabia How to hire a VAT Consultant in Saudi Arabia A Good VAT Advisor can avoid fines and keep the company operations smooth. To avoid fines hire experienced VAT Consultants in Saudi Arabia. Value Added Tax (VAT) in Kingdom Saudi Arabia is something new for the finance, IT, operations, Admin, Human Resources, logistics, marketing and sales and consumers at large. The only question in minds right now is "How to deal effectively with Value Added Tax (VAT) in Kingdom Saudi Arabia. With the launch of VAT in GCC the companies have already started hiring consultants in all over GCC especially Saudi Arabia and UAE (United Arab Emirates). Consultants are also approaching   organization  in their own way to guide them on how to handle VAT complicated issues in Saudi Arabia. Even some of them have developed VAT applications (VAT App, IOS, Andriod) in order to   facilitate  their clients as a useful tool. Since the ...

What is Reverse Charge Mechanism : VAT in GCC, Dubai, Saudi Arabia This charge is applicable on the imported of goods or services imported from outside the GCC countries this is called Reverse Charge Mechanism. Under Revers Charge Mechanism in  UAE VAT Law  the payment of VAT is not made at the import stage/ point means there is Zero payment of VAT and the only responsibility / compliance requirement left is with the buyer to report the VAT on Purchases (Input VAT) and VAT on Sales (Output VAT) in their VAT Return for the period. The unpaid reverse charge would have paid if the purchase was made inside UAE. So the buyer has to file the VAT return and to show the Input and Output tax therein. In other words we can say that the Reverse Charge is at zero percent Article 48(1) of the  VAT Law  speaks as under: - Article (48) (1) ReverseCharge  1) If the Taxable Person imports Concerned Goods or Concerned Services for the purposes of his B...