Finance , Accounting & Tax Professional with in-depth knowledge and understanding of accounting principles across government, and business sectors. Proactive change agent, combining implementation of strategic operational initiatives with solid direction of cross-discipline departments to enhance bottom-line financial performance and company growth.
Master of Accounting, The University Of Canberra ACT (Austraia ) .
Master of Mangement, Griffith University QLD (Austraia ) .
Member of the Association CPA (Australia) .
GCC VAT Compliance Diploma (UK, UAE).
UAE Chartered Accountant UAECA.
Xero Software Certified Advisor.
Registered Tax Agent #20035176 ( UAE).
Member of Australian Business Council in Dubai (ABCD).
Tax Agent Services in UAE
A tax agent is usually appointed on behalf of another person to represent him before the Federal tax authority. A tax agent takes care of the client’s tax obligations and performs various legal activities prescribed by the law.
SH Accounting & Tax Solutions is a registered tax agency in UAE which acts as a mediator between Federal Tax Authority and taxable persons. We represent your firm as a taxable body in front of the FTA. We make it point to continuously update ourselves about the legal changes, so as to eliminate the possibility of penalty on noncompliance of the new provisions. We assist you in better planning of your taxes and differentiating between the Dos and Don’ts. By appointing a Tax Agent in UAE any taxable person (company or individual) can reap the following benefits:
A tax agent proficient in Arabic, since some of the documents may have to be given in Arabic language to the concerned authorities.
Ease and reduced workload for the concerned organization as the tax agent will be responsible for the maintenance of documents and records for the period of 5 years (in the case of Real Estate Companies it will be 15 years).
Frequent updates on the latest changes in the law as well as the penalty for noncompliance which will help the organization identify the right “Dos and Don’ts, resulting in better tax planning.
Federal representation, in the case of assessment notice or notice for tax audit.
The federal law specifies the procedure for listing Tax agents as opened, and SH Accounting & Tax Solutions is one of the registered Tax Agent in Dubai, UAE with a goal to serve the business community better. As your tax agent, we will be responsible for providing all the information and data to the FTA if requested to submit on your behalf.
Responsibilities of a Tax Agent
When appointed by Taxable People to assist them the following are the role played by tax agents:
Ensure that the Taxable People are doing their obligations as tax-registered businesses as per the law and as per the agreement between the two parties
Preserve the privacy of the Taxable People and the company’s information in the duration of action as a Tax Agent to the Taxable People as it is all classified information
Decline any plans proposed that is going to harm the integrity of the country’s tax system and violate any law in the country
Provide the information, documents, records, and data of the Taxable People to FTA only when they are requested by the said government as per Article 15, Part 2, and Chapter 3 of the VAT Law
The value added tax was introduced in the United Arab Emirates (UAE) on 1st January, 2018. The rate of VAT is set up at 5%. Every business whose taxable supplies and imports exceed AED 375,000 per annum are mandatorily required to get their business registered for VAT. The Federal Tax Authority provides the choice to the businesses whose taxable supplies exceed AED 187,500 whether to register themselves or not. Failure to provide an accurate and complete registration for your TRN can lead to delays and possible administrative penalties in the UAE. Speak to one of our Dubai advisors to help navigate the VAT registration requirements and experience a stress free process.
Documents and information required for VAT Registration in the UAE:
Before applying for VAT Registration, a few documents are required, along with the soft copies which should also be uploaded along with the application.
Documents identifying the authorized signatory e.g. passport copy, Emirates ID
Trade license copy of the company
Certificate of incorporation, articles of association, power of attorney etc.
Description of business activities
Turnover for the last 12 months in AED
Supporting document for 12-month sales
xpected turnover in next 30 days
Estimated value of imports for one year from each GCC countries
Estimated value of exports for one year to each GCC countries
If you expect to deal with GCC suppliers or customers
Supporting documents for customs registration in each Emirates if applicable.
Bank Account Details
SH Accounting & Tax Solutions in Dubai have handled the VAT registration of many businesses. For more details regarding the registration for VAT and getting your business registered, get the best guidance and assistance at SH Accounting & Tax Solutions
Our Tax professionals here at SH Accounting & Tax Solutions will support you in the following areas:
We will visit your office on a periodical basis to compile the information for filing the VAT Return.
At the end of each VAT return period, we prepare the VAT return on behalf of your company in accordance with the U.A.E Laws.
We ensure that the VAT returns are filed within the specified time in each tax period.
Proper guidance for the payment of Minimal Tax Liability as per the provisions of the U.A.E Law shall be observed
We will assist in preparing your company or Tax Group Vat filing or validate your prepared return.
Our qualified and experienced consultants will ensure your returns are accurately submitted and comply to the current provisions of legislation
Our aim is to ensure your workings will pass the UAE FTA audit, so we also advise how you can improve refund amounts and compliance
The UAE companies face a number of quiet challenges while implementing VAT in their business stream to ensure compliance with VAT. Since VAT is a newly adopted concept in the region, it requires the advice of qualified and experienced tax professionals to support businesses in particular while complying with this transition in the initial stages. SH Accounting & Tax Solutions provides their tax consultants with experienced chartered accountants and certified Tax experts who have industry-specific expertise in taxation that meets international standards
To build long-term relationships with our clients, we provide well-researched professional advice and effective solutions to all of their VAT-related issues.
VAT Advisory Services
Due to the introduction of VAT legislation in U.A.E, most businesses only have some basic idea about the requirements involved in VAT compliance, such as the proper documentation, proper interpretation of Articles of VAT Law and filing procedures entailed in the compliance process. SH Accounting &Tax solutions Chartered Accountants have a team of VAT consultants and tax advisors in Dubai to help you sort out any problems you may have in these areas, because of our expertise and certified FTA Tax agency services cuts across several industries, we are the right representation to managing your FTA tax procedures. Our certified accountants will advise you on options available to your case and prepare the needed documentation on your behalf. We will help your business to structure in-house recording and filing processes to ensure that your company does not incur any penalties from improper compliance. We will help you identify the potential financial challenges you might have faced during the implementation of VAT & can conduct VAT health check to identify the problem areas. We can also assign you a dedicated VAT consultant to update you on the latest developments regarding the legislation
We’ll provide best practice quality processes, expertise and platforms to run your business more effectively
UAE VAT Article 22
VAT Deregistration in UAE is an online process. Businesses and individuals who are registered under Federal Tax Authority (FTA) can de-register from VAT in two situations: If their turnover did not exceed AED 187,500 in the 12 months after registering with the FTA, they must apply for the VAT Deregistration, in such cases the businesses could apply for a deregistration with the FTA.
Eligibility for VAT Deregistration: As per the law defined under the regulations of FTA, following eligibility is must apply for VAT Deregistration in UAE.
Mandatory Deregistering VAT:
under the rules such an individual or a business which, Stops dealing in taxable goods and services OR, - The taxable supplies or expenses in the previous 12 months and the future 30 days do not exceed the voluntary registration threshold (i.e. AED.187, 500.)
If a business or an individual, who was registered as tax payer with FTA, fulfills to these criteria, it must not delay applying for de registration of VAT to avoid any penalties.
The time limit: Once an FTA registered entity becomes eligible for VAT deregistration under this criterion, they have a time limit of only 20 business days from the event causing such eligibility. Failing to apply within the available time will cause financial loss of a penalty of AED 10,000 to be paid by the taxable person as the late fee for deregistration.
Voluntary Deregistering VAT:
Under the rules of FTA any individual or business, registered for VAT, if:
Is still dealing with the taxable services and goods, but for the past 12 calendar months the supplies or expenses were under the mandatory VAT registration threshold (i.e. AED. 375,000.) AND 12 calendar months have been passed since the entity was registered with FTA under voluntary registration. There is no limitation for any number of days to apply for FTA deregistration.
SH Accounting & Tax Solutions FTA APPROVED Tax experts will be more than willing to assist your businesses in the timely fulfillment of the de registration formalities so that the hefty fine could be avoided For more information on Tax Deregistration services, contact us today
What is a Tax Audit?
A tax audit is basically a government’s assessment of a company about their responsibility as a taxable entity. This kind of audit is conducted by the FTA to ensure that every liability is paid and every tax due is collected and given to the government within the timeframe given. A tax audit is when the FTA decides to examine your tax return a little more closely and verify that your income and deductions are accurate. All the businesses should be ready for audit by the UAE’s Federal Tax Authority (FTA). The tax payer and the legal representatives (tax agents) are required to provide full cooperation and complete assistance to the auditors of Federal Tax Authority (FTA). Accounting system should be in place and accounting data should be kept for 5 years
It is recommended that such a review is conducted at least once each year to ensure that the business is compliant with changing tax laws and other statutes
Save your businesses from getting closed and getting heavy VAT fines and penalties.
Failing to apply for registration within the timeframe specified by the VAT Law.
Failing to submit a Tax return within the timeframe specified by the VAT Law.
Failing to settle the payable tax stated as such on the Tax return that was submitted within the time limit specified by the Tax Law.
Submitting an incorrect VAT return.
The Registrant failing to account for Tax on behalf of another person when he is obligated to do so under the Tax Law
The shortfall in VAT payable as a result of a tax evasion
Also, there could be administrative penalties levied on the taxpayers if the findings lead to those instances specified in the law
Tax Violation penalties after a Tax Audit.
Penalty of AED 10,000 will implement for not maintaining financial records.
Submission of Incorrect Tax return by the Registrant will be AED 3,000 for the first time and then AED 5,000 in case of repetition.
Failure of the person conducting business to facilitate the work of the Tax Auditor will be AED 20,000.of the taxable person to submit a registration application within the time frame specified in the tax law will be AED 20,000.
Tax Violations in UAE will also lead to shutting down of the business entirely and the cancellation of the Trade license.
Reach out to a certified FTA Tax Agency we can help you save cost, minimize risks with timeless advice
The value added tax was introduced in the United Arab Emirates (UAE) on 1st January, 2018. The rate of VAT is set up at 5%. Every business whose taxable supplies and imports exceed AED 375,000 per annum are mandatorily required to get their business registered for VAT. The Federal Tax Authority provides the choice to the businesses whose taxable supplies exceed AED 187,500 whether to register themselves or not. unt eros dui sed enim.
The UAE companies face a number of quiet challenges while implementing VAT in their business stream to ensure compliance with VAT. Since VAT is a newly adopted concept in the region, it requires the advice of qualified and experienced tax professionals to support businesses in particular while complying with this transition in the initial stages. SH Accounting & Tax Solutions provides their tax consultants with experienced chartered accountants a
VAT Accounting &
Accounting is the most imperative factors that make a business run, and it is basic for you to realize why bookkeeping is the soul of any business. We cover all aspect of accountancy and try to comprehend your business needs for accounting services in UAE. Regardless of what kind of the industry you are in, it is very important to have clear and concise business accounts.