UAE VAT academy
How to complete your VAT returns
The Value Added Tax (VAT) regime commenced on 1 January with a 5% VAT applying on the sale and purchase of most goods and services in the United Arab Emirates (UAE). This represents a major transformation for both the Government and consumers, however, as businesses have the responsibility of ‘collecting the tax’ the greatest challenge is on them to get it right.
Now that VAT is here, there is no option but to be compliant, as failing to do so poses both regulatory and reputational risks due to the imposition of VAT penalties by the Federal Tax Authority (FTA). It is also an important commercial issue as customers will be seeking VAT compliant documentation from you, and you will find that many of your customers will be querying your invoices and documentation.
After the success of the VAT returns sessions in Dubai, Abu Dhabi, Jeddah, Riyadh and Al Khobar, Deloitte is running another session on Tuesday, 17 April, 2018 in Dubai to guide you on how to complete your VAT returns, and to help you navigate through the issues that we found to be of general concern for many clients and non-clients attempting their first VAT returns.
For those about to attempt your first quarterly returns, this will be a great forum to assist with the process and many of the practical issues you are likely to encounter.
Topics covered will include
- Latest developments
- The UAE VAT return: what does it look like?
- Navigating the eServices portal: how to access the VAT return
- Box by box: what information should be reported on the VAT return?
- Accounts payable: attention points
- Accounts receivable: attention points
- Audit trail, manual adjustments and record keeping
- Useful reconciliation checks to perform on your VAT return numbers before submission
Dates and locations
Tuesday, 17 April, 2018.
09:30 am until 1:00 pm, followed by lunch.
The cost to attend the Deloitte VAT Academy is AED 2,500 plus VAT.
The venue will be communicated in the confirmation email.
Payment details will be shared on the invoice.
To register as an attendee, please get in touch.
Participants will have the opportunity to interact with a number of Deloitte’s core team of tax professionals and specialists, who are dedicated to serving clients – locally and across borders.