Ensure VAT Filling & Payment
All registered businesses must collect and pay VAT across the Supply Chain, and must declare these numbers to Federal Tax Authority on or before the due dates. If due, payment must also be made before the same deadline
Ensure Implementation of FTA Decree Laws
Other than basic obligations, all businesses must comply to articles mentioned in FTA Decree Law and other related regulations as issued by the Government
Register for VAT
If a business meets the threshold for registration, it must register with FTA as a first step for VAT compliance
Maintain a record of all Documents
Businesses must maintain all documents such as Financial Statements, Sales and Purchase Invoices, and details of expenses to name a few; for a period of 5 years, and must present them in case of being asked by FTA
Comply with FTA if an Audit Invokes
Business must fully comply with FTA officials in case of an Audit being invoked from the FTA. They must be able to present all documents and supporting elements as and when desired by the FTA.
VAT Readiness Assessment:
DgTx conducts a “readiness assessment” to give you a comprehensive report on all the identified aspects of your business that will thoughtful attention. This is recommended In the event when a full due diligence is not a current priority and a very simple exercise is preferred in order to identify and align which elements of your business associated with VAT responsibilities.
VAT Due Diligence
In combination with tax, legal, accounting expertise and host of other competencies to call on, DgTx can conduct the most appropriate due diligence on your business enterprise, regardless of the the size or complexity, in order to to analyse the ultimate impact that VAT will have on your systems, supplier compliance, policies, procedures, staff competence, and even your corporate structure, and report ahead the risks that each element of your business will be ultimately exposed to in recommendation with corrective measures. This will enable the entire management to make the best decisions so as to ensure successful implementation for a fully sustainable solution and also to optimally mitigate the overall impact on VAT on your entire business and its success.
VAT Registration
With the expected rush for registration as well as usual processing and administrative issues, DgTx can provide the most necessary support in order to to facilitate the entire registration process and make it extremely simple as possible.
VAT Returns
In a new VAT environment where a number of employees have quite limited experience, DgTx can assist with the completion all periodic returns along with ensuring timely and accurate filing of VAT calculations by attending to any queries highlighted by the relevant authorities.
VAT Audits
A regular VAT ensures proper compliance as well as correct implementation and accounting. The DgTx team can provide independent credible assessments periodically so as to prevent possible non-compliance and even the suspected identification of any under claiming related to VAT input credits.
VAT Rulings
Legislation has always grey areas that need clarification. This may arise in the case of the ordinary transactions for which it may not be apparently evident as to what the VAT impact will be on the core business. DgTx can apply for clarification as well as obtain VAT rulings from the relevant authorities absolutely relevant to your particular situation.
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