Ajman
Abudhabi

050 725 26 84
info@poweraccounting.ae

SAT-THU : 8AM to 7PM
Friday Closed

our services


VAT Calculation

The companies registered under VAT will be responsible for proper documentation of their revenue and VAT charges paid by them.
The rate of the VAT in Dubai will be 5%. This tax will be calculated on the value of the transaction. Generally, it is charged on the net value ( Sales less Sales return, Transportation, Freight charges of the transaction ). The government will not be collecting the VAT directly. The traders or companies will charge the VAT to all their customers. On the other hand, they will be paying the VAT on the purchase of the goods and services from their suppliers. The difference between the VAT recovered on the sale of the goods and the VAT paid on the purchase of the goods will be paid to the government. VAT = Output Tax (VAT collected on sales/services) – Input Tax

VAT Advise & Preparation

VAT Advise & Preparation

Most types of business or professional activity are obliged to register for VAT when their turnover exceeds certain limits. It is essential that these limits are not overlooked but some clients are reluctant to become involved in the detailed record keeping required. We are able to maintain VAT records for our clients and prepare the VAT returns in good time to ensure compliance with all statutory requirements.
We assist many of our clients in the preparation and submission of their VAT returns. All VAT registered businesses have to submit VAT returns online and pay any VAT due electronically.

VAT Claim

We assist companies in the process of VAT refund following the VAT law, rules, regulations and refund conditions.
The deadline for filing VAT returns for the registered VAT providers is fast approaching. Together with the procedure for filing VAT returns and the deadlines for filing and payment, the process for claiming a VAT refund in the UAE is enjoying renewed attention by businesses. We will visit your office on a periodical basis (weekly/month) to compile the information for filing the VAT Return. At the end of each VAT return period, we prepare the VAT return of behalf of your company in accordance with the provisions of UAE VAT law.

Excise TAX

Excise TAX

Excise tax was introduced across the UAE in 2017. Excise tax is a form of indirect tax levied on specific goods which are typically harmful to human health or the environment. These goods are referred to as “excise goods”.
When considering whether a product is an excise good, the following definitions apply : Carbonated drinks, Energy drinks, Tobacco and tobacco products
The UAE Government is levying excise tax to reduce consumption of unhealthy and harmful commodities while also raising revenues for the government that can be spent on beneficial public services.

Customs

Several years before the official declaration of a Federal Customs Authority, some were calling for a unified customs law and a federal entity to apply such law in order to achieve more economic integration between the emirates, boost the federal public finance and fulfill the regional and international obligations in the customs field. However, the actual executive steps to establish the Federal Customs Authority (FCA) were taken in 2002.
The FCA draws the customs policies, supervises the execution of customs-related laws and legislation and represents the UAE inside and outside the state. Local customs departments do the executive work and draw the customs policies for each emirate in compliance with the Common Customs Law.

Cloud Based Softwares

Cloud Based Softwares

There are many advantages to using an accounting software including:
* Efficiency
* Analysis
* User-Friendly
* Security and Accuracy
Top Features of the VAT Accounting Software are:
Data Migration, Data Import, Multi Location Business Data Consolidation, Consultation & Requirement Analysis, System Design, Annual Maintenance Contract, Upgradation Services etc.

5 Years Record Keeping

It is required to maintain the required records for a minimum of 5 years by the taxable person after the end of the tax period to which they relate.
The following records are to be kept by a VAT registered person:
All records of supplies and imports of goods and services
All tax invoices and alternative documents received and issued
All tax credit notes and alternative documents received and issued
Detailed records of VAT paid on goods and services that have been disposed of or used for matters not related to the business
Records of goods are services purchased for which the input tax was not deducted
Records of exported goods and services
Records of adjustments or corrections made to accounts or tax invoices

our branches

Ajman

Near Ajman Korea Furniture
Lucky Center - Al Jurf

+971 50 2638379

Abudhabi

Bada Zayed

+971 50 7252673

Abudhabi

Gayathi

+971 50 2628791