VAT Services

How Can Stew & Jones Help?

Stew & Jones provides vital services including VAT registration, VAT compliance, VAT returns, and VAT refunds. Through years of experience in offering VAT services to a range of businesses, we have developed a highly skilled team who can provide businesses of all sizes with excellent customised advice and guidance. Our VAT experts advise on compliance while maximising your VAT savings where possible. You can rely on Stew & Jones to take care of your business's needs and provide you with a professional, reliable, efficient, and accurate service, all at a competitive price.

VAT is charged at each step of the 'supply chain'. End consumers generally bear the VAT cost while registered businesses collect and account for the tax, in a way acting as a tax collector on behalf of the Federal Tax Authority.

VAT registration (Mandatory Registration)

A Business must register if

Voluntary Registration

A Business may apply to register if they do not meet the Mandatory Registration Criteria and :

What is Taxable Supply?

A Taxable Supply refers to a supply of goods or services made by a Business in the UAE that may be taxed at a rate of 5% or 0%. Imports are also taken into consideration for this purpose if a supply of such goods or services would be taxable if made within the UAE.

VAT is charged at each step of the 'supply chain'. End consumers generally bear the VAT cost while registered businesses collect and account for the tax, in a way acting as a tax collector on behalf of the Federal Tax Authority.

Why is the UAE implementing VAT?

The UAE Federal and Emirate governments provide citizens and residents with many different public services – including hospitals, roads, public schools, parks, waste control, and police services. These services are paid for from the government budgets. VAT will provide our country with a new source of income which will contribute to the continued provision of high-quality public services into the future. It will also help the government move towards its vision of reducing dependence on oil and other hydrocarbons as a source of revenue.

How will the Government collect VAT?

Businesses will be responsible for carefully documenting their business income and costs and associated VAT charges. Registered businesses and traders will charge VAT to all their customers at the prevailing rate and incur VAT on goods/services that they buy from suppliers. The difference between these sums is reclaimed or paid to the government.

VAT Exempted Supplies

VAT Group

Two or more persons conducting Businesses may apply for Tax Registration as a Tax Group if all of the following conditions are met:

Record Keeping

All registered companies should keep their books of accounts and records for five years.

In addition to that, the authority can ask for additional documents such as annual accounts, general ledger, purchase day book, invoices issued, invoices received credit notes, debit notes, VAT Ledger etc.

VAT Compliance Services

Most businesses are registered to pay VAT tax. This involves completing VAT returns which report all taxable transactions during a monthly or quarterly period. These must be completed accurately by all VAT registered companies, which can be particularly challenging if operating abroad. Therefore, it is common for business owners to unknowingly make mistakes when filing these declarations, resulting in penalties that reduce profits. To eliminate this risk, it can save your business time and money to hire a professional accountant to maintain your VAT tax compliance.

VAT Return Service

The scope of the VAT is increasing continuously, there is no confusion existing to the owners who do purchase and sell inside UAE. Businesses that import goods from the outside country and sell goods inside UAE should keep all the import documents perfectly. Those businesses that do service to different countries or free zones may confuse themselves and file wrong calculations which might lead to a huge penalty. Our VAT specialists at Stew & Jones can expertly handle your VAT Returns, allowing you to concentrate on running more significant business operations.

What are VAT returns?

VAT returns are declarations that report all taxable transactions during a designated period (Monthly or quarterly). FTA uses these returns to calculate whether you have paid the correct amount of VAT. Frequently businesses have VAT liability or can be entitled to a refund. VAT returns must be filed by all VAT registered companies and any delayed, or uncompleted VAT returns will result in penalties for your business.

VAT Refund for Companies

In UAE exports are Zero Rated from VAT. So, when you buy merchandise or other goods for Re export and if the purchased item is vatable, it will be refunded. Visitors to UAE do not have to be worried because the VAT is often refundable once they go back to their home country.

At Stew & Jones, we truly believe that by putting our clients first and by listening to what they want, we can deliver the highest possible standards of customer care. We work closely with our trades to ensure we deliver high quality and customer focused services.