Mitraa GCC Service
The increasing resources needed for the growing economies of the GCC countries has led to the introduction of the globally accepted model of Value Added Tax (VAT). The VAT Law will have a far reaching impact on the tax structure, the tax incidence, the tax computation, the tax payment, compliance matters, credit utilizations, pricing of products and reporting. Team Mitraa is committed to navigate you smoothly through the intricacies of the newly introduced VAT Law by offering a complete solution to your organization.
- Early movers in the field of Goods and Services Tax(GST) in India.
- The Team has conducted several seminars, corporate trainings, and are knowledge partners for software houses and head a strong compliance team.
- The Team in Dubai, has been keeping abreast of the various provisions of the Value added Tax (VAT) Law in GCC over the past year.
- Dubai VAT Team is manned by Qualified Chartered Accountants and Lawyers, with specialization in Statutory and System Requirements under the VAT Law.
WHO WE ARE
Supply Chain & Logistics
ERP & IT Systems
Making you TAX ready
- Obtaining the right registrations for your business, which is a must to ensure that you pay the right taxes on your goods & services.
- Impact analysis of the new Laws on your business.
- Identifying and implementing the right business processes and system design to ensure smooth transition to the new tax regime which would include documentation requirements under the new Laws.
- Post implementation assistance to iron out any deficiencies in your system under the new Laws.
- Tailored Training Programs for your senior management and operational staff with specific focus on risk reduction and best practices under the new Laws.
Ensuring you are TAX compliant
- Office-in-office – Ensuring you are always on the right path, with our team managing your entire transition and future compliance in your office.
- Filing all your Tax returns on time every time.
- Routine and Preventive checks by our trained professionals.
- Answering all your queries on a real time basis.
- Regular updates with all the latest information and notifications on the Laws which could impact your business.
Ensuring you are tax effective
- Advising you on the appropriate classification of your goods or services, their valuation, taxability and the exemptions that may be available.
- Ensuring that you avail the right and appropriate Input Tax Credit.
- Assisting you in drafting a pricing policy.
Ensuring you are on a legal safe ground
- Assisting you in replying to show cause notices and appearing before federal authorities at various levels under the new Laws.
- Drafting of appeals and applications.
- Assistance before appellate authorities at various levels under the new Laws.
- Book keeping.
- Payroll Administration.
- Preparation of financial statements comprising Balance Sheet, Profit & Loss Account,Cash Flow statements and notes to accounts.
- Assistance and participation in meeting with statutory Auditors and internal Auditors.
- Preparation of accounts under IFRS – for Standalone or Group Consolidation purposes.
- Filing and maintenance of statutory tax records.
- Statutory compliances – health check.
- MIS design and reporting.
- Computation, provision, remittance and filing of VAT / excise returns.
A Farmer grows dates which are picked and sold to a processing factory
The farmer collects VAT from the factory on behalf of the government
The factory collects VAT from the retail chain on behalf of the government. The factory receives a refund on the VAT paid to the farmer.
The factory process the dates into syrup, which is sold on to retail chains
The Retailer places date syrup on the shelves for sale to consumers
The retail outlet collects VAT from the consumer on behalf of the governmant. The retailser receives a refund on the VAT paid to the factory
Consumer Purchases bottle of date syrup