Each member state of the GCC will establish their own separate national legislation concerning VAT and as such the detailed compliance requirements and set of rules will be outlined in each respective legislation. Businesses and individuals engaged in any business activity whose turnover exceeds the mandatory VAT registration threshold specified by the respective national VAT laws must register for VAT. An inherent feature of the VAT is the self-assessment nature, meaning every business which is VAT registered (or required to be VAT registered) must record, assess and report its VAT obligations and entitlements, in accordance with the law, to the tax authorities.

Other requirements of the VAT will include:

• Mandatory registration for VAT for all businesses exceeding the mandatory VAT registration threshold.
• Filing of periodic VAT returns with the tax authorities (either monthly or quarterly).
• Remitting any VAT payable by a specified date.
• Record keeping in respect of all business transactions:
–– Tax invoices
–– Debit or credit notes
–– Import and export records
–– Records of goods/services provided for free or allocated for private use
–– Zero rated or VAT exempt supplies and purchases

Our main area of services are:

1. Vat Registration federal law 8 on Value added tax of 2017
2. Registration amendment.
3. Assistance for vat return filing.
4. Deregistration
5. Review of business process with regard to the compliance with law.