Vat In GCC

Contact our professional accountants for VAT Registrations & VAT Filings in GCC.

Our Process

Free Consultation

Your books, processes, previous returns

Record all your financial transactions

Including, connecting with all online banking...

Weekly and Monthly reports

Including your Bank Reconciliation, P&L, Balance Sheet...

Business Analytics

Including, advice on savings, industry comparison, process change guidance, etc.

Vat in GCC


A significant milestone in the GCC was achieved when UAE along with Saudi Arabia, Bahrain, Qatar, Kuwait, and Oman announced the adoption of indirect tax system, namely VAT (Value Added Tax).

The GCC countries under the GCC VAT Agreement have aiming to adopt 5 %VAT from 1st January, 2018. for countries that are VAT prepared and 1st January 2019 for GCC countries that are not VAT prepared.

The VAT is the largest-ever tax reform in the fiscal history of UAE. It charts a new course for indirect tax system in UAE. UAE declared the adoption of VAT from 1st January 2018

Summary of Key Provisions

AREA SUMMARY
Registration Threshold Mandatory for businesses with taxable supplies over AED 375,000 Voluntary for business with taxable supplies between AED 187,500 and AED 375,000
Registration Commences from Q3 of 2017
VAT Rate 5% for standard rated supplies
VAT groups It allows to register multiple companies with same shareholder with one VAT number. It generally allows to ignore the supply or transactions that usually takes place between those companies.
Categories under VAT Standard rated Zero Rated Exempt Supplies
Categories under VAT Standard rated Zero Rated Exempt Supplies
VAT Invoices Only a VAT registered business can issue VAT invoice Invoice should be issued within 14 calendar days of the taxable supply Invoices to be rounded off to the nearest Fils
Filing Filing of returns to be made every quarter VAT returns to be filed online
Record Keeping Invoices issued and received should be kept for a minimum of 5 years
Reporting of transactions at an Emirates Level Taxable businesses will be required to report details of the value of supplies made in each Emirate on their VAT returns
Audits Audits may be conducted to inspect records and make sure persons are paying or reclaiming the right amount of tax

Value Added Tax Registration
Record Keeping
Books of accounts 
Annual accounts, general ledger, purchase day book, invoices issued or received, credit and debit notes.
All tax invoices and alternative documents relating to receiving goods and services
All received tax credit notes and alternative documents received
All tax invoices and alternative documents
All tax credit notes and related documents
Record of 
All supplies and import of good & services
Exported good & services
Goods and services that have been disposed of or used for matters not relating to business
Goods and services purchased for which input tax was not deducted
Provided Services
We are here to help you with all your accounting and business needs.
Day to Day Accounting Services
Processing and filing source documents
Billing services
Stock
Accounts Receivable
Accounts Payable 
Payroll
Cash book
Bank Reconciliation
Fixed Assets 
General Ledger 
Preparing monthly reports 
VAT Accounting
Company VAT status
Assistance in
Registration
Invoicing
Keeping VAT records
VAT reporting
Obtaining up-to date information about VAT rules and changes
Business consultations

Plans & Features

With years of working with businesses in various industries, our team of certified experts are in the best position to help you manage your business finance better and assist you with your various strategic decisions.

With one annual fee, there are no surprises either with your cost of bookkeeping or your taxes at the end of the year. With certified pro-advisors assisting you with every financial aspect of your business, you can choose from various plans offered by us to suit your business needs - current and projected.

Our Service offering includes -

  • On-site/Off-site Accounting Services
  • Free Accounting Software
  • Bank Account and Credit Card Reconciliations
  • Payroll Management
  • Monthly/Quarterly Financial Reporting

Client Testimonials

The accounting software provided by GCC Filings has a comprehensive set of features, especially put together for small businesses, like ours. Not only is it aesthetically pleasing, it is also easy to use and has integrated add - ons for extending the reach. Indeed an investment worth every penny! The customizable report templates, flexible transaction forms and contact records as well as comprehensive payroll support have helped us nail the finances.

-Ryan W.

With GCC Filing’s Online Accounting Software, inventory management, bookkeeping and invoicing have become an easy task. It provided for every accounts payable and receivable feature that my medium business firm has been on a lookout for. It is the best accounting software application we’ve used till date and addresses all our accounting needs.

-Richard P.

My company has been using GCC Filing’s Accounting software for a while now and by far, it has been satisfactory. Inventory and payroll management are no longer a pain. Neither is management of invoices.

-Paula L.

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