VAT filing in Dubai – Non-compliance would attract fines of up to Dh 50,000

VAT filing in Dubai

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It has been almost two years since the UAE levied 5 per cent value-added tax on goods and services. Since the taxation system has been introduced for the first time in the country, a number of smaller companies have been prone to making mistakes in filing their tax returns, thus attracting fines. LMC providing VAT filing services in dubai from introduced time.

Tax experts say poor planning, hiring of the wrong resources, failure to issue valid tax invoice, non-maintenance of records and mistakes in simply calculating and paying VAT but failing to file the appropriate amounts are some of the most common mistakes made by the small and medium companies in the UAE when filing tax returns. As a result, these mistakes can attract fines as high as Dh50,000.

We can help you in VAT filing services in Dubai, UAE. Lootah Management and Consultancy is passionate to give its clients the best professional services for VAT/ Excise and related Tax Consultancy in a systematic manner

Courtsy : Khaleej Times

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