Vat Consultants in UAE

1. Services From VAT Consultants No matter which part of the country or world you are residing in you are bound to have heard about VAT or Value Added Tax. This form of tax was first introduced by the European Economic Community (now the European Union) in the 1970s. It is a form of indirect tax that is charged on the domestic consumption of goods and services. However there are a few exceptions for which the VAT does apply like those that are zero-rated including food and essential drugs or goods which are exported. The tax is usually imposed at every stage in the chain of production and distribution from raw materials to the final sale. The amount of VAT levied depends on the price of the product at each stage. The amount is not payable by the producer at any stage. The entire amount is paid by the final purchaser in full during purchase after the amount keeps on getting added at each step. This however avoids the double taxation (tax on tax) of a direct sales tax. The VAT tax is usually regulated by the state Government in India and thus the VAT procedure, VAT rates and the applicability of VAT differs from one state to state. In most states in India if you are running a business that has annual sales turnover more than Rs 5 lakh then you are obligated to obtain a VAT registration. One may not be fully aware about all the technicalities involved in VAT filling and registration and there in comes the role of VAT consultants. VAT consultants are professionals who handle all matters related in VAT in India and abroad. VAT consultants in UAE or other countries in the world provide a number of services which includes VAT registration, VAT consultation, VAT return filing, VAT hearing, VAT audit, and more. A VAT consultant in Dubai provide all services relating to the VAT regulation in the country. If you are looking for the best VAT consultancy services in UAE then look no further than Xcel accounting who are a firm of experienced VAT consultants established in Dubai.