VAT Health Check

Ms-ca13 Oct, 2020Finance

VAT is a complex tax affecting every aspect of your business in the UAE and the worldwide market � calls for close attention. VAT is a transaction-based indirect tax which is levied at each step of the supply chain. End consumers generally bear the VAT cost while registered businesses collect and account for the tax, in a way acting as a tax collector on behalf of the Federal Tax Authority. Hence, businesses are responsible for declaring their tax correctly through a VAT return and pay it in a timely manner.