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Mars Group

Mars Group is one of the best leading accounting firms


in Dubai by offering IT and cyber security, digital
marketing and VAT consultancy services with
experienced professionals. Our expert staff helps the
business owner by providing customized service to
achieve their objectives with maximum efficiency.

https://marsgroup.ae/
About Us
MARS Group is founded in Dubai by a team of qualified

professionals with years’ experience and expertise in Business

Management and Consultancy. MARS is registered with FTA in

UAE as “TAX AGENCY”. MARS Group offers range and diversity of

skills and technical expertise available within the firm and through

our affiliation to respond to every client situation throughout the

United Arab Emirates and Internationally.

https://marsgroup.ae/
12 Unforgivable
Sins of VAT
Consultant
Vat Consultant
Value Added Tax is an indirect tax for consumption
goods or services. It is levied at several points in the
product chain. More than 180 countries across the world
have this form of tax. In UAE, it was first introduced on 1
January 2018. The VAT is introduced as an alternative to
complement the revenue generation for the state to
continue providing high-quality public services for its
citizens. Currently, the VAT rate is 5% in the country.
Keeping sound financial records helps in ironing out the
entire process.

https://marsgroup.ae/
12 Unforgivable Sins of VAT Consultant
 Using incorrect rates of VAT is one of the most common and
unforgettable mistakes that can result in fatal calculations.
 Lack of understanding of VAT rules cannot be used as an excuse
and hereby is the responsibility of the concerned business
associates.
 Without a tax invoice, there is no point in asking or filling the tax
returns, especially when the invoice is more than 10,000AED. For
this, you can also connect with VAT experts in UAE. Not filling the
invoice with the necessary information that includes business name,
address, owners name and the other details.
 Sales which do not fall as per the rules stated by the concerned
government must be added neither in the invoice nor in the balance
sheet.
 The businesses that are importing good which does not comply with
the standard VAT rate, i.e., 5% must make the use of the VAT return
laws consciously https://marsgroup.ae/
12 Unforgivable Sins of VAT Consultant
 Adding entertainment expenses in the VAT invoice by the tax consultant
provider is an unavoidable sin and should be stopped.
 Suppose, the company has offered free food to its employees, and for the
same, VAT return is filed then it is a blunder from the end of the company
itself and will not be granted.
 Coming to vehicles that are being used by both the company and for
household purposes does not imply for VAT returns in any manner.
 If the VAT consultant is claiming for VAT twice for the identical purchases
then refund of return, both will not be accepted.
 It is the responsibility of the VAT consultant to make the business aware not
to work with the companies that are not associated with VAT transparency.
 Filing the VAT returns by following the wrong methods is a big concern.
 Sometimes the concerned authorities ask for additional information, missing
or overshadowing any of them will result in an error.

https://marsgroup.ae/
Contact Us
Visit Us
Office 204 Bushaqer Building, PO Box: 48593,
Dubai, UAE
Call Us
+971 4 285 0950
+971 56 413 3479
Email Us
info@marsgroup.ae
Website
https://marsgroup.ae/