FAQ

  • How Will My Business Benefit from Outsourced Accounting Services?
  • Outsource accounting eliminates standard employee expenses like benefits, insurance, payroll taxes, and paid leave. An outsourced firm allows you to stay track of your accounting records and data on a day-to-day basis. Also having a good expertise team on your side ensures the simplest financial reports that meet regulatory and compliance standards.

 

  • Why is Cloud-Based Software Better than In-Office Accounting?
  • One of the biggest appeals of the cloud for mobile business users is the ability to be productive from anywhere. Through the cloud, you and your team have access to your business software tools from anyplace at any time.

 

  • What is pricing structure for Accounting Outsourcing Services?
  • We provide the most competitive prices in the industry for financial and accounting services. Our fees vary depending on the project complexity and type, skill requirement, technology used, and term of the deal.We provide great value for money. We determine the scope of our services and establish a fixed monthly amount which is agreed upon before commencing the work.

 

  • Where will be the Accounting Outsourcing Services provided?

We are very flexible. Our consultants can either come to your office or we can have your documents collected and work from our premises.

 

  • Who needs to register for VAT?
  • A business should register for VAT if their taxable supplies and imports exceed the mandatory registration threshold of 375,000 AED.
  • If the supplies and imports of the business are less than the mandatory registration threshold, but greater than the voluntary registration threshold of AED 187,500.
  • If expenses of the business exceed the voluntary registration threshold. This opportunity is designed to enable start-up businesses with no turnover to register for VAT.

 

  • What is input tax?

Tax paid by an individual or a business when receiving goods or services or while conducting an import.

 

  • What are Designated Zones?

Designated Zones are areas identified by the UAE Cabinet as eligible for special treatment under the UAE VAT law. A Free Zone (fenced or unfenced) that does not qualify as a Designated Zone will not receive special VAT treatment.

 

  • What are the types of supply?

Taxable supply: When a supply takes place within the UAE, it falls within the scope of the UAE VAT, and will be considered taxable supply.

Out-of-scope supply: When a supply takes place outside the UAE, it is outside the scope of the UAE VAT.

 

  • What is the VAT treatment on the supply of commercial buildings?

The rent, sale or leasing of any commercial building is subject to 5% VAT. The VAT amount paid on expenses relating to the supply of a commercial building can be recovered by the owner.

 

  • What is a Voluntary Disclosure under FTA?

In 2017, the UAE Federal Tax Authority (FTA) introduced Form 211. This form helps taxpayers notify the FTA of any error or omission they may have noticed in their tax returns, tax assessments, or tax refund applications that they have already submitted.