Allow us to assist you in the hassle-free transition of your businesses into a new VAT regime
The value of supply and purchases made by a taxable person during the tax period is summarized in a VAT return, which also reveals the taxable person’s VAT liability. The difference between the output tax payable , i.e.,VAT paid on supplies of goods and services and the input tax recoverable, VAT incurred on purchases, for a given tax period is the VAT obligation. The difference between the output tax and the input tax must be paid to the Federal Tax Authority. If the input tax is more than the output tax, the excess input tax will be recovered, and the taxable person will be allowed to deduct it from future payments to FTA.
Managing VAT is a critical task for all firms, and it necessitates keeping up with changes in VAT rules. Our team of highly educated Chartered Accountants with extensive experience and skills in the fields of accounting and taxation will assist you in guaranteeing VAT compliance. From recording your indirect taxes to expenditure, we enlist the help of a team of skilled professionals that are well-versed in regional and business standards.
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