The unofficial English version of the GCC Unified Agreement on Value Added Tax (GCC UAVAT) has been released, following its publication in Arabic in the Saudi Official Gazette. The agreement outlines a unified framework for the implementation of VAT across all six GCC member states. However, details regarding free zones and the list of exempted food items are still to be finalized. The GCC UAVAT underscores the importance of promoting economic integration among member states by establishing a cohesive legal framework for VAT.
Helps assess VAT obligations, calculations, and liabilities accurately.
Identifies errors or gaps in VAT records, returns, and procedures.
Helps minimize the risk of VAT penalties and future compliance issues.
Ensures relevant records and supporting documents are properly organized.
Provides expert guidance when communicating with the tax authority.
Strengthens internal VAT processes and reporting procedures
Reviewing VAT obligations, calculations, and potential liabilities for accuracy.
Examining VAT records, returns, and procedures to identify errors or compliance gaps.
Assessing VAT penalties and identifying possible grounds for reconsideration or appeal.
Preparing clear, accurate, and well-supported VAT appeal submissions.
Assisting with applicable reconsideration requests and related procedures.
Providing guidance on outcomes, corrective actions, and future VAT compliance.
To date we are providing Accounting Services for more than 250 clients
across the UAE in Trading, Construction, Real estate, Healthcare, Logistics and other services.
