MHM has been a leader player in providing Taxation services for corporates. Our team of VAT experts will support you to the VAT process and frame it in the most beneficial way to reduce your cash outflow during tax payment stage, through delivering a wide range of services in VAT
Any business should retain VAT invoices for at least 5 years.
A customer VAT number will be needed to enable a supplier of goods and services to a recipient in another GCC country to invoice without VAT.
Yes, a Penalty of AED 10,000 is required to be submitted in case of failing to keep a track of proper records and if repeated a sum of AED 50,000 needs to be paid.
When goods are imported from an overseas supplier to be sold to an overseas buyer without being brought in UAE, its excluded from VAT. Also, if a VAT registered business in UAE supplies goods or services to a VAT registered business in GCC, the sale is excluded from VAT.