• M-10, Mussafah, Abu Dhabi - U.A.E

Our Services

Prudence Consultancy ~ adding VALUE to your business ~

  • VAT/ Taxation Consultancy

    VAT/ Taxation Consultancy

    PRUDENCE undertakes all VAT related services, our prudent advice will assist our clients in reducing cost, improving performance and avoiding fines & penalties, besides legal challenges and violation of relevant regulatory provisions.

    Value Added Tax (VAT) is an indirect tax, also known as Consumption Tax as it is applied on consumption of taxable goods and services. VAT is applied on goods and services decided by the authorities, with the exception of food items, essential medicines, exports of goods and international services. Other Services such as healthcare, education, sale and lease of residential property and finance are VAT-free.

    VAT Registration

    We assist and take charge of VAT registration of your business entity with the relevant authorities. We ensure proper and timely registration in accordance with the requirements of the VAT Law to avoid penalties and fines.

    VAT Pre/Post Implementation

    Our world-class professional consultants are here to provide your business with their valuable services to make your business VAT-ready with regard to new VAT-regime, conduct VAT-Impact Analysis including Business Processes, Costing & Accounting records, Calculations & VAT Assessment, IT/Computer System modifications, Policies & Procedures, Sales Invoicing, Import & Export Invoicing, VAT-record keeping to align them with the requirements of VAT Law.

    We also provide post-VAT implementation consultancy to continue supporting your business at every juncture of VAT process, which requires continuous and untiring efforts. Our consultants are available 24x7 to guide you.

    VAT Calculations

    VAT Calculations require careful computation of input and output VAT figures on all commodities & services on which VAT is compulsory. Accountants, Sales & Purchase Executives need to understand the complications involved in calculation of VAT. As wrong calculations may lead to operational losses due to non-collection of VAT on account of Sales and failure to claim VAT credit on Purchases and also result administrative fines/penalties.

    VAT Accounting

    VAT Accounting needs a great deal of care and caution, debit and credit to wrong accounts may lead to improper reflection of gross, net and operating profits in accounts. Moreover, assets and liabilities may reflect wrong positions in the balance sheet. Therefore, accounting entries and ledger accounts as per international accounting standards and tax authorities are to be maintained to reflect the true position of income, expenditure, assets and liabilities.

    VAT Systems Upgrade

    In order to accommodate the provisions of VAT in computer application systems for invoicing, generating purchases and sales orders in including accounting softwares, our consultants will help you amend/modify your business systems to comply with the requirements of VAT regime.

    VAT Records Maintenance

    The authorities require the businesses to record and maintain record of all transactions of VAT-charged on Sales and paid on Purchases to ensure that proper amount of VAT is collected and reimbursed to tax authorities and to assess the VAT credit. With our knowledgeable consultants, who has previous experience of VAT laws in European and Indian subcontinent, we make it easy for you to comply with this requirement of VAT law.

    VAT Return Filing & Advice

    Timely filing of monthly/quarterly VAT returns with accurate information is of immense importance, failure to file VAT return within the stipulated timeline attracts penalties and fines, thus resulting in unnecessary costs and cash outflows. Our consultancy ensures filing of VAT return well before the deadline set by the authorities.

    VAT Assessment

    PRUDENCE ensures regular follow-up and accurate assessment of VAT liability and resolution of any VAT litigation.

    VAT Payment / Credit Refund

    Reimbursement of VAT collected on Sales and paid on Purchases need accurate calculations and timely deposit of funds with careful assessment of VAT credit to be set-off against the VAT collections. PRUDENCE helps you in payment and credit of VAT.

    VAT Retainership / Agency

    Prudence provides VAT retainership to ensure continuous consultancy services during the course of your journey as a VAT obligant. We also arrange agency services to represent our clients to FTA for VAT related matters and solve issues relate to VAT assessment, refund and claim related to our client businesses.

    Excise Duty & Corporate Tax

    We also provide advice about Excise Duty and Corporate taxation to corporates which are under obligations to pay Excise Duty and Corporate Tax.




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