Al Dhaheri Jones & Clark reports 73 per cent growth in VAT registrations

As the date for the implementation of value-added-tax (VAT) draws closer, Al Dhaheri Jones & Clark (ADJC) reported a 73 per cent growth in VAT registrations. The company has anticipates further surge in the number of registrations this month.

“As the deadline for VAT nears, small and medium sized (SME) businesses in the UAE have realised that it is important to hire the services of legally qualified tax agents and consultants to avoid violation of the tax law. This not only helps them fully meet their tax obligations, but also makes them ready for the next phase of VAT,” said Mohammed Fathy, General Manager of Dubai-based consultancy, Al Dhaheri Jones & Clark.

A value-added tax (VAT) at a five per cent rate is due to be implemented on goods and services in the United Arab Emirates starting from January 1, 2018. With a team of seasoned tax specialists, ADJC is well equipped to help businesses in the UAE comply with VAT requirements.

“At ADJC we are committed to assist businesses in the UAE comply with VAT requirements, and the record number of businesses registering with us is a testament to the commitment we bring to our work. As an organisation, ADJC focuses on providing clients with best-in-class services, business expertise and leading edge technology. The record number of registrations is certainly encouraging and we are confident that the positive momentum will continue in the year to come,” added Mohammed Fathy.

“While we have assisted businesses in the UAE adopt and comply with VAT regulations, the willingness to meet tax obligations by businesses is also commendable,” concluded Mohammed Fathy.

Al Dhaheri Jones & Clark is a consultancy firm and renders services as auditors, financial and accounting experts as well as advisors and consultants for specialised financial services.

Though all GCC countries agreed last year to introduce VAT, only the UAE and Saudi Arabia have said they will implement the new tax starting from January.