SERVICES

VAT services

YAG Accounting is a registered Tax agency with Federal Tax Authority (FTA)in UAE.

YAG Accounting & Tax Consultancy is a Registered Tax Agency(Tax Agency Number: 30002125) in accordance with the Federal Law No. (7) of 2017 on Tax Procedures in the UAE which describes the appointment of a Tax Agent, & a Tax Agent's registration procedure & conditions that must be fulfilled for registering a Tax Agent in the Register.

We support businesses to deal & comply with VAT laws & legislative obligations, whether that is preparing their book-keeping and VAT returns, advising on complex VAT issues and VAT planning opportunities, or dealing with a VAT audit.

We provide both expert advice and practical, hands-on assistance, our VAT specialist will work with you to ensure that your VAT returns are prepared efficiently that your obligations, risks and opportunities are identified and managed appropriately.

Our wide range of VAT related services include:
  • Process VAT Registration or De-registration
  • Prepare & e-file periodic VAT returns
  • VAT Consultancy Services
  • VAT Compliance Review
  • Conduct diagnostic review of all VAT related transactions.
  • Act as Legal Tax Agency or Legal representative on all VAT matters such as audit, dispute & appeal
  • Advise the company's management on VAT related issues
  • Act as your point of contact on all inquiries with the FTA related to any issue of your business.
  • Ensure compliance with Federal Tax Law, Procedures & Executive Regulation
Act as your VAT Agent & legal representative:

It will not be always possible for businesses to look after complex issues on tax matters and resolve it with the Federal Tax Authority by itself. It will be necessary for the companies to appoint an expert to handle their tax matters. We are ready to deal with Federal Tax Authority on your behalf.

We also advise you on how to minimize the risk of problems with FTA and, should disputes arise, we can help in the negotiations and if necessary represent you at the VAT Dispute Resolution Committee.

VAT Planning:

Value Added Tax is one of the most complex taxes and requires careful planning to ensure that businesses do not under or overpay. We can work closely with you to guide you throughout this challenging legislation area.

VAT Specialist to Guide & Support Your Business

It is vital for any taxable person to file accounts and timely VAT returns to FTA including reporting on GCC sales and purchases. There is a heavy penalty for failing to comply. We can assist with the initial registration process, the selection of the most appropriate VAT scheme, do your record keeping to ensure that the maximum amount of VAT is recovered & completion of return.

VAT help for foreign businesses operating in UAE & GCC:

We can represent & assist foreign businesses & multinational companies in their VAT implications in UAE or in any other VAT participating countries in the GCC or simply reclaim VAT suffered.

We can help in VAT registration & act as VAT agent for overseas business wishing to trade or set up a branch in the UAE.

Our expert team will support you to ensure that your company's VAT compliance in a smooth and simple process, taking up as little of your valuable time as possible.We work with all types of organizations that have cross-border VAT dealings, large and small. Your business is in safe hands with us.

We can provide specific advice on the following matters:
  • Land & buildings, including construction and related services
  • The treatment of transfers of businesses as a going concern
  • International services, including the place of supply rules
  • Cross border movement of goods, including distance selling&E-commerce
  • Considerations for charities
  • Partial exemption methods
  • Disputes with FTA, including the penalty and interest regimes

Financial Accounting

Provide business owners with necessary financial statements they need to run their business, including but to limited to, Income Statement & Balance Sheet, A/P aging, A/R aging, inventory & all other standard accounting reports.

We can develop owner's specific reports or help create custom reports that owner may need to run the business.

Do year end accounting entries & adjustments.

Prepare Notice to Reader to business owner if required.

Bookkeeping

We provide a full set of bookkeeping services. Our team of experienced QuickBooks pro advisors are dedicated & eager to assist you with the management of your finances. We will develop a solution that is fully customized to meet your specific needs and allow you more time to run the day-to-day operations. Our bookkeeping service add great value for business owners. You provide your documents on a weekly, bi-weekly, monthly or at any time suitable to you, we then accurately book all income & expenses for the period & reconcile bank accounts, credit cards statements, vendor & customers. After we complete entering all transactions you will be provided the financial reports you require to help you get a clear picture of your business and make sound business decisions.

Our bookkeeping services provides you with the following;

  • Data Entry – Booking all financial transactions
  • Bank & Credit Card Reconciliation
  • HST Reporting
  • Financial Reporting
  • Accounts Receivable
  • Accounts Payable
  • Monthly/Quarterly Remittance
  • Other Financial Services as Needed

Income Tax Services

We make sure you stay on top of all the taxes your business might owe.

We make the year-end process a breeze by staying current throughout the year.

  • Corporate Income Tax return T2 preparation
  • Personal Income Tax return T1 preparation
  • Self Employment
  • CRA audit Assistance &representation

Back in taxes…? No worry we do previous year returns also

WPS & Payroll

YAG accounting offers full payroll services …….Fast & accurate process

Just send us your payroll information such as hours worked, pay rate, we will prepare your complete payroll.

Our services include:

  • Issuing pay cheques to your employees
  • Issuing pay stubs containing information about net pay & payroll deductions such as CPP, EI, & income taxes.
  • Providing you with payroll reports
  • Preparing & e-filling annual T4s & T4 summary.
  • Issuing Record of Employment
  • Prepare payroll remittance for Canada Revenue Agency

CFO & Controller Services

At YAG Accounting we belief that as a business owner/manager you have many important things to do than to keep your own books of accounts. Growing business often reach a point where it needs professional financial advice, but itcannot afford a full-time CFO or financial controller. If your business in these situation, YAG Accounting has the solution.

Our part time CFO & Controller service gives you a professional financial expert who works with you to help guide your business to success. We can assist you with issues like cash management, employee training, trend analysis, development of accounting manuals, train or supervise accounting staff, start-up and business plan, review accounting system, budgeting, prepare or review monthly & annual closing process, review/negotiation of insurance policies, liaison with bankers, attorneys, vendors, insurance agents, etc.

Business Incorporation Services

We can incorporate your existing or new business, either federally or provincially, at very low rate.

Same day service for Ontario Corporation. Next day for Federal corporation. Once we complete the incorporation process, you will provided with the necessary documents such as certificate of incorporation, name registration, business number and if required a GST/HST account number.

A corporation is different from a sole proprietorship or partnership in one important way: it is a separate legal entity. A corporation has a separate legal existence independent from the owners of the business. A corporation can buy, own & sell property, sue & be sued. Corporations are taxed separately from their owners. Therefore a corporation must file its own income tax return. Why should a business incorporate?

There are many tax advantages to incorporating your business, such as

  • Lower income tax rates
  • Carrying losses forward offset profits in subsequent years.
  • Income splitting
  • Limited liability
  • Income Control
  • Potential Tax Deferral
  • Qualify for Small Business Tax Deduction
  • Corporations Carry On - unlimited life span
  • Capital acquisition

Incorporating - Provincial vs. Federal

Federal incorporation if your business needs the nationwide business name protection, or if your business is or will be operating internationally

.

Provincial incorporation if your business is and plans to be operating primarily within one province.

QuickBooks ProAdvisor

Have you just purchased QuickBooks accounting software and need help with setting it up? Would you like some training in how to use QuickBooks features?

Or have you been using QuickBooks incorrectly and need help troubleshooting accounting issues within the program?

YAG Accounting & Tax Services can assist you with all your QuickBooks needs.

As a certified ProAdvisor, we have the professional skills and expertise to get you up and running efficiently.

Call today to learn more about our services.