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VAT Accounting Services in Dubai

Under the VAT law in UAE the books of accounts and records are to be maintained for at least five years.

Maintaining accounts and books are mandatory.

Records Maintained by the Taxable Person

The taxable person shall keep the following records:

a. Records of all supplies and Imports of Goods and Services.

b. All Tax Invoices and alternative documents related to receiving Goods or Services.

c. All Tax Credit Notes and alternative documents received.

d. All Tax Invoices and alternative documents issued.

e. All Tax Credit Notes and alternative documents issued.

f. Records of Goods and Services that have been disposed of or used for matters not related to Business, showing Taxes paid for the same.

g. Records of Goods and Services purchased and for which the Input Tax was not deducted.

h. Records of exported Goods and Services.

i. Records of adjustments or corrections made to accounts or Tax Invoices.

j. Records of any Taxable Supplies made or received.

k. A Tax Record that includes the following information:

1) Due Tax on Taxable Supplies.
2) Due Tax after the error correction or adjustment.
3) Recoverable Tax for supplies or Imports.
4) Recoverable Tax after the error correction or adjustment.