Accounting Services

After the implementation of 5% VAT (Value Added Tax) in the UAE, all the companies maintain proper book- keeping and accounting of fund transactions. Based on the requirements of Clients, Aurion arranges site visit of Accountants enabling them to maintain proper records. AURION assists in start up companies by providing basic assistance in Accounting, invoicing and maintaining of records. It has tie-ups with reputed Audit companies and makes arrangements for Audit Reports for UAE Companies at a very cost effective fees.
Implementation of VAT (Value Added Tax) in the UAE
The United Arab Emirates and other GCC (Gulf Cooperation Council) countries have decided to implement Value Added Tax for all business transactions inorder to strengthen the Governments for providing adequate infrastructure, safety, security, public services and welfare of the people. Towards the end of 2017, the Finance Ministry has started registering companies for value added tax that are above the yearly threshold as the country gears up for applying the 5% levy from January 1 2018. The Companies have to keep record of their financial transactions and make sure that all records are accurate. A business must register for VAT if its taxable supplies and imports exceeds AED 375,000 per annum. It is optional for businesses whose supplies and imports exceed AED 187,500 per annum. The government also mentioned that it will ultimately become obligatory for all companies to be registered under the system, when it is rolled out in the second phase, regardless of the reported revenues.
VAT is charged at each step of supply chain. The ultimate consumers generally bear the VAT cost while Businesses collect and account for the tax, in a way acting as a tax collector on behalf of the government.