Talal Abu Ghazaleh & Co. International (TAG-Audit) realizes the daunting challenges of value-added tax (VAT) facing institutions and companies when doing business. Therefore, TAG-Audit provides a range of state-of-the-art and smart solutions which reflect our long-standing experience to help institutions and companies in dealing with VAT to smoothly ensure the continuation and integrity of their business. This enables institutions and companies to concentrate on their business activities.
TAG-Audit’s competent team, comprising of a group of experts and specialists in VAT, provides the following services:
1.Compliance with VAT policies
In spite of the relative clarity of VAT in theory, its practice is more complex and requires numerous resources to meet compliance requirements.
We at TAG-Audit work on your behalf to meet your compliance needs with VAT policies through our experts present in many countries around the world, putting our theoretical and practical expertise at your disposal.
2.Consulting
Companies and institutions are often unaware of VAT legislation and policies that are constantly being amended. Hence, our VAT advisory team provides a series of guidelines and specialized practical advice to help your business achieve compliance with VAT policies and address issues and amendments of VAT and its legislation.
We also provide receipts auditing services to verify the accuracy of compliance with VAT policies. This is done in addition to assisting companies and institutions in the process of VAT refund in case the conditions applied are in accordance with the provisions of the system.
3.Registration service
Registration of companies, institutions and entities subject to value added tax at the specialized authority to meet the requirements of the registration process and ensure its compliance with the regulations and rulings.
4.Post-registration services including:
- Filling / auditing VAT returns/ or Selective Tax prepared for this purpose, followed by referring it to the specialized department within the legal period.
- Reviewing the company's purchases of goods and services to verify the validity of VAT amounts on purchase invoices, date of purchase and whether they are deductible and refundable or not.
- Calculating the tax on imported services and paying it to the specialized authority within the legal period and following up the claim within the VAT return for the period post payment.
- Reviewing the company's financial statements draft to verify that revenues match the issued returns and discuss any notices with you.
5.Auditing VAT return
TAG-Audit provides VAT return auditing with the purpose of verifying its correct calculation.
6.Attendance and following up field auditing works
At TAG-Audit, we recognize the importance of being present with the client’s financial department when VAT officials are auditing the VAT returns. Our team possesses the ability to discuss their notices on VAT returns and help answer all inquiries in order to complete an audit that is in line with the company's interest and in accordance with regulations and instructions of the authority.
7.Assisting in the submission of objections in case of any dispute on VAT
Through studying the discrepancies received from the authority along with the documents and information prepared by the company, our experts work on proving the company's right to object. Consequently, they assist in: the preparation of the objection, following up the objection and answering the inquiries of the authority until completion is in accordance with the requirements of the VAT system.