ALL ABOUT NUMERICS
What We Are
NUMERZONE is an auditing and accounting service organisation, originated from Kerala, in India. It is managed by Indian Chartered Accountants having experience of more than 28 years in entire spectrum of Accounting, Finance, Auditing, Taxation, Projects and Management Consultancy services. It has its strong presence in India and UAE.
We offer accounting and book keeping services to our clients to ensure availability of accurate and relevant financial and operational business information. With the advent of VAT in GCC, it is a mandatory legal requirement for any registered business entity to maintain appropriate books of accounts to ensure that all applicable taxes are paid and required tax returns are filed properly within due dates.
Value Added Tax ( VAT )
Germany and France were the first countries to implement VAT , in the form of a general consumption tax during first World War . The modern variant of VAT was first implemented by France in 1954 in Ivory Coast colony. Recognizing the experiment as successful, the French introduced it in 1958. Initially directed at large businesses, it was extended over time to include all business sectors. In France, it is the most important source of state finance, accounting for nearly 50% of state revenues.
VAT was introduced in the UAE on 1 January 2018 with a rate of VAT 5%. The VAT, as a general consumption tax, will apply to the majority of transactions in goods and services. UAE imposes VAT on tax registered businesses on a taxable supply of goods or services at each step of the supply chain. VAT registered businesses collect the amount on behalf of the government; consumers bear the VAT in the form of a 5% increase in the cost of taxable goods and services they purchase in the UAE.
Feel free to contact us for appointments, enquiries, quotations and for addressing your queries, if any..