Sharjah Chamber of Commerce hosted joint seminar of First BIT & Emirates Chartered Accountant Group on VAT accounting & tax audit for imports & exports
More than 140 specialists attended the event where qualified experts in the field of international taxation, VAT and management accounting spoke about the latest changes in the Tax legislation in the UAE and introductions of 2019. These professionals included participation of accountants, financial managers, business owners, and high-level executives.
Lectures were provided to enhance the knowledge of businesses on VAT accounting for import & export transactions in the UAE. The CEO of Emirates Chartered Accountants group, Mr. Manu Nair, and the Solution Architect of First BIT, Mr. Pavel Zhgulev remarked the importance of VAT compliance for import and export transactions. The wide array of topics covered during the seminar include:
• Specifics of VAT accounting for import and export transaction in UAE companies.
• Import taxable goods into the mainland UAE.
• VAT accounting for foreign exchange transactions.
• AED conversion rates, with a focus on the as-of date (upfront payments, shipments).
• VAT calculation for consignment sales.
• Tax audit by FTA.
Common mistakes in 2018. How to avoid fines in 2019.
• Accounting requirements under UAE VAT law.
• How ERP software can help trading businesses.
A special offer was given exclusively for seminar participants, where they get free consultation and data migration when they buy the software.
For those who missed the seminar, feel free to contact our specialists at +97144396900 or like our Facebook Account “First BIT UAE” for more updates on future events.