Zakat and Income Tax Services
Commercial establishments face many challenges to achieve profits and operation continuity, which is not an easy task, since tax laws have become more complex, commercial establishments within the borders of one country must work on tax planning from the early stages.
Decart® tax and Zakat consulting team is comprised of experienced professionals who provide advice on creating and implementing tax planning opportunities to reduce income tax burdens and benefit from all tax concessions.
Our services in this field include:
• Register and prepare companies and individuals to operate according to tax systems.
• Fill up and submit self-assessment statements of companies and individuals’ income and deliver them on time to avoid any fines that may arise on the customer.
• Follow-up all transactions at the income and sales department or Authority of Zakat and clear customer’s responsibility at the department.
• Provide tax consultations for the financial department
• Represent customers before the department, follow-up with the department auditors, be present during their visits at all stages and make objections if necessary, in addition to avoid any additional amounts by exploiting all legal privileges.
2-2- Sales Tax /VAT Services.
Decart Tax team is a professional team on all levels with regards to the details of value add tax(VAT).
As our team includes employees of previous experiences in the income and sales tax / VAT and Zakat field that reaches more than 20 years, we are ready to provide this service anytime and with different challenges; whereas we have the proper experience and techniques to conduct that task, which saves in time, effort and tax risks upon our clients in addition to the complete awareness of the tax planning process, which also saves in the tax costs through the proper planning of the client.
Decart team includes long-standing experiences from the first Arab country to implement VAT (value-added tax) system, which was applied in Jordan in 1994 In addition to that, Weare consultants formajor accounting and auditing companies in the Kingdom of Saudi Arabia beginning with the implementation of the VAT system in 2017.
Our services in this field:
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.
The compliance process includes studying the activity of Enterpriseand providing awareness and guidance to financial management
Companies and institutions are often unaware of VAT legislation and policies that are constantly 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 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.
Registration of companies, institutions and entities subject to value added tax at the specialized authority to achieve the requirements of the registration process and its compliance with the regulations and rulings.
4.Post-registration services including:
- Filling / auditing VAT endorsements/ 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 them to the specialized authority within the legal period and following up the claim within the VAT endorsementfor 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 Endorsement
Weprovide VAT Endorsementauditing with the purpose of verifying its correct calculation.
In addition to analyzing these statements with special programs.
6.Attendance and following up field auditing works
AtDecart Tax®, we recognize the importance of being present with the client’s financial department when VAT officials are auditing the VAT endorsements. Our team possesses the ability to discuss their notices on VAT endorsements 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 differences 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.