Tax Compliances & Accounting Made easy for Online sellers
Subject Matter experts who adds value to your business – we partner with you in your growth.
Subject Matter experts who adds value to your business – we partner with you in your growth.
Multi Nation Ecommerce business often encounters with tax compliances requirement of multiple countries. Instead of struggling to keep up, you need a specialist to help in local tax compliances.
Non-compliance may lead to a hefty penalty from the Government or losses due to wrong decisions and unexpected scenarios.
As experienced, qualified professionals, we understand the tax and financial requirements in the UAE, KSA and India and have seen the losses that can occur through non-compliance.
We’ve helped our clients in their taxes compliances and managed their financials, assisted them in making informed decisions, helping them save money and maintain reputations.
Step 01.
Select your service requirements and plan by selecting your plan on this website.
Step 02.
We will review your submission and understand your requirements..
Step 03.
We will send you online quotation and payment link. Once paid we will Deliver.
Step 03.
Our qualified and experienced team will ensure on-time delivery of the agreed solution.
Value Added Tax is a consumption tax levied at each stage of the supply chain and ultimately borne by the end consumer.
With effect from January 1. 2018 VAT was introduced in UAE.
VAT is a transaction-based indirect tax that is levied at each step of the supply chain. End consumers generally bear the VAT cost while registered businesses collect and account for the tax, acting as a tax collector on behalf of the Federal Tax Authority.
VAT is used in more than 180 countries around the world. All OECD countries except for the US have VAT (or a variation). While it feels the same as a general sales tax to end-consumers, VAT is a more sophisticated tax and overcomes many challenges that affect the general sales tax.
Online sellers selling goods online through various e-commerce platform stand in equal footing as a seller selling goods through his/her retail or wholesale store.
It is essential to understand that most e-commerce platforms (also called market place) may provide warehousing, order collection, and delivery.
These platforms never take ownership of the goods, nor neither they negotiate the price on behalf of the sellers.
Hence, each online seller conducts his business in his principle capacity and is liable to assess himself for VAT compliance requirements and adhere to such compliance.
Online e-commerce platform provides global business to sell their goods anywhere in the world. A large number of sellers are Non-Resident in UAE.
So what are the compliance requirements for such Non-resident sellers and Resident sellers?
Value Added Tax is a consumption tax levied at each stage of the supply chain and ultimately borne by the end consumer.
With effect from January 1. 2018 VAT was introduced in KSA.
VAT is a transaction-based indirect tax that is levied at each step of the supply chain. End consumers generally bear the VAT cost while registered businesses collect and account for the tax, acting as a tax collector on behalf of the Federal Tax Authority.
VAT is used in more than 180 countries around the world. All OECD countries except for the US have VAT (or a variation). While it feels the same as a general sales tax to end-consumers, VAT is a more sophisticated tax and overcomes many challenges that affect the general sales tax.
Online sellers selling goods online through various e-commerce platform stand in equal footing as a seller selling goods through his/her retail or wholesale store.
It is essential to understand that most e-commerce platforms (also called market place) may provide warehousing, order collection, and delivery.
These platforms never take ownership of the goods, nor neither they negotiate the price on behalf of the sellers.
Hence, each online seller conducts his business in his principle capacity and is liable to assess himself for VAT compliance requirements and adhere to such compliance.
Online e-commerce platform provides global businesses to sell their goods anywhere in the world. A large number of sellers are Non-Resident in KSA.
So what are the compliance requirements for such Non-resident sellers and Resident sellers in KSA?
A non-resident Person in the Kingdom must apply to the Authority for registration within thirty (30) days of the first Supply on which that Person was obligated to pay Tax.
The VAT registration process first requires registration of the Taxable Person with GAZT and the issuance of a TIN. Non-Residents should appoint a tax representative, approved by GAZT, to act on its behalf in respect of their VAT obligations in the KSA.
GST is known as the Goods and Services Tax. It is an indirect tax that has replaced many indirect taxes in India, such as the excise duty, VAT, services tax, etc. The Goods and Service Tax Act was passed in Parliament on 29th March 2017 and came into effect on 1st July 2017.
In other words, Goods and Service Tax (GST) is levied on the supply of goods and services. Goods and Services Tax Law in India is a comprehensive, multi-stage, destination-based tax levied on every value addition. GST is a single domestic indirect tax law for the entire country.
Like a normal retail shop or wholesale business, an online seller is also mandated by the GST regulations to register and comply with GST.
Any business with a turnover of more than 20 lakhs rupees in the financial year should register for GST in India and comply with its requirements. The same applies to an online non-resident or resident seller.
We assist online sellers with all the GST needs:
One of the major challenges for any online seller on any e-commerce platform is understanding the market place’s remittance. An online seller may see his sales growing, but the remittance may not reflect a profitable position.
This poses a big question in front of the seller, is my product really profitable? Should I continue to sell on the specific platform, or should I sell this product?
To Answer those, an online seller should do payment reconciliation.
In the payment reconciliation, you will need to identify:
The reconciliation should not be at the value level. Still, the description level says we have seen cases where the packing charges are misapplied, warehousing fees overcharged and discounted not offered by the seller. In some cases, orders are returned, but the product didn’t come back.
Our Payment reconciliation/ Integrated Accounts will ensure that you have total control over your market place transactions.
We will send you a credit card link to make the payment after submitting the details through the “Get Started”.
We will send you a credit card link to make the payment after submitting the details through the “Get Started”.
Common mistakes to avoid in VAT return that can go without any substantial effort.
Where should we send your free VAT Material??
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The Syndicate Advisors and Consultants LLC
Expert Tax consultants in UAE. Specialized in VAT, ESR and International Taxation.
Phone: +971 (0) 55 917 5564
Landline: +971 (04) 226 3015
Address: Office#15, 4th Floor, Rasis Business Center Building, All Barsha, Dubai 98290, UAE.