L E A Consultants

VAT in UAE & GCC

Value-Added Tax or VAT is a tax on the consumption or use of goods and services levied at the point of sale. VAT is a form of indirect tax and is used in more than 180 countries around the world.

The UAE is considering levying Value Added Tax (VAT) from January 2018. The rate of VAT will be 5 per cent.VAT will provide the UAE with a new source of income which will be continued to be utilised to provide high-quality public services. It will also help government move towards its vision of reducing dependence on oil and other hydrocarbons as a source of revenue.

Implication of VAT on individuals

VAT, as a general consumption tax, will apply to the majority of transactions in goods and services. A limited number of exemptions may be granted. As a result, the cost of living is likely to increase slightly, but this will vary depending on an individual's lifestyle and spending behaviour. If an individual spends mainly on those things which are relieved from VAT, he is unlikely to see any significant increase. The government will include rules that require businesses to be clear about how much VAT an individual is required to pay for each transaction. Based on this information, individuals can decide whether to buy something.

Implication of VAT on businesses

Businesses will be responsible for carefully documenting their business income, costs and associated VAT charges. Businesses that meet the minimum annual turnover requirement (as evidenced by their financial records) will be required to register for VAT. Businesses that do not think that they should be VAT registered should maintain their financial records in any event, in case the ministry needs to establish whether they should be registered. Registered businesses and traders will charge VAT to all of their customers at the prevailing rate and incur VAT on goods/services that they buy from suppliers. The difference between these sums is reclaimed or paid to the government.

VAT in GCC

The UAE needs to coordinate VAT implementation with other GCC countries because she is connected with them through 'The Economic Agreement between the GCC States' and 'The GCC Customs Union'. The GCC has always worked together in designing and implementing new public policies as such collaborative approach is best for the collective development of the region.

VAT Compliant Accounting Software

We offer VAT Accounting software (Accountrak) with inventory management. Other inbuilt modules are accounts receivable , accounts payable and payroll with more than 50 customized reports. Automatic calculation of VAT returns as per FTA rules. This software satisfies all functional requirements as per Federal Tax Authority(FTA) guidelines.

Some of the key features of this accounting software are:

Management of income and expenses
Invoicing customers with professional, and customizable invoices
Accurate reconciliation of bank statements with accounts
Automatic calculation and generation of VAT returns
Auto generation of FTA audit file

play our video

Play video

Our Services

Our global network have been advising and implementing strategies to help organizations comply with their VAT obligations and reduce VAT liabilities and particularly for clients without full VAT recovery.
Identification of relevant VAT law clauses.
Impact assessment of VAT on the current accounting cycle.
Impact assessment of VAT on Procurement & Supply chain.
VAT coding of accounts payables & receivables.
VAT impact on the Contracts.
Giving VAT Training Certificates.
VAT consultancy under the name of Leading Edge Alliance Tax Consultants.

Compnay Incorporation

LEA Consultants Offering the best and fastest service in UAE for New company incorporation, Renewals and Liquidation.

Whether you want a start a new company or a branch office, A main land company or free zone company, LEA Consultants have a solution for you.

We understand that each client’s requirements are different and unique to them and we always provides the best solution to our customers.

UAE has currently 40+ Free Zones and each free zone has different activities that are being promoted in that particular free zone.

We not only guide our customers to the best options but also help them complete all formalities and procedures so that the complete process is as easy as possible

We are doing company incorporation for the following free zones

Sno	Free Zone	Region	F.ZONE MAIN ACTIVITY TYPE	Description
1	SAIF ZONE	Sharjah	Mixed-use	SAIF ZONE- the oldest, largest and fastest growing free trade zone in the Middle East. It is the premier business and investment destination in the world due to its reputation, strategic location, streamlined processes, efﬁcient services and cost effectiveness. With every detail thoughtfully structured and robust service support, we provide plenty of opportunities to connect and collaborate so you can focus solely on growing your business.
2	HFZA	North, Port	Port, Maritime, Logistics, Oil & Gas	Established in 1995 by Emiri Decree, Hamriyah Free Zone Authority is ideally located in the Emirate of Sharjah, UAE, offering economically viable incorporation services including modern infrastructure, logistics, investor connectivity and critical operations support for its investors. Thus, encouraging regional, international trade and commerce.
3	RAKEZ	NORTH, Port	Industries, Production type	Situated in the heart of Ras Al Khaimah in the United Arab Emirates, Ras Al Khaimah Economic Zone (RAKEZ) is a powerhouse business and industrial hub that offers customisable solutions to free zone and non-free zone businesses in a multinational community flourishing in over 50 sectors.
4	SHAMS	Sharjah	E-COMMERCE, MEDIA	Sharjah Media City (Shams) was incorporated in January 2017 with an aim to act as a catalyst for creative and media businesses to flourish. Shams is a world-class media hub of innovative facilities and services. The free zone covers a wide array of business activities available for investors aspiring to embark on their entrepreneurial journey in the Middle East. The process to set up a business in Shams is similar to that in any other free zone in Sharjah, owing to the Emirate’s business-friendly laws and state-of-the-art infrastructure. Shams is a robust environment for media business and issues licenses to business entities, freelancers and entrepreneurs planning to set up a business.
	DMCC	Dubai	Commodity Trade	Here in the heart of Dubai, at the centre of the Jumeirah Lakes Towers district, you will find all you need to live, work and thrive. Made for Trade, DMCC has everything to set up, grow and build your business. Eight times crowned ‘Global Free Zone of the Year’ by the Financial Times fDi magazine, it is home to a vibrant community, innovative infrastructure, world-class services and a stunning choice of properties, all minutes from excellent air, sea and road links to the world.
5	DAFZA	DUbai	multinational, regional offices, various	Dubai airport Freezone was established in 1996 and is a dynamic business hub located at the very heart of global trade. Benefitting from direct access to the world’s busiest international airport, DAFZ offers the ideal gateway to the Middle East and also unrivalled connectivity to Europe, the Indian Subcontinent and the Far East. DAFZ is now home to more than 2300 registered businesses from over 20+ sectors and various industries
6	DIFC	Dubai	financial	A vibrant business ecosystem of over 29,700 professionals working across more than 4,000 active companies that benefit from the centre’s robust independent judicial system and regulatory framework, a global financial exchange, inspiring architecture, and enabling support services. The DIFC district features ultra-modern office spaces, retail outlets, cafes and restaurants, art galleries, residential apartments, public green areas and hotels, making it the ultimate destination where business meets lifestyle.
7	JAFZA	Dubai	Industries, Production type	Jebel Ali Free Zone (Jafza) is the flagship free zone of DP World, and is an integral part of the DP World UAE Region’s integrated business hub. The free zone has evolved into a trade catalyst and a smart business community that offers unprecedented growth opportunities and market access.
8	IFZA	DUbai	Various, offices	IFZA Dubai offers businesses more than a Free Zone. We are a community where entrepreneurs and businesses are motivated to create, inspired to succeed, and enabled to become part of an ever-evolving ecosystem in one of the world's most forward-thinking locations.
9	DUQE	Dubai	Various, offices	DUQE is the free zone for innovators and disruptors that want their business setup done better. Based on the Queen Elizabeth 2 (QE2), one of the most famous cruise ships of all time, DUQE is not like any other free zone in Dubai. It is anything but boring.
10	DTWCA	Dubai	Events, Trading, etc.	Nearly forty years after its inception, Dubai World Trade Centre continues its story of growth with a dynamic new free zone, established in 2015. DWTC Authority provides a unique and highly desirable proposition for businesses seeking a competitive and well-regulated ecosystem to compete even more effectively regionally and globally.
11	KIZAD)	Abu Dhabi	Industrial Activities	KEZAD Group is the UAE’s largest operator of fully integrated economic zones, business services, staff accommodation and industrial real estate solutions. The Group is committed to creating competitive business ecosystems that encourage sustainable growth, through an open, agile, and integrated environment. This attracts foreign and local investment to Abu Dhabi by offering market access, low operating costs, and ease of doing business both regionally and globally. The 12 economic zones under KEZAD Group are located in Abu Dhabi, Al Ain and Al Dhafra, and provide world-class transportation infrastructure together with multimodal connectivity by road, sea, air, and future rail networks. The zones offer 100% foreign ownership, 100% repatriation of capital and profit, the potential for duty-free trade within the region, and advanced technology platforms that bring together the port community systems with the economic zones. These exclusive offerings allow both clients and partners to be more competitive in an ever-changing global environment.
12	Masdar City Free Zone	Abu Dhabi	Renewable Energy	Masdar City Free Zone is a thriving business community located in Masdar City, one of the world’s most sustainable urban developments. It is home to a diverse, innovative and ambitious collection of companies, ranging from start-ups, to SMEs.
13	Dubai Maritime City	Dubai	Maritime Services
14	Sharjah Publishing City	Sharjah		Sharjah Publishing City Free Zone, a subsidiary of Sharjah Book Authority, is the smarter, simpler and faster choice for entrepreneurs and investors looking to set up their business in the UAE. We offer convenience and flexibility with over 1,500 business activities and various types of modern facilities to operate from – making us an ideal business setup platform.
15	Dubai Commercity	Dubai		Dubai CommerCity is the first and leading free zone dedicated exclusively to digital commerce in the Middle East Africa and South Asia (MEASA) region. The free zone is perfectly placed to benefit from the expected digital commerce growth in the region that is outpacing the global growth average.
16	Khalifa Port Free Trade Zone	Abu Dhabi	Trade and Logistics	Khalifa Port Free Trade Zone (KPFTZ), a part of the KIZAD’s world-class infrastructure portfolio, is an advanced platform for trade, logistics, and manufacturing. Boasting a wide portfolio of industries including aluminium, automotive, metals, food processing, pharmaceuticals, and polymer, it has been attracting multiple investors to set-up massive facilities, offering an array of choices for free zone offices, warehouses, and commercial and retail spaces for heavy as well as light industries. Companies leverage on KPFTZ’s excellent connectivity, state-of-the-art infrastructure and value proposition.
17	Creative City Free Zone	Fujairah	Creative Design	Creative City Free Zone Authority in Fujairah specializes in Media, Events, Consulting, Education, Communication and Marketing, Music and Entertainment, Design and Technology complementing existing media clusters in the region and facilitating further creativity in these fields.
18	Ajman Free Zone		Trade
19	Fujairah Free Zone	Fujairah	Trade and Logistics	Fujairah Free Zone is adjacent to the Port of Fujairah. Companies established here have easy access to all Arabian Gulf ports, the Red Sea, India and Pakistan on weekly feeder vessels. Mainline services arrive from Northern Europe, the Mediterranean, Far East and North America on a weekly basis, and services leave twice weekly to the Far East and once a week to North America. Fujairah Free Zone is also close to Fujairah International Airport which is the only airport serving the UAE East Coast as well as northern Oman.A fortunate combination of geographic location, with access to world's major shipping routes, a fine port & airport, and streamlined procedures, make the Free Zone of Fujairah an ideal place for business.
20	Dubai South	Dubai	Artificial Intelligence and Futuristic Activities	Dubai South is Dubai’s largest single urban master development focusing on an aviation and logistics ecosystem that houses the world’s largest airport when fully operational complemented by a multi-modal transport infrastructure connecting air, land and sea. Positioned as a global transport hub and major contributor to the economic growth of Dubai and the United Arab Emirates, Dubai South offers business-friendly free zone benefits and a living environment with a diverse range of residential homes and apartments to suit different lifestyles.
21	Dubai Design District	Dubai	Creative Design	Welcome to Dubai Design District (d3), a space where the world of design, art and fashion co-exist, where you’ll be inspired to discover new perspectives and change the ordinary to the extraordinary. We are the region’s first and largest design district playing home to the biggest global, regional and local brands within the art, design and fashion industries. We not only welcome, but enable disruptive thinking to create a world of endless possibilities through their beautifully designed spaces and unique community offerings.
22	Dubai Science Park	Dubai	Scientific Research	Dubai Science Park is an enabling environment that fosters development in the medical, wellness and pharma sectors, with medicine, perfumery and F&B labs manufacturing products locally. The community’s robust infrastructure and collaborative environment enable success, in addition to a vibrant community, which provides a supportive ecosystem for its residents.
23	international Humanitarian City	Dubai	Humanitarian Hub	The International Humanitarian City is the only non-profit, independent, humanitarian free-zone Authority hosting a community of around 80 members comprised of UN organisations, non-profits and non-governmental organisations, in addition to commercial companies. The International Humanitarian community in Dubai consists of about 500 people representing more than 68 nationalities.
24	Dubai Outsource City	Dubai	eCommerce and Support Services	Dubai Outsource City is a unique business community dedicated to outsourcing and shared service businesses, such as call centers, data centers, and back-office operations. We offer a vibrant multicultural working environment in addition to commercial spaces customized to all business types and business set up operational support such as business licenses, registration, work visas and much more. Our aim is to support the growth of this industry and establish Dubai as an international hub for outsourcing and shared services.
25	Dubai Silicon Oasis	Dubai	Technology,Mixed-use	Dubai Silicon Oasis is a globally recognized free zone and an integrated technology park that allows people to live, work, and play. Hosting modern technology based industries and an urban master-planned community in an iconic location, DSO offers state-of-the-art infrastructure and in-house business services
26	Abu Dhabi Airports Free Zone	Abu Dhabi	Mixed use	Abu Dhabi Airports Free Zone operates Airports' Free Zones, a Logistics Park, Business Parks, Business Centers and One Stop Shop Services. Its jurisdiction spreads across more than 10.6 Km2 around Abu Dhabi International Airport covering five commercial districts: Logistics Park, Business Park, Destination Village, Al Falah District and Airport City.
27	Abu Dhabi Global Market	Abu Dhabi	Financial Hub	Abu Dhabi Global Market is an award winning international financial centre located in Al Maryah Island and consists of three independent authorities – the Registration Authority (RA), the Financial Services Regulatory Authority (FSRA) and ADGM Courts. Operating in line with international best practices through its transparent and pioneering regulatory frameworks, business-friendly operations, application of English Common Law and independent legal jurisdiction and its well-established local and international strategic partnerships, ADGM provides exceptional service and opportunities for its business community to thrive.
28	Dubai Internet City	Dubai	Tecom-Technology,Mixed-use
29	twofour54	Abu Dhabi	Media	Named after the geographic coordinates of Abu Dhabi, symbolic of our goal to put Abu Dhabi on the map as the capital of content creators, twofour54 was launched in 2008 to accelerate Abu Dhabi’s media industry. This dynamic media zone provides the infrastructure and services to attract international, regional, and local media businesses. It offers everything from customizable office space, world-class production facilities and services, talent development initiatives, and training to business support services.
30	Umm Al-Quwain Free Zone	Umm Al-Quwain	Mixed-use	Umm Al Quwain Free Trade Zone (UAQ FTZ) is located in Umm Al Quwain, a friendly, progressive and prosperous emirate with modern infrastructure. Renowned for its desert landscape and unique flora and fauna, it is also a popular leisure destination within the United Arab Emirates (UAE) and is located just 45km from Dubai. Umm Al Quwain Free Trade Zone is a fast-growing logistics and business hub in the UAE with a strategic location and investor-friendly rules and regulations.
31	Ajman Media City Free Zone	Ajman	Media	Ajman Media City Free Zone is the latest free zone offering in the United Arab Emirates, in the city of Ajman. It has been formed with an aspiration to create a dependable, harmonious and a professional environment for businesses and individuals alike.
32	Meydan Free Zone	Dubai	Mixed-use	For new businesses looking to establish or expand, Meydan Free Zone offers efficient, seamless, and cost-effective startup options to set up and run their businesses in Dubai successfully. You can work from a premium location overlooking the racecourse inside the 5-star Meydan Hotel, or network from any of our golf and tennis clubs, or spend your evening in a relaxed atmosphere from our spas or fine dining restaurants with your family.
33	Dubai Healthcare City	Dubai	Healthcare	The Dubai Healthcare City (DHCC) free zone, established in 2002, brings together core healthcare services, attracting the best in class global and regional names, as well as a network of businesses from hospitality to consultancies and retail outlets. DHCC is governed by Dubai Healthcare City Authority (DHCA) which provides an enabling ecosystem that facilitate business set-up.
34	Dubai International Academic City	Dubai	Tecom-Academic
35	Dubai Production City	Dubai	Tecom-Media
36	Dubai Studio City	Dubai	Tecom-Media
37	Dubai Media City	Dubai	Tecom-Media

Our Team

Syed Asif Zaman - CEO ACA(Eng.& Wales), ACA (Pak), FPFA, AAIA, CISA, MBA, B.Sc.

Over all more than 23 years’ experience including 14 years in UAE. He is a fellow member of the Pakistan Institute of Public Finance Accounts (FPFA), Associate member of the Institute of Chartered Accountants of Pakistan (ACA).

Associate member of Institute of Chartered Accountants in England and Wales (ACA), Associate member of the Association of International Accountants- UK (AAIA), Associate member of Information Systems Audit & Control Association (ISACA) and holds Master degree in Finance & Accounting (MBA).

He has an extensive work experience in local as well as in international market. A Public Speaker on Value Added Tax in UAE & KSA.

Currently he is the Managing Partner of the firm he also holds position as CEO of L E A Consultants.

He is elected Chairman of the Institute of Chartered Accountants of Pakistan (ICAP) -UAE Chapter (2016-2018). Member of Pakistan Business Council and Canadian Business Council Dubai and Northern Emirates.

Shafiq UR Rehman - Director FCPA, FCCEA, MBA

He is fellow member of Institute of Certified Public Accountant of United Kingdom and Pakistan and Fellow member of Certified Corporate Executive Accountant (USA), Associate of Financial.

Accountant (UK), Certificate in IFRS(ACCA), IPA (Australia), Member of IFA, Certificate in USA Federal Taxation(Devry University) and holds Master Degree in Business and Administration.

He has over 20 years diversified experience in UAE/Pakistan in financial accounting & financial management, internal & external Auditing. He has worked as Financial Advisor of Hamdan Bin Mohammad Heritage Centre in Dubai-UAE

Alia Noor - Director CIMA, FCMA, MBA

Alia Noor has two decades of professional experience in providing advisory services in the fields of Finance, Value Added Tax (VAT) , Economic Substance Regulation (ESR) , Audit and Fintech to diversified industries including FMCG, Hospitality, Aviation and others in Pakistan and Gulf states.

She was amongst the early trend settlers advising & supporting the Dubai Airports in VAT implementation. She has been associated with EY and Unilever Pakistan for external and internal audit. In field of management consultancy Alia has provided solid advisory services to businesses on maximizing financial performance & growth , undertook business evaluation and feasibility studies.

Alia Noor currently hold a set of professional qualifications, CIMA, FCMA and MBA along with Certifications in Oxford Fintech Programme, Digital Mindset, COSO Enterprise Risk Management, COSO Internal control and GCC VAT Diploma.

She is founder and owner of “xpertsleague” a free learning platform. She is a veteran Keynote Speaker, Author and Trainer of Fintech, VAT, Audit, ESR and Personal Development. She has conducted Several training Workshops & Seminars for professional bodies such as ICAEW, ICMAP, CPA, Skyline university Sharjah and Dubai Business Breakfast.

She also holds position of Associate Partner in Ahmad Alagbari Chartered Accountants & Director Program at Alif Technologies.

“Fix the roof when the sun is shining”

Welcome to L E A Consultants

Welcome to L E A Tax Consultant

About L E A Consultants