What are the common tax risks in construction?
Long-running construction contracts, retention monies, contractual variations, milestone disputes, and subcontractor tax compliance documentation.
Construction: tax, VAT and accounting in the UAE
Main contractors, specialized subcontractors, civil engineering firms, and project developers managing large-scale infrastructure and commercial projects.
What are the accounting issues?
Percentage-of-completion revenue recognition, work-in-progress (WIP) schedules, cost allocation by project code, and defect liability provisions.
What are the VAT issues?
Timing of supply rules for continuous supplies, retention treatment upon release, and input-tax support documentation across multi-tier contract stages.
What are the Corporate Tax issues?
Contract profit recognition timing, deductible-cost support for site expenses, and multi-entity joint venture tax structures.
What are the e-invoicing implications?
Progress billing alignment, retention credit notes, and project-level customer data integration in ERP systems.
What does Regent do?
Regent builds project-level reporting frameworks, reviews VAT and CT treatment by contract, and prepares robust audit files for FTA review.