Last Updated on March 31, 2024 by Ali Hamza
We help companies with registration and VAT refund in the United Arab Emirates
VAT registration in the United Arab Emirates
Value Added Tax (VAT) is levied on the purchase/sale of taxable goods and services in the UAE. Currently, the standard VAT rate in this country is 5%. A VAT-registered company collects VAT on behalf of the UAE Federal Tax Authority (FTA) and is therefore entitled to recover VAT paid on expenditure incurred on goods/services for the company.
Verification of TRR or verification of TRL or VAT verification of TRL or verification of VAT in the UK?
As part of VAT registration in UAE, we also ensure that the VAT net positions of taxable businesses are correct and within the limits of UAE law. A business in Dubai, Sharjah or anywhere else in the UAE has a maximum period of twenty-eight (28) days to file VAT returns by the end of the tax period. This limited time makes it extremely difficult to submit accurate records, especially for businesses and companies with a huge volume of transactions. The same applies to VAT groups.
VAT accounting
VAT accounting is relatively new for businesses in the UAE, as VAT has only recently been implemented. A company registered in the UAE for VAT purposes that does not keep and submit VAT records will be fined USD 10,000. In case of a repeat offence, a fine of 50,000 USD will be imposed. Our tax agents in the UAE provide VAT accounting services to make businesses immune from tax violations and penalties. We offer VAT accounting assistance within VAT Registration Services In Dubai, Sharjah or anywhere in the UAE.
VAT recovery
All companies registered in the UAE are required to file a VAT return and must provide details of input VAT paid and output VAT paid during a tax period. Output VAT is charged on sales, whereas input VAT is paid to a company’s supplier. If the output VAT is higher than the input VAT paid, the balance must be paid by the company registered for VAT with the federal tax authority.
Non-registration or cancellation of VAT
Cancellation of VAT registration is mandatory under UAE VAT legislation when taxable businesses no longer exist or no longer make taxable supplies. VAT deregistration in the UAE includes deregistration for VAT purposes and cancellation of a company’s tax registration number (TRN). Once a business ceases trading, the FTA can cancel its registration for UAE VAT purposes if it is satisfied that it has stated the reason or reasons.
Regulated tax agent services
Appointing the UAE VAT Registry as a regulated tax agent allows you to receive updates on the latest changes in legal provisions, eliminating the possibility of fines and penalties for non-compliance. As a taxpayer, you need help with tax planning and compliance. Our VAT experts will not only keep the financial books and records for you, but will also represent you on your behalf about UAE registration and VAT returns.
VAT registration in Dubai
The UAE has always offered the world great monetary and investment opportunities. The UAE is a key investment hub admired by passionate entrepreneurs around the world. It is developing and progressing on many fronts and is heading towards incredible achievements. In this context, Value Added Tax (VAT) was implemented in the UAE in 2018 as it will ultimately benefit everyone living here.
