VAT Registration

Registration formalities can be confusing and tedious process. We can assist you to ensure that the registration process goes smoothly and without hassle.

• We assist you in making the right decision about registering for VAT i.e. registering in the right category (mandatory or voluntary), when to register (now or later) etc.

1. Mandatory Registration – If the value of taxable supplies exceeds AED 375,000 in previous 12 months OR if the taxable supplies are expected to exceed AED 375,000 in the next 30 days, it is mandatory for the business to register for VAT.
2. Voluntary Registration – If the value of taxable supplies or taxable expenditure exceeds AED 187,500 in previous 12 months OR if the taxable supplies or taxable expenditure are expected to exceed AED 187,500 in the next 30 days, it is mandatory for the business to register for VAT.
   What is Taxable supplies?
   A supply of Goods or Services for a Consideration by a Person conducting Business in the State, and does not include Exempt Supply.
   • VAT Application – We assist you with the application filing, preparation of financial information and documentations such as proof of 12-month sales, value of import for one year etc. We ensure that the entire process of registration is carried out smoothly.
   • Update Documents and Systems – We assist to update your systems and documentations as a result of VAT registration process such as incorporating input and output taxes, accurate bookkeeping and accounting records etc. We are here to help to update your accounting systems.

VAT Implementation

We assist you to be in compliant with the VAT laws and regulations in the UAE
• Invoicing under VAT – Our team will assist/guide you in the preparation of invoices in compliance to the set requirements of UAE VAT Law.
• Calculating and Paying VAT – Our experienced team will assist you in calculating accurate VAT computation. Report the VAT paid for your supplies , VAT to be charged for your sales and actual VAT dues to be paid to the government.
• Record transactions – We will record your input and output taxes in an organized manner. Ensure that all business transactions are recorded in accordance to the VAT laws and regulations. These records will be accessible and readily available when required.

VAT Return Filing

We assist you with filing VAT return accurately and timely. A tax return documents all the sales and purchases you made during a particular tax year. In the UAE, VAT return filing is done to the Federal Tax Authority within 28 days from the end of the tax period, along with any tax liabilities you might have needs to be paid. Delay by any tax payee in filing tax return will be penalized by the tax authority.

What is Tax Return?
VAT return is the summary of supplies and purchases made by the business during the tax period. VAT return must be submitted to the Federal Tax Authority within 28 days from the end of the tax period. Payment for tax liability should also be made within these 28 days.

• Output Tax Filing – We assist with filing tax liabilities (5% standard rate for supplies) such as liabilities on imported goods that were declared via UAE customs and liabilities on services. We incorporate exempt supplies and the tax refunds provided to tourists under the tax refunds tourist scheme.
• Input Tax Filing – We assist with filing the input tax which includes tax (subject to standard rate of tax) on purchases, expenses, import of goods and services. The tax amount calculated under Output Tax over and above the Input Tax is the amount that is paid to the FTA.

VAT Refund Claims

We assist you with the filling of tax refund claims.

What is Tax Refund?
When the input tax is greater than the output tax , the taxpayer can request a VAT refund after filing of VAT return.
Timeline for refunds
When a taxpayer submits a claim for refund, the FTA will process and review the application within 20 business days of submission. The taxpayer will be notified regarding the FTA’s decision to accept or reject the claim. If the process exceeds the timeline of 20 days, the FTA will notify the taxpayer regarding the extension of the deadline

VAT Refund form
The VAT refund form contains the following fields:
• TRN (Tax Registration Number)
• Total amount of Excess Refundable Tax (in AED)
• The amount you wish to have refunded (in AED)
• Remaining amount of eligible Excess Refundable Tax
• Late Registration penalty amount (in AED)
• Authorised Signatory and Declaration

VAT De-Registration(cancellation)

We will assist in the VAT Deregistration process.

VAT Deregistration is a process where the registered companies are required to cancel their VAT registration with the FTA. The deregistration process becomes mandatory when the taxable company ceases its operation or the requirement of VAT registration is no longer needed. Businesses and individuals who are registered under Federal Tax Authority (FTA) can de-register from VAT in two situations:

• If their turnover did not exceed AED 187,500 in the 12 months after registering with the FTA, they must apply for the VAT Deregistration.

• If the business stops making taxable supplies then they have to apply for VAT deregistration.

If a tax registrant applied for Voluntary registration on January 1, 2018 and after 12 months (on December 31, 2018) if the business has not made taxable supplies equals to AED 187,500, the business shall analyze and evaluate if it’s taxable supplies will exceed within the voluntary threshold (AED 187,500) in the next 30 days (ending January 30, 2019) then they can apply for VAT Deregistration in the next 20 days.