#VATinUAE

[simplysolvedagency]

UAE VAT Registration Guide For 2023

In the United Arab Emirates (UAE), VAT is a consumption tax that is levied on most goods and services sold in the country. If your business is based in the UAE or you are planning to start a business in the UAE, you may need to register for VAT if your taxable supplies and imports exceed a certain threshold.

To register for VAT in the UAE, you will need to follow these steps:

Determine if your business is     eligible to register for VAT. In the UAE, businesses with a taxable     turnover above AED 375,000 per year are required to register for VAT.

Prepare the necessary documents. To     register for VAT, you will need to have the following documents:

 Trade license  

Emirates ID or passport of the business owner(s)  

VAT registration application form  

Submit the VAT Registration application. You can submit your VAT     registration application online through the Federal Tax Authority’s (FTA)     e-Services portal or at an FTA customer happiness center. 

 Wait for approval. Once you have submitted your VAT registration application, the FTA will review your application and determine if you are eligible to register for VAT. If your application is approved, you will receive a VAT registration certificate. 

 Charge VAT on your sales. Once you have registered for VAT, you will need to start charging VAT on your sales at the applicable rate (currently 5%). You will also need to submit VAT returns to the FTA on a regular basis to report the VAT you have collected and any VAT you have paid on your purchases.

It’s important to note that VAT registration and compliance can be complex, and it is advisable to seek the guidance of a professional tax advisor to ensure that you are following UAE VAT regulations.

VAT De-Registration in UAE

In the United Arab Emirates (UAE), businesses that are registered for value-added tax (VAT) may de-register for VAT if they meet certain conditions. To de-register for VAT, a business must first inform the Federal Tax Authority (FTA) and then submit a de-registration application through the FTA’s e-services portal.

To be eligible for VAT de-registration, a business must meet the following conditions:

The business must not have any taxable supplies or imports in the past 12 months.

The business must not expect to have any taxable supplies or imports in the next 30 days.

The business must not have any outstanding tax liabilities or penalties.

If a business meets these conditions, it can apply for de-registration by completing the de-registration application form on the FTA’s e-services portal and submitting it along with any required supporting documents. The FTA will review the application and may request additional information or documentation before deciding on the de-registration.

If the de-registration is approved, the business will no longer be required to charge VAT on its supplies or pay VAT on its imports and will no longer be required to file VAT returns. However, the business may still be required to retain certain records for a period in case they are needed for audit or verification purposes.

VAT Return Filing in UAE

VAT Return filing is a process by which businesses report the amount of VAT they have charged on sales and the amount of VAT they have paid on purchases. VAT returns are typically filed on a regular basis, such as monthly or quarterly, depending on the rules of the country where the business is located.

In the United Arab Emirates (UAE), VAT is administered by the Federal Tax Authority (FTA). Businesses that are registered for VAT must file VAT returns with the FTA on a regular basis. VAT returns must be filed electronically through the FTA’s e-Services portal.

To file a VAT return in the UAE, businesses will need to:

1.    Gather all the necessary documentation, including invoices, receipts, and other records of sales and purchases made during the relevant period.

2.    Use this documentation to calculate the total amount of VAT that has been charged on sales and the total amount of VAT that has been paid on purchases.

3.    Log in to the FTA’s e-Services portal and navigate to the VAT return filing section.

4.    Enter the required information, including the total amount of VAT charged on sales and the total amount of VAT paid on purchases.

5.    Submit the VAT return.

It’s important to note that businesses must file their VAT returns by the deadline set by the FTA. If a business fails to file its VAT return on time, it may be subject to penalties and fines.

[arcauditinguae]

Deadline for submitting VAT returns

What is VAT Return Submission?

Submitting the VAT Returns in uae will be a necessary process after implementing the Value Added Tax. The VAT RETURNS would be filed on a quarterly basis every year. The FTA adopts no manual method.

However, the returns will be filed using the online portal of the Federal Tax Authority. Every taxable person registered with the FTA will have to file the VAT return submission on a quarterly basis within the time specified by the authorities. It is essential to file your business returns timely and accurate to avoid hefty penalties.

Why Choose ARC Associates?

ARC Associates, Auditors, and Consultants in UAE will help the businesses in filing the vat returns to the FTA (Federal Tax Authority). ARC Associates will provide your business with all services and guidance related to the filing of the returns.

[bsw-company-formation-in-uae]

If you own a business and will be carrying out any transactions with other businesses, or serving customers domestically or internationally, then you should know about VAT.

This guide highlights the exciting facts about VAT in the UAE that one should know before incorporating a company in the UAE.

[sabauditing]

Do you know the responsibilities of a Tax Agents in the United Arab Emirates…?

Tax Agents in Dubai play a critical role in helping businesses and individuals comply with tax laws and regulations. SAB Auditing of Accounts provides a comprehensive overview of the role of tax agents in the UAE. Including their responsibilities, benefits, and more.

The role of tax agents in Dubai encompasses a wide range of services. Including registering clients for taxes, and filing, and submitting tax returns on behalf of clients. Providing tax-related advice and guidance to clients. And keeping clients informed of changes in tax laws and regulations. Tax agents also play a crucial role in helping clients avoid penalties and fines. By ensuring that their clients are compliant with tax laws and regulations.

The role of tax agencies in Dubai is critical in helping businesses and individuals comply with tax laws and regulations. While also providing guidance and advice on tax-related matters. By engaging the services of a tax agency in Dubai. Clients can ensure that their tax obligations are met and avoid penalties and fines for non-compliance. Additionally, tax agencies can provide valuable expertise and guidance on tax-related matters. Helping clients plan their tax obligations and make informed financial decisions.

For any Inquiry, contact #SAB:

📧 info@sabauditing.ae

📞+971 56 442 2333

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[masarca]

“A VAT Tax Group can only be formed if the given conditions are met.”

Looking for insights or have questions about VAT Tax? Don't hesitate to connect with us and share your thoughts. We're here to provide guidance and support you every step of the way. Reach out today and let us assist you with all your TAX-related needs. Please Visit Our website for

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[accountantbox1]

Should You Register for Value Added Tax (VAT) or NOT? | Accountant's Box

You must register your business for VAT because then it becomes active in production and sales.

Find out why VAT registration is important? VAT registration helps build credibility and form business relations. We can assist you in registering your company for VAT in the UAE.

This article will help you to understand 1.What is VAT? 2. When should one register for VAT? 3. Our views

You can contact us on :-   Phone : 971-545481521

OR E-mail - contact@accountantsbox.com

Follow us on LinkedIn: https://www.linkedin.com/company/accountantsbox

Subscribe to our Youtube Channel here: https://www.youtube.com/channel/UCEGq4vFSgDuX9lqlCzRPQGw

[kbaaccounting]

Are you facing hefty costs and tax filing issues? KBA provides Tax Filing Services in Dubai UAE, VAT Registration in UAE. VAT Return Filing Services. Certified Chartered Accountants in UAE. 📞 Talk to our Expert consultants: ☎️ +971 4 396 2233 📲/ Whatsapp +971 55 618 2580 📧 info@kbame.com 🌐 https://www.kbame.com/ #KBA #KBAAccounting #KBAME #tax #accountants #accounting #taxation #accountant #uae #finance #accountant #dubai #consultants #taxfiling #taxlaws #taxes2020 #taxaccountant #vatinuae #vat4u #vatrefund #vatregistration #vatreturn #vatreturns #vatservices #taxhelp #taxexperts #taxfacts #taxfiling #taxexperts #taxagents (at Burj Al Arab, Jumeirah Beach) https://www.instagram.com/p/CHZiPOYpXFK/?igshid=1b6jjqlyzistl

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[uaevat]

The Federal Tax Authority has recently issued a public clarification – VATP029 on Gold Making Charge, providing that the suppliers of the gold jewellery are required to pay VAT on the making charges component by charging the same in the invoice, and the same would not be covered under the “special reverse charge mechanism”.

[systrixit]

VAT in the UAE: What You Need to Know!

In this article, we'll take a look at the new VAT rules that went into effect in 2018 and what they mean for you in 2021.

The travel and tourism industry is an important part of the UAE's national economy, contributing Dh130 billion to the national purse on an annual basis.

It is obvious that the implementation of VAT in the UAE and its impact on the tourism industries will be significant.

This article provides general information on the Value Added Tax (VAT), which was implemented in January 2018 (at a rate of 5%), its role in effective fiscal management at the federal level, and the impact it has on individuals and businesses across the UAE.

It is a well-known fact that businesses in the UAE are planning to assess the impact of VAT.

In addition to assisting you with your VAT, Systrix IT can assist you with the establishment of your business.

Read more about how VAT impacts the tourism industry in the UAE.

Find out More: http://bitly.ws/jms4

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[simplysolvedagency]

How to Fill VAT Registration for Freelancer in UAE

VAT for Freelancer's relatively new arrival within the UAE started obviously at the beginning of this year in January 2020. It has far-reaching implications not only for the UAE generally but specifically for the freelance industry.

Specifically, I'm talking mostly about the freelance community that operates within the events and the production industries within the UAE. So it does raise a reminder of some of the challenges that already exist in the freelance world.

 If anything that it does is make the challenges which I'll talk about later but make the challenges that we've already faced within the freelance community.

More obvious more likely to raise their heads and more likely for freelancers to start raising challenges in terms of some fairly basic things like being faced with changes in their visa situation being chipped and faced with and potential changes in their ability to obtain work and which are kind of important things to freelancers.

 Why is it that I'm saying that these changes or have always been there or not are becoming more important or does it that I'm talking about let's start off with what I mean by a definition of a freelancer.

 I mean freelancing is working for you it's the independent contracting option what does that mean from a legality point of view within the UAE. I often get asked is freelancing even legal here well I mean it is legal if you're properly licensed to be operating as a freelance.

 Now there are some options but the options are shall we say challenged from an obtaining trade license point of view within the country and within the various emirates around the basis of operating as a freelancer.

 In other countries that people might be used to the cell protection that the sole practitioner basis is not as easy to do here is, it might be in other areas and still to be legal. There are going to be situations therefore where we are going to have to start looking at things that freelancers tend not to focus on too much.

 This is the type of visa vehicle the type of license that is attached to the kind of operation that they are undertaking as a freelancer.

 How to get the Visa for Freelancers

 The options for getting a visa and a trade license for a freelancer are not perfect and I know that trade associations like Ilia the independent life events Association and also the IAS production forum in the UAE are working hard in talking to the authorities to try to persuade them of a better way of providing visas and trade license sources for freelancers.

But until that happens we have to do our self-fix so what are the options now obviously if you can afford it great go and choose one of the freelance options that are available through DC CA or to 4:54 and then you can also look at setting up your own company problems the obvious one it's costly your

 The second option therefore if you are unsure for example there is certain companies who will provide you with a visa route. I'm not talking about friends visas I'm talking about companies who are within the industry like event lab like Gulf crewing like Simply Solved who will be able to talk to you about visa options.

 Now there are ramifications of doing that kind of or going that kind of route in that you will be putting your jobs through those kinds of companies in effect. But it's worth talking to those kinds of industry-based companies about the solutions that they can offer you, particularly where they're working on the shore.

 Your other option is again self-health itself things if you're setting up your own company. You in effect are going to be able to create a trade license that's going to allow you to do what you want within your industry.

 Many people normally will say as a freelancer I can't afford to set up a company and normally that would be true but if you look at clubbing there are certain ways of getting people together and then going to set up a company together.

 What you're doing there in effect is reducing the cost that otherwise an individual would care about their own. It isn't a perfect solution but it is solutions you can massively reduce the cost that you carry on your own and it, therefore, makes it a viable solution to be able to set up a company get your trade license go in VAT register.

 So that when your procurement department on a job asks you for a VAT registration number you can actually provide them one and then you can sort out amongst yourselves.

 How you are going to do your accounting and so on and then you run under the usual trade names that you operate in the marketplace it is a doable way of operating it does give a solution.

 So there are ways of doing things we don't live in a perfect world so far as the freelance market is concerned.

[arcauditinguae]

VAT Returns Submission Deadline Announced by FTA

FTA Announces Final Deadline for submitting VAT Returns: After implementing the Value Added Tax, submitting the VAT Returns will be necessary. The VAT RETURNS would be filed every quarter of every year.

Visit ARC Associates to submit VAT Returns in Dubai, UAE.

[sabauditing]

FTA Approved Tax Agent in UAE: SAB Auditing of Accounts

A tax agent in the UAE is a professional or firm that provides tax-related services to businesses or individuals. The tax agent assists the client in meeting their tax obligations. Such as filing tax returns, making tax payments, and responding to tax notices. In Dubai and the UAE, a tax agent must be approved by the Federal Tax Authority (FTA) to operate legally. The FTA is the regulatory body responsible for administering tax laws in the UAE.

A tax agent in UAE is a professional or firm that provides tax-related services to businesses or individuals, and to operate legally in Dubai and the UAE, they must be approved by the FTA. The approval process involves meeting specific criteria set by the FTA and undergoing a background check.

For any Inquiry, contact #SAB: 📧 info@sabauditing.ae 📞+971 56 442 2333 🌐 https://sabauditing.ae

[blogericaposts-blog1]

An individual whose turnover exceeds AED 375,000 is required to register in UAE VAT and a person whose turnover exceeds AED 187,500 is allowed to apply for voluntary registration. A unique number is provided by the authority known as the tax registration number for each person who has registered for VAT. Simply put, it’s called TRN. Through this number, the authority recognizes or identifies you.