VAT

Have Your Business Registered for VAT in a Few Simple Steps!

VAT registration is a 100% online process. VAT Registration makes a business eligible to collect VAT. The Federal Tax Authority of United Arab Emirates is the relevant authority overseeing the VAT Implementation and compliance in UAE.

We at SKM Global helps businesses in getting VAT registration in UAE by making an application with Federal Tax Authority on their behalf. we will guide you with all the documents and information that you need for getting registered.

VAT Registration in UAE

Sales AED 375,000 in last 12 months

Must register for VAT within 20 business days.

Sales AED 187,500 in last 12 months

Voluntarily register for VAT

Types of VAT Registration

A) Mandatory VAT Registration

Any business is require to get register if they fall into the following classifications:

For over the 12-month period, the taxable supplies of the business go beyond the mandatory registration threshold.
The business also expects to make taxable supplies in the next 30 days that will have a value that is more than the mandatory registration threshold.
The amount of mandatory registration threshold is AED 375,000.

B) Voluntary VAT Registration

Any business that doesn’t meet the mandatory registration criteria and falls into the following classifications may opt for a voluntary registration:

In the previous 12-month period, their taxable supplies or taxable expenditures are worth more than the voluntary registration threshold, or
The business expects for their taxable supplies or taxable expenditure for the next 30 days to be worth more than the voluntary registration threshold, or
The amount for the voluntary registration threshold is AED 187,500.

VAT Return Filing Services In Dubai UAE

The VAT Return Filing Dubai UAE is a mandatory procedure for all taxable businesses. Once you are registered for VAT in UAE, you must file your VAT return as per the tax period allocated for your business. The return filing period will be disclosed on your VAT certificate.

The related VAT liability payments must be made within 28 days after the end of the tax period. In that case, the company will be subject to VAT fines and VAT audits if non-compliance continues.

Consequences of Non-Compliance with UAE VAT Return Filing Requirements

Failing to comply with the laws regarding the UAE VAT Return filing will attract hefty penalties from the FTA. Some of the major VAT administrative penalties related to the tax return filing are:

Failure to File UAE VAT Return on Time.
A penalty of AED 1,000 will be slapped on the VAT registrant who fails to file VAT Return on the stipulated timeframe fixed by the FTA. Further, the VAT registrant will be liable to pay a penalty of AED 2,000 in case of repeating the offence within 24 months

VAT Audit

By doing a VAT audit, the government will check to see if the business is following all VAT rules and using VAT in accordance with FTA regulations. By doing the VAT audit in the UAE, FTA will look at the taxpayer’s VAT returns and VAT rebates. We know how tough it will be to look into the FTA VAT check. We will do a VAT health check on your business and point out some of the most important things: Usually, the VAT audit looks at the following:

Look over and test all of your financial records.
Check a sample for the most usual mistakes.
Uses statistics to look at VAT reports.
Use a sample VAT return to make sure that all the forms are filled in with correct numbers.
Matching your VAT reports with your annual financial statements.
Make sure you know how the VAT applies to your sales.
Comparing your business to the laws and rules about VAT that apply.
Make sure that the rules of the VAT plans are followed correctly.

Options for planning with VAT.

What is the process of VAT in UAE?

At least five days before the VAT check, FTA sends a notice to the taxpayers. Taxpayers must keep all papers related to their VAT returns as well as other proof. Also, the people in charge of accounting and tax records must be there to make the auditing process easier. Among these records are:

Give both bills and receipts.
Tax bills from suppliers and other linked paperwork
Notes on tax credits
Documents showing proof of imports and exports.
Declarations for customs
Non-deducted records of input tax

Tax inspectors need all of these things to do their job. They keep an eye on any differences between payments, receipts, and paperwork for all deals that involve VAT. So, any information that seems odd or is missing is written down and checked again.

VAT Deregistration Services In UAE

In Dubai, UAE, which is primarily tax-free, the arrival of VAT in Dubai brings both many benefits and a lot of new problems. Deregistering for VAT is just as important as registering for VAT, and companies in the UAE should know when and how to apply for VAT deregistration.

Taxable businesses in the UAE can ask the FTA to cancel their VAT registrations for several reasons, like when they stop making taxable goods or doing business. In these situations, it is important for companies to file for VAT deregistration. On the other hand, VAT-registered businesses need to know when and how to cancel their VAT registration. A reputable VAT consulting company like SKM Global accountant will help in these situations

What is Deregistration from VAT?

VAT de-registration in UAE lets a taxable person or company cancel their VAT registration and suspend their Tax Registration Number (TRN). You can cancel your VAT registration online, just like you can do other things on the FTA e-services site. Businesses can only get out of VAT if registered with the Federal Tax Authority. SKM Global can help you get your business off the FTA. We will make sure that the process of deregistering from VAT is done without any VAT fees from FTA. The fine for not cancelling your VAT registration on time is AED 10,000