Registering under the VAT law means that the company is recognized by the government as a provider of goods and services, and is authorized to collect VAT from customers and remit it to the government. Only companies registered for VAT purposes can carry out the following operations: You can file your VAT in UAE with the VAT consultant UAE like thevatconsultant.
- Charge VAT on taxable supply of goods and services
- Claim Input Tax Credit on VAT paid on their purchases, which will be deducted from VAT liability on sales
- Payment of VAT to the government
- Periodic filing of VAT return
In addition to the above, all registered companies need to adjust their business reporting structure according to compliance requirements, such as accurate and up-to-date account books such as invoices, tax vouchers, debit notes, tax paid vouchers for all records of incoming materials and need to maintain external supply, etc.
Therefore, understanding the basics of VAT will be one of the important steps in preparing for VAT, and getting VAT registered will be the first step for your business to transition into the VAT era.
On this basis, VAT registration UAE can be classified into the following:
- Mandatory VAT Registration
- Voluntary VAT Registration
- Exemption from UAE VAT Registration
How to Apply for VAT Registration in UAE
In the UAE, companies with a turnover above AED 375,000 must apply for mandatory VAT registration dubai. In order to facilitate business registration, the Federal Tax Administration (FTA) has opened its portal for online VAT registration. NAFTA has announced a deadline based on turnover and registration will take place in stages. Although it is important for companies to determine their VAT registration obligations, it is also important for companies to understand how to apply for VAT registration and to understand the level of detail required to complete the registration process online.
This is because before applying for or starting the online VAT registration process, a good understanding of the types of details required and the steps to complete the online VAT registration will help you prepare in advance. As a result, the registration process can be easily completed and unnecessary delays caused by providing incorrect details, which may even lead to the rejection of the registration request, can be avoided.
- Creation of e-Service Account
- Login to your e-Service Account
- VAT Registration Form: The online VAT registration form contains 8 sections as shown below, in under which the details need to be furnished for completing VAT registration
- About the applicant
- Details of the applicant
- Contact details
- Banking details
- Business relationships
- About the VAT registration
- Review & submit