#VAT Registration

[simplysolveduae]

Steps And Requirements VAT Registration In UAE

Under the value-added tax (VAT) system implemented on January 1, 2018. UAE VAT registration is mandatory for businesses with annual revenue exceeding AED 375,000 ($102,000).

Registration to the FTA requires a sound basis for the registration, preparation of the necessary evidence, and documentation to proceed without delays or issues. Therefore preparation and planning are key to minimising issues, potential risks, and penalties.

Here are the steps and requirements for VAT registration in the UAE:

1. Determine your business’s eligibility for VAT registration.

To determine your business’s eligibility for VAT registration, you need to consider the following:

Taxable Income: If your business has     revenue exceeding AED 375,000, you must register for VAT calculated on a     rolling basis, including the preceding 11 months and the next 30 days.

Type of business: All businesses operating     in the UAE must register for VAT except for a few exceptions. These     exceptions include businesses that are exempt from VAT, such as the sale     and supply of some financial and insurance services

Location of business: Businesses operating in     the UAE, regardless of location, must register for VAT if they meet the     above criteria.

2. Register your business with the Federal Tax Authority (FTA).

To register your business for VAT, you must register it with the Federal Tax Authority (FTA). To do this, below is a summary of the minimum requirements:

Possess a Trade License: To register your     business for VAT, you need a Trade License.

Register with the FTA: Once you have a Trade     License, you need to register your business with the FTA through their     e-Services portal. You will need to provide the following information:

Business name and address

Bank details

Type of business activity

Trade License number

Details of the business     owner(s)

3. Obtain a Tax Registration Number (TRN).

Once you have registered your business with the FTA, you will receive a Tax Registration Number (TRN). This number is unique to your business and will be used for all your VAT-related activities.

4. Set up a VAT accounting system.

To comply with VAT requirements, you need to comply with the provisions as a taxpayer as set out in the Executive Regulations. Ideally, you should set up a VAT accounting system that tracks your business’s VAT-related activities to help with the VAT reporting. This includes:

Recording the VAT charged on     your sales and the VAT paid on your purchases

Maintaining detailed invoices     for all your sales and purchases

Preparing and submitting VAT     Returns to the FTA regularly

VAT returns must be filed regularly, typically quarterly, or monthly. To file a VAT Return, you need to:

Prepare a VAT Return form: The VAT return form     includes details of your business’s sales and purchases for the period and     the VAT charged and paid.

Submit the VAT

Payment on VAT due

[simplysolvedagency]

Steps And Requirements VAT Registration In UAE

Under the value-added tax (VAT) system implemented on January 1, 2018. UAE VAT registration is mandatory for businesses with annual revenue exceeding AED 375,000 ($102,000).

Registration to the FTA requires a sound basis for the registration, preparation of the necessary evidence, and documentation to proceed without delays or issues. Therefore preparation and planning are key to minimising issues, potential risks, and penalties.

Here are the steps and requirements for VAT registration in the UAE:

1. Determine your business’s eligibility for VAT registration.

To determine your business’s eligibility for VAT registration, you need to consider the following:

Taxable Income: If your business has     revenue exceeding AED 375,000, you must register for VAT calculated on a     rolling basis, including the preceding 11 months and the next 30 days.

Type of business: All businesses operating     in the UAE must register for VAT except for a few exceptions. These     exceptions include businesses that are exempt from VAT, such as the sale     and supply of some financial and insurance services

Location of business: Businesses operating in     the UAE, regardless of location, must register for VAT if they meet the     above criteria.

2. Register your business with the Federal Tax Authority (FTA).

To register your business for VAT, you must register it with the Federal Tax Authority (FTA). To do this, below is a summary of the minimum requirements:

Possess a Trade License: To register your     business for VAT, you need a Trade License.

Register with the FTA: Once you have a Trade     License, you need to register your business with the FTA through their     e-Services portal. You will need to provide the following information:

Business name and address

Bank details

Type of business activity

Trade License number

Details of the business     owner(s)

3. Obtain a  Tax Registration Number (TRN).

Once you have registered your business with the FTA, you will receive a Tax Registration Number (TRN). This number is unique to your business and will be used for all your VAT-related activities.

4. Set up a  VAT accounting system.

To comply with VAT requirements, you need to comply with the provisions as a taxpayer as set out in the Executive Regulations. Ideally, you should set up a VAT accounting system that tracks your business’s VAT-related activities to help with the VAT reporting. This includes:

Recording the VAT charged on     your sales and the VAT paid on your purchases

Maintaining detailed invoices     for all your sales and purchases

Preparing and submitting VAT     Returns to the FTA regularly

VAT returns must be filed regularly, typically quarterly, or monthly. To file a VAT Return, you need to:

Prepare a VAT Return form: The VAT return form     includes details of your business’s sales and purchases for the period and     the VAT charged and paid.

Submit the VAT

Payment on VAT due

[simplysloved]

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.

[accountingagencydubai]

VAT Services in Dubai, UAE

Lotus Touch is known for providing comprehensive and skilled advice on all elements of Value Added Tax. Our best VAT services in the UAE fully comply with FTA laws. We provide a full variety of VAT solutions, including VAT registration, VAT return filing, handling VAT voluntary disclosures, aiding with VAT de-registration, VAT training, VAT preliminary audits, VAT consultation, and VAT reconsideration processes.

Lotus Touch's VAT experts in Dubai offer high-quality services to clients from diverse industries. To get a proper VAT Service, contact us @ https://www.lc-intl.com/vat-consultancy-services-dubai-uae.php

[beverensoftware]

https://beverensoftware.com/vat-reports-and-how-they-help-tax-filing/

[interareapsp-blog]

增值稅VAT申請

增值稅 (VAT) 是對商品和服務徵收的消費稅，在從初始生產到銷售點的供應鏈增值的每個階段徵收。

一、中國增值稅申請

中國大陸其企業稅務發票可分為一般納稅人（可開立專用發票）與小規模納稅人（開立普通發票）。

公司註冊後默認為小規模納稅人，需額外申請一般納稅人資格方可開具可扣抵增值稅的發票，申請需符合稅局條件。

二、一般納稅人資格認定標準

開業滿一年的企業，應符合以下條件年增值稅銷售額達到或超過以下規定標準：

工業企業：年應稅銷售額在50萬元以上。

商業企業：年應稅銷售額在80萬元以上。

對於新辦商貿企業被直接認定為一般納稅人，稅務機關在跟蹤管理期間會重點監控其增值稅納稅申報是否按時辦理，以及是否涉及虛開或接受虛開增值稅抵扣憑證等情況。

★查看完整文章: 增值稅VAT

匯佳國際 Inter Area ==================== 台北 +886-2-25575607 台中 +886-4-23202793  | Email : interarea@interareapsp.com  |  | Skype : interareapsp   |   Line : inter-area   |   WeChat : inter_area  | Website : www.interareapsp.com |

[vatai]

VAT Registration & Filings & OSS Services make European VAT compliance easy

EU VAT Stressing You Out as an E-commerce Seller?

Our EU VAT Registration & Filings & OSS Services make European VAT compliance easy!

Direct API Integration With 5 EU Tax Authorities

Get VAT numbers quickly for all EU countries & UK

Cos-Effective & Efficient Tax Compliance Solutions

1 on 1 Dedicated Account Manager

Quick Respond & Timely Customer Support

No more risking suspensions for non-compliance. Ditch the VAT stress and focus on selling!

Get in touch with us today to learn more! www.vatai.com

Follow VAT Ai on Social Media:

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LinkedIn: https://www.linkedin.com/company/vatai/

Twitter: https://twitter.com/VATAi_Official

YouTube: https://www.youtube.com/@VATAi_Official

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https://paci.ai/cost-effective-accounting-software/?utm_source=microblogging&utm_medium=tumblr

[themilestoneuae]

MPMS - VAT Registration in Dubai, UAE 

Efficient VAT registration services tailored to your business needs. Milestone provides cost-effective services for VAT Registration in Dubai, UAE for your businesses. 

[vatdubaiud0blog]

The Essential Role of VAT Registration in Dubai Businesses

In the fast-paced and dynamic landscape of Dubai's business realm, the key to unlocking prosperity lies in strategic moves that go beyond conventional practices. At VAT Registration UAE, we explore the pivotal role of vat registration in Dubai businesses, offering unparalleled insights that transcend the ordinary.

Navigating the Dubai Business Landscape

Dubai's status as a global business hub comes with its unique set of challenges and opportunities. Our expert analysis dives deep into the intricacies of the local business landscape, showcasing how VAT Registration acts as a linchpin in navigating these intricacies seamlessly.

The Strategic Imperative

VAT registration is not merely a legal requirement; it's a strategic imperative for businesses aiming for long-term success. We decode the complexities surrounding VAT registration, emphasizing its transformative potential in reshaping your business strategies for sustained growth.

Why VAT Registration Matters

Our detailed exploration goes beyond the surface, elucidating why vat registration services matters in the grand scheme of Dubai's business ecosystem. From gaining customer trust to ensuring compliance with local regulations, we dissect the essential aspects that make VAT registration a cornerstone of success.

Expert Guidance at Every Step

Navigating the VAT registration process can be daunting, especially for newcomers to the Dubai business scene. At VAT Registration UAE, we stand as your trusted advisors, providing expert guidance at every step of the VAT registration journey. Our detailed, step-by-step breakdown ensures a smooth and hassle-free registration process.

Conclusion

In a city where opportunities abound, VAT Registration Dubai emerges as a cornerstone for businesses aspiring to thrive in Dubai. At VAT Registration UAE, we unravel the complexities, offering insights that redefine success paradigms. Connect with us today and embark on a transformative journey where prosperity knows no bounds.

[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.

[simplysloved]

UAE VAT Registration in 2021 – A Step-by-Step Guide

Since the UAE introduced the VAT on Value Added Tax (VAT) on January 1st, 2018, business owners are required to follow the rules, including UAE VAT Registration and tax filings.

Companies operating in the UAE must ensure that VAT is correctly collected and properly accounted for so that it can be paid back to Federal Tax Authority (FTA).

UAE VAT Registration means that your business is recognized by government authorities to take VAT from your customers and then transfer this to the government.

As a business owner, you must be aware of the critical aspects of VAT in the UAE.

These are step-by-step guides.

What is VAT?

Taxes on VAT are applied to the exchange of services and goods. It that is used at every stage in the chain of supply. It is calculated based on the value added at each step. This indirect tax is imposed on the Government of UAE at 5 percent on most businesses and products. However, food, education, and healthcare items are exempt from VAT.

VAT Registration UAE

If you need to declare VAT depends on your business’s turnover per year.

Exclusive from Registration for VAT Value of supplies that are less than Dh187,500

Voluntary UAE VAT Registration, The value of reserves is between Dh187.500 to Dh375,000.

Mandatory VAT Registration Value of supplies above Dh375,000

Your registered business will receive a unique tax identification number (TRN) when the UAE VAT registration is accepted. The VAT invoices on all VAT invoices will include the TRN.

UAE mainland businesses, as well as free zone companies, are taxed on VAT. The only ‘designated zones’ designated by Cabinet members of the UAE Cabinet are outside the scope of UAE VAT taxation. Moving goods within areas are free of tax.

It typically takes between 3 and 5 days for the tax registration process to complete.

VAT Return Filing

VAT-registered companies (taxable individuals) are required to submit an annual VAT return to the FTA.

A VAT return is a summary of the supplies and purchases that a tax-paying person makes during tax time to calculate the tax liability of VAT.

You can file your VAT return online every month or every quarter by visiting FTA’s official website – https://www.tax.gov.ae/.

Tax returns should be filed on time, usually by the 28-day deadline. The tax period is the time in which taxes are due and due. The tax period:

* Monthly for businesses with annual revenue of Dh150 million or greater. * Quarterly rate for companies with an annual turnover of less than Dh150 million

VAT Liability

In contrast to customer business revenues, VAT is not part of your company’s income. Instead, the VAT you collect is known as VAT liability & has to be paid to the government of the UAE.

Vat liability is the gap between the output tax to be paid (VAT applied to supplies of services and goods) and the tax on input (VAT incurred when purchasing) which is recoverable for a specific tax time.

If output taxes are more significant than input taxes, the excess must be paid to FTA. However, if there is an excess of output tax and input tax, the taxable person can recuperate the quantity and apply it to future payments to FTA.

Documents Required for  VAT Registration in UAE

You must provide duplicates of these documents to register for UAE VAT Registration.

Certificate of registration or incorporation.

Trade license

Passport and visa, or Emirates ID of director/manager

A partnership contract, memorandum association, or another document that provides information on the business’s ownership.

The profile of the named company director.

Bank account details;

Contact details;

Physical office;

List of business directories or partners in the UAE over the last five years

The Federal Tax Authority would also need to declare the following:

The actual or estimated value of transactions in the financial sector;

The registered business activities of the applicant;

Information on the anticipated turnover of the company over the next thirty days;

The turnover of the business over the last 12 months (supporting documents are required);

Information about the business’ anticipated exempt supply;

All details about the business exports and imports of the company;

Information on the customs registration process;

The business activities that take place in the GCC

The taxpayer or VAT-registered company is also required by the tax authorities to maintain the following records/documents:

Tax invoices and any other document pertinent to the receipt of the goods or services you need;

Notes on the tax credit, in addition to any other documents that the company receives about the purchasing of products or services

Record of tax-deductible products received or manufactured;

Tax invoices and any other document that is the issue concerning products or services;

Notes on the tax credit and any other type of document issued to purchase items or services

Documents of services or goods that are disposed of or used by the company to deal with matters not connected with the business, as in the tax paid for these;

Record of the imports and supply of goods or other products;

Documents of corrections or adjustments applied to tax invoices or any other account

Record of products or goods which are shipped to another country

Tax records must be kept by any tax-paying individual and include the following details:

Taxes that can be recovered on imports or supplies;

Tax recoverable subsequent adjustment or correction of error;

Tax due following adjustment or error correction

Taxes owing on all tax-deductible products

UAE VAT Registration Process

If you have your soft copies of the previously mentioned documents in hand, you’re in good shape to begin the registration procedure.

First of all,

Log in to e-service, and establish an account. Input the UAE VAT registration form

FTA (Federal Tax Authority) authorized e-service account is required to register VAT. However, it is easy to create an account through their official site.

VAT Rates in UAE

The rates of VAT in the UAE differ from product to product. The standard rate of the government is 5%, and you should charge this amount unless your product or service is in”zero-rated,” or “zero-rated” or VAT exemption.

Zero-rated rates are available on tax-exempt products; however, the buyer is not liable for VAT. Your VAT account must record and report the VAT zero-rated transactions, too.

Certain goods and services, including the construction of residential structures and land and financial services, are exempt from VAT.

[accountingagencydubai]

Importance of Outsourcing VAT Services in Dubai, UAE

In the UAE, every business owner has to register for VAT and submit information to the Federal Tax Authority (FTA) online. Accurate financial records are critical for VAT compliance, as they ensure accurate liability computation, eligibility for input VAT reclamation, and tax audit readiness.

Required VAT Registration in Dubai, United Arab Emirates Registering for VAT requires registration for businesses with taxable supplies and imports of more than AED 375,000. Businesses can also freely register for VAT if their taxable supply and imports (or taxable costs) exceed AED 187,500. Failure to register for VAT within the required timeframe may result in penalties and legal action.

VAT Registering in the UAE Dubai is well-known for its business-friendly environmental conditions, and its tax policies meet international standards for the effectiveness of costs, productivity, and integrity. The VAT registration requirements in Dubai are easy, accessible, and inexpensive. Businesses that successfully register obtain a VAT certificate, proving their compliance with tax responsibilities.

Benefits of VAT Registration in UAE with official recognition 1. Benefits include increased trust, money back, staying competitive, and access to new opportunities. 2. You can easily avoid Penalties. 3. Customer Satisfaction 4. Greater financial management

Accurate Financial Records for VAT Compliance Accurate financial records are required for tax compliance and VAT rules. They reduce overpayment or underpayment of taxes, ensuring financial stability and client trust.

Importance of Tax Group Registration in the UAE Businesses in the UAE can apply for tax group registration, which allows multiple businesses of different types to form a tax group. The FTA will issue a single Tax Registration Number (TRN) to the entire organization. The group's representative company must submit an application for tax group registration, and each potential partner must meet certain conditions.

For complete and reliable support in managing your Corporate Tax duties, check https://www.lc-intl.com/vat-consultancy-services-dubai-uae.php or contact our team of qualified experts for personalized consultation and guidance. Lotus Touch provides an efficient and hassle-free experience in meeting your Corporate Tax needs and optimizing your business operations in Dubai, United Arab Emirates.

Contact us today to set up a consultation and see how we can help your business develop.

Contact us at +971 50 6601270 or +971 50 5757453

Get a quote at info@lc-intl.com

[uaeexpension]

How to Apply for VAT Registration in UAE?

VAT Registration in UAE is a prime obligation under the Emirati VAT law, no matter what kind or size of business you own. In order to get official recognition from the government, all businesses, small, medium, or large, have to register themselves with the Federal Tax Authority (FTA) under the UAE VAT law. The registration eligibility will, however, depend on the revenue generated by the company in a considerable time.