VAT Services in UAE

If you operate a business in the UAE, VAT registration is mandatory if you reach mandatory threshold limit. The country boasts a meticulously structured VAT system, essential to its economic infrastructure. Partnering with us transforms navigating VAT complexities into a journey of discovery. We unveil opportunities and guide you away from the pitfalls of non-compliance. Interested in learning more?

VAT Registration

The Federal Tax Authority is the gatekeeper, collecting VAT from businesses like yours and keeping the audits in check. If you’re running a taxable business in the UAE, you’ll need to file the VAT monthly or quarterly, depending on what your TRN Certificate says. And the clock is ticking—you’ve got 28 days post-tax period to settle your VAT dues.

Finding which is the right VAT registration shouldn’t be a quest:

Mandatory VAT Registration: If your business strides with turnover over Dh 375,000 during last 12 months, the law calls you to do VAT registration in UAE. It’s not just compliance; it’s your entry ticket to the formal economy
Voluntary VAT Registration: For businesses with turnover exceeding Dh 187,500 but less than Dh 375,000 during last 12 months, this VAT registration in UAE is your choice that opens doors to reclaiming your dues in tax credits. It is beneficial for those with a growth trajectory.
VAT Registration as a Tax Group: Businesses operating with multiple trade licenses can opt for VAT group registration. This VAT registration in UAE will not only simplify VAT dealings but bind them under one number, one identity within the UAE’s tax ecosystem.

The following documents are required for VAT registration in UAE:

1. Copy of Valid Trade License.
2. Valid Passport copy of the owner/partners who own the license.
3. Copy of Valid Emirates ID of the owner/partners who owns the license.
4. Memorandum of Association (MOA) – (not required for sole establishments).
5. Contact details of the company (complete address and P.O Box).
6. Concerned person’s contact details (Mobile Number and Email).
7. Bank Details (Account Number, Account Name, Bank Name, Branch Name and IBAN).
8. Turnover Declaration for the last 12 months (must be signed, stamped and printed on company letterhead).

VAT Return Filing

Filing your VAT return is more than a routine; fundamentally, it’s about transparency—clearly reporting the VAT you owe or are due back from the tax authorities. Typically, you’ll file every three months, but some of you might need to do this monthly. It is like a shield keeping your business legally safe and sound from penalties that could throw a wrench in your works.

Once you’re VAT-registered, remember the number—28 days. That’s your window to file your VAT return and make any necessary payments after your tax period ends. Miss this deadline, and you could face fines or even a dreaded VAT audit.

Your VAT Return Filing Form will detail your output tax due and input tax recoverable, among other vital bits of information. It is vital to safeguard your business’s financial well-being by preventing losses and ensuring you benefit during tax assessments.

And, here is some good news: AlDaqiq is here to simplify your VAT return filing in the UAE. We offer a variety of VAT services, ensuring your business aligns with UAE’s VAT laws.

VAT Amendment

Your business evolves, and so must your records. Once you have registered under the VAT law, be attentive to amendments in the details you provided in your application. This could involve your business details, bank information, or the authorized signatory. Updates can occur, and when they do, you have a tight 20-day window to inform the Federal Tax Authority. Get in touch with AlDaqiq’s VAT service where we will make sure all your business amendments are made on time and you can stay tension free.

VAT Deregistration

If your business journey in the UAE needs to come to a close, de-registration is your next step. This process lets you cancel your VAT registration and terminate your Tax Registration Number (TRN). It’s all about wrapping up VAT formalities properly with the UAE Federal Tax Authority.

Here’s how it rolls: the whole VAT de-registration process is online—smooth and straightforward. VAT de-registration in the UAE allows businesses to step back from tax obligations, either voluntarily or mandatorily. But the FTA will give the green light for your VAT de-registration if your reasons are solid and meet the legal requirements. Here are the conditions required for VAT deregistration:

Voluntary VAT Deregistration

A taxpayer can opt for VAT deregistration:

If it has completed 12 months of the date of Tax Registration.
If it does no longer supply the goods that are taxable.
If its annual taxable turnover is between 187,500 and 375,000
If the total value of the anticipated taxable supplies or expenses subject to tax in the coming 30-days period will not exceed the voluntary registration threshold.

Mandatory VAT Deregistration

A company can go forward with mandatory deregistration procedure: –

If the company no longer makes taxable revenue of AED 187,500 during last 12 months.
If the company stops to supply any taxable goods.
If they are no longer considered a legal entity. (Company Closed)

VAT Deregistration for Groups

FTA will approve the cancellation of VAT registration for a group:

If the registered business no longer meets the requirement to be considered as a group.
If the companies in the group are no more financially associated with the group.
If it foreknows the tax status as a group can result in any sort of tax evasion.

VAT Refund

Got a tax imbalance? It is refund time. Whether you’re steering a business or just passing through as a tourist, claiming your VAT refund in the UAE is very straightforward. Input VAT is what you pay on your purchases, and Output VAT is what you collect from sales. If your business ends up paying more tax than it collects, you’re in line for a VAT refund.
But there is a catch—the paperwork. The documentation needs are strict, and precision is key. So, don’t drag your feet. Let us help you take early and smooth actions, ensuring you get what is yours without a hitch.

VAT Accounting Services

Are you trying to navigate the confusing maze of VAT? Let’s simplify it. If you’re a business operating under VAT in the UAE, you need to keep your financial records straight and file VAT returns exactly when they are due. VAT Accounting is about smart tax management, helping you meet deadlines and reduce your tax burden. Remember, keeping meticulous VAT records isn’t optional here—it’s a must. Feeling overwhelmed? Consider outsourcing your VAT accounting. By leaving the numbers to the experts, you save on the expenses of a full-time accountant and dodge the stress, freeing you up to chase those big-picture goals. Got questions? Need a hand? Reach out to AlDaqiq Accounting & Tax Consultant in Dubai. We’re here to help.