VAT Services in UAE
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VAT is a transaction-based indirect tax which is levied at each step of the supply chain. End consumers generally bear the VAT cost while registered businesses collect and account for the tax, in a way acting as a tax collector on behalf of the Federal Tax Authority.
VAT was introduced in the UAE on 1st January 2018 by the Federal Tax Authority.
To fully comply with the UAE VAT legislation, businesses may need to make some changes to their core operations, financial management and book-keeping, technology, and perhaps even their human resources.
VAT is paid by the business entity to the government after offsetting the tax amount it has paid to its suppliers and the tax amount it collected from its customers. We offer various services under VAT compliance and below is the list:
VAT registration is made by registering the entity or a person who operates the business.The person can be an individual, or a legal person, or another form of entity. The following registration criteria are followed while registering for VAT:
Mandatory Registration:
Voluntary Registration:
Before applying for VAT, you must define your business, legal person, resident, place of establishment, fixed establishment, turnover, and taxable supply.
However, inaccurate and incomplete VAT registration procedure leads to delayed approval of Tax Registration Number which on the other hand invites penalties. BCL is mastered in providing you with hassle-free registration with complete VAT requirements and makes you good to go.
VAT return is the official tax report a registered business has to submit to the FTA. UAE requires all its registered organizations to periodically file their VAT Form 201 as per their tax period invariable of business process and function. It is tedious task to consolidate all your taxable supplies including exports for any businesses and submitting it with FTA, BCL Globiz has the expertise in filing the VAT return that is fully complied with the law.
Further any delay in remitting the VAT liability beyond the due date could attract late payment fee as below:
Last-minute processing of VAT increases the error rate and decreases the ability to take corrective measures which costs time, energy, and money. As it says delay is dangerous, we are dedicated to the periodical computation of tax charges for better planning and periodical checking, auditing, and computing the VAT health and liability to position you in a safe space.
Implementation of VAT procedure in an organization starts with analysing the account books, understanding the input and output structure, planning the strategy, and segregating the tax group. In addition, the management should be aware of VAT rates to control and modify cash flows.
We at BCL Globiz ensure that the team is regularly updated with amendments in the VAT laws and provide top notch professional advisory services that benefit the organization in the long run by avoiding penalties levied in the law.
VAT refund is requested by organizations from FTA when the input tax (charged on amount paid to suppliers on purchases) in VAT return filing is greater than the output tax (charged on the amount of sales). FTA carries out an initial assessment, document verification, and scrutinizes the claim. Upon successful validation, the applicant is entitled to receive the refund of excess tax within 20 days of application.
Though the normal refund period of VAT is 20 days, complex applications can take a while longer. In such instance, the taxpayer is informed through e-mail about the status whether FTA accepts or rejects the applications.
If the applicant doesn’t want to get the refund at the current tax period, he can carry forward the recoverable to subsequent periods and use it in payable tax or penalties or apply for a refund later.
At BCL, we understand the complexities of VAT regulations and their impact on your business. We’re not just here to ensure compliance; we’re your one-stop solution for maximizing VAT efficiency and profitability, offering a comprehensive suite of services that cater to every aspect of your VAT needs. Read More
Streamline your VAT Compliance Process:
Claim what you’re owed! We expertly draft flawless refund applications that align with all FTA criteria, gather and verify required documents, and submit them on-time for faster processing and expedited repayments.
Unsure of the documentation maze? We guide you through specific requirements for your business type and location, handling the entire online registration process, including VAT Registration Documents Required in UAE and FTA UAE VAT Registration, ensuring compliance with all legal guidelines.
Leave the paperwork to us. We handle your VAT filing services, managing deadlines and maximizing deductions, while providing expert VAT Compliance Services to keep your business operating smoothly.
Whether you’re in Dubai, Abu Dhabi, or anywhere in the UAE, our VAT registration services in Dubai extend to the entire nation, offering tailored support to your local needs.
Let us navigate the deregistration process for you, ensuring a smooth transition and compliance with regulations.
Beyond Compliance, We Optimize:
Strategic VAT Planning:
Pro-active VAT Compliance Monitoring:
Expert Consultants
Time-Saving
Cost-Effective
Ready to streamline your VAT Services in UAE journey and unleash its full potential? Contact BCL today for a free consultation and discover how we can help you navigate the ever-changing world of VAT with confidence and ease.
The Federal Tax Authority’s web portal (EMARA Tax) facilitates online VAT registration in the UAE for obtaining the Tax Registration Number (TRN). BCL Globiz provides services for both VAT registration services and Tax Group registration services. A company is required to seek VAT registration when its taxable supplies or imports exceed the mandatory registration threshold of AED 375,000. Additionally, a business has the option to register for VAT voluntarily if the combined value of its taxable supplies, imports, or taxable expenses exceeds the voluntary registration threshold of AED 187,500
VAT, as a general consumption tax, is applied at 5% to all transactions of goods and services unless specifically exempt in Article 46 of the Federal Decree-Law No. (8) of 2017 on Value Added Tax or subject to a rate of 0% as per Article 45 of the Federal Decree-Law.
Every seller registered for VAT is required to issue a tax invoice when selling taxable goods or services. There are two types of tax invoice under the VAT decree, one is Simplified tax invoice and the other is full tax invoice. A simplified tax invoice can be raised by a seller if the recipient of services/goods is unregistered (B2C) or the consideration for the supply doesn’t exceed AED 10,000. A detailed invoice needs to have all the information as menitoned in the Article 59 of the Executive regulation.
The standard tax periods for VAT return are as follows:
1) Quarterly for businesses with an annual turnover below AED 150 million.
2) Monthly for businesses with an annual turnover of AED 150 million or more.
3) The FTA may, at its discretion, allocate a different tax period for a certain type of business
Common challenges faced during the VAT registration process in Dubai include incomplete documentation, difficulties in navigating the online application system, and understanding specific requirements. The FTA is very specific and if the required details are not shared then it can be rejected after issuing queries. BCL Globiz can assist in overcoming these challenges by providing professional guidance, ensuring accurate documentation, and facilitating a smooth VAT registration process.
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