How to Register for VAT in UAE
VAT Registration is mandatory tax registration that companies must register their business implicated in trading goods or services in UAE. A business is obligated to register for VAT if the taxable supplies and imports exceed the mandatory registration threshold of AED 375,000. VAT registered businesses attract clients to them as they considered them one of the reliable companies that built trust in the business. Moreover, a business may choose to register for VAT voluntarily where the total value of its taxable supplies and imports (or taxable expenses) is more than the voluntary registration threshold of AED 187,500.
All business that is looking for VAT Registration in Dubai may get VAT Services from the certified consultant and some companies have a consultant, helps you to acknowledge the entire process of VAT registration and its impact, challenges, calculation, marketing costs, and profitability and roadmap to implement.
A VAT registered company is obligated to perform the below-mentioned tasks:
- Collect VAT for taxable Goods and services.
- Paying VAT to the Government.
- Filing VAT returns at a given time.
All VAT-registered businesses need to set up their business reporting system with the VAT compliance needs as accurate and maintain books of accounts with up to date, tax invoices, Tax debit notes, credit notes, and records all are to be maintained.
VAT Registration Process
A VAT Concept is newly introduced on 1st January 2018, Imposed 5% on goods and services in including deemed supply. The Business covered under the VAT laws and Guidance has to register your business.
Here is the complete Step by Step process of VAT Registration in Dubai.
- Check the Eligibility for register Business under the VAT in UAE.
- Document Required for Submitted to VAT Registration.
- Register your Company with help of a VAT Consultant in Dubai.
Eligibility for VAT Registration in Dubai
Here are the eligibility criteria to register for VAT in UAE, and they are as follows:
- If the value of taxable supplies and imports exceeds or over AED 375,000, the business is required to register for VAT.
- If taxable supplies between AED 187500 to AED 375000, then a business can register for the voluntary VAT registration process.
Documents required for submitted to VAT Registration
To get the Tax Registration Number (TRN), that is mandatory for a business to submit all the documents required for VAT Registration in Dubai. For online VAT registration, the following are the documents required for VAT Registration.
- A Copy of the business trade license
- A copy of the owner passports or Business partners of the company mentioned on the license.
- Complete address of the official company location
- (MOA) Memorandum of Association of the company
- Bank account details of the company Account
- A complete detailed view of the turnover of the company
- Emirates ID copy of the owner of the trade license. (Should not be expired);
- Concerned person contact details. (Mobile Number, Designation, and Email Address);
- Last 12 months Monthly income statement. (It is Mandatory to signed and stamped by the owner of the company and must be on the company letterhead);
- Records of Expected revenue & expense for next 30-days after getting the Tax Registration Number (TRN);
Register Your Company with help of VAT Consultant in Dubai
VAT registration is an online procedure, completed through the Federal Tax Authority (FTA) web portal.
Here are the Steps for the VAT Registration Process:
- Go to Federal Tax Authority (FTA) Portal Online.
- Create a new account.
- After sign-up, start your registration process as guided on the FTA website.
- Enter complete details of Business and Owners and submit the application.
On successful submission, the Tax Registration Number (TRN) will be generated for the user.
A user is required to verify the email address and other details as and when required. After verifying the detail the login id and Password will be sent to your email id.
“To fulfill VAT related Compliance, required experienced and qualified VAT Consultant in Dubai like PARSH to support the businesses with the necessary expertise and knowledge regarding VAT & Tax laws”
VAT GROUP REGISTRATION
Only the representative member of a prospective Tax Group has the right to use for a Tax Group. If you are using TAX Group formation, the representative member should have a Tax license number (TRN) or submit a VAT registration application.
Each of the prospective Tax Group members must:
- Be a legal person
- Be a UAE resident; and not a member of another Tax Group.
The Companies minded to register Under the UAE VAT Laws face some challenges while implementing VAT in their business stream to make sure that they are VAT compliant. And since VAT is a newly Introduced charge in UAE, it comes to VAT compliance in Dubai, and you can believe us who will provide you trustworthy public services and keep your company 100% compliant with VAT regulations.