Businesses in UAE, that provides taxable supplies, are compulsorily required to register for VAT if their annual turnover in the last 12 months is more than AED 375,000 or expected to increase in the next 30 days. For companies with an annual turnover between AED 187,500 and AED 375,000 VAT registration is voluntary. Companies mostly need VAT registration to get a Tax Registration Number (TRN). VAT registration can be done online through the portal of the Federal Tax Authority (FTA).
Registering your business under the VAT law means that your business is recognized by the Government. Parsh accounting and bookkeeping services offer its clients simple and hassle-free VAT registration services.
The process of VAT registration given below is very simple. Parsh accounting and bookkeeping firm provides online VAT registration service for your business.
After you submit the application, it is reviewed by FTA. On approval, a TRN is issued. Once the VAT registration process is complete a VAT certificate is issued by the Ministry of Finance. A VAT certificate is an official confirmation that your business is registered under the VAT law. It includes the VAT registration number, date of registration, date of issue, Address of your business, first VAT return due date, and start and end of the tax period.
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Following is a list of documents required to apply for VAT registration.
In UAE VAT registration can be Mandatory as well as Voluntary depending on the annual turnover of a business.
Mandatory - If the annual turnover of a business is more than the tax registration threshold or it is expected to increase, registration is mandatory. So, if the value of taxable supplies and imports is more than AED 375,000, VAT registration is mandatory. However, this limit is not applicable to foreign businesses, which means an international company in UAE, selling to UAE customers is required to register for VAT irrespective of its turnover.
Voluntary - For voluntary registration, the threshold is AED 187,500. So a company having the value of taxable supplies and import more than the voluntary threshold and less than the mandatory threshold can register for VAT voluntarily.
There are certain businesses that are exempt from VAT registration. These are,
VAT registration will provide long-term benefits to your business such as,
Whether your business is small or large, Parsh can take care of taxation services for you. Remember that there is a penalty of AED 20,000/- applicable if you fail to do VAT registration within the given time. So, waste no time and contact us, our team is well-versed in the entire process of VAT registration and timely VAT filing. We provide all types of VAT services for all types of businesses. We understand the importance of VAT registration for all businesses and offer a broad range of services. For any query onVAT registration, reach out to us and book your consultation.
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