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VAT Filing in Dubai

Vat Filing in Dubai

IBM Global is offering quality and timely VAT return filing services Dubai on a monthly and quarterly basis. Our comprehensive VAT filing in Dubai give you peace of mind. Our experienced VAT professionals will look after your VAT concerns and transactions.

VAT, or value added tax, is a tax on the consumption or use of goods and services. VAT of 5% is charged at the point of sale. Taxes are collected and accounted for by businesses on behalf of the government. In order for businesses to file vat online, they must use the Federal Tax Authority (FTA) portal. For now, the FTA portal will only accept returns in an online mode as offline options such as XML, EXCEL or any other utility are not available for submitting VAT returns. Thus, the taxpayer needs to manually enter the values for Sales, Purchases, Output VAT, Input VAT, and Input VAT, etc. on the VAT filing form available in the FTA portal.

In order to complete the VAT registration services in Dubai, the taxpayer needs to fill out and submit a form named 'VAT 201'. As described below, the VAT 201 form is divided into seven sections:

  • Taxable Person Details
  • VAT Return Period
  • VAT on sales and all other outputs
  • VAT on expenses and all other inputs
  • Net VAT Due
  • Additional reporting requirements
  • Declaration and Authorized Signatory

To complete the VAT filing in Dubai, the taxpayer needs to fill in various boxes containing the necessary information.

vat filing in dubai

Tax year ends are important for businesses who cannot recover all of their input VAT and need to perform an input tax apportionment adjustment each year. These adjustments are only allowed in the first return following the tax year end. Throughout that tax year, you will be filling out VAT returns within the referenced VAT return period. VAT returns must be filed at least once every three months.

Nevertheless, businesses may be required to file their VAT returns monthly in some cases. The VAT filing period can be found on your VAT certificate. The Federal Tax Authority (FTA) requires that all businesses registered under VAT complete VAT return filing services, UAE within the given deadline.

On a monthly and quarterly basis, we offer quality and timely VAT filing in Dubai. You must submit your VAT return online through the FTA e-Services portal. A business that fails to file its VAT return on time or submits the wrong VAT filing will be subject to a VAT audit and fines from the FTA. For submitting a VAT return, you will need to fill out a form called VAT201.

Businesses affected by the VAT return period reference of 1 should include the input tax apportionment annual adjustment in their Dubai VAT filing. As of now, businesses do not need to worry, as this will be effective from the 1st January, 2019 onward. We are a Dubai-based professional firm of chartered accountants that offers auditing and accounting services. Our team of professional accountants, auditors, and business consultants has extensive knowledge and experience in accounting, auditing, and consulting.

Scope of Work for VAT Return Filing

A VAT expert will visit your company on a monthly or quarterly basis to collect and compile financial information for filing the VAT Return. At the end of each VAT return period, our VAT return filing services Dubai will prepare the VAT filing in Dubai as per the rules and regulations of the FTA on behalf of your company. The VAT return filing will be completed within the specified time frame in each tax period. Our team will ensure that all financial operations of your company are VAT compliant and must follow the VAT laws as per FTA.

The VAT filing related transactions will be reviewed and verified to ensure that the correct amount of output tax is being charged on sales and that the VAT charged by the suppliers is correctly claimed. To avoid VAT fines from FTA, we will provide suggestions and opinions according to the latest VAT trends and updates. To ensure VAT compliance, a random review of the books of accounts and document maintenance is performed.

Our VAT specialists will be able to assist your company in filing VAT in Dubai if you contact our FTA representatives. (if required)

Filing of a VAT Return

UAE businesses must have complete VAT compliance and adhere to all the rules and regulations outlined in the FTA, such as on-time VAT return filing in dubai, creating and using an appropriate VAT invoice, maintaining proper books of accounts with proper accounting and bookkeeping, and many other mandatory procedures.

Our VAT filing services in Dubai cover a wide range of topics. In addition to providing the best VAT services, we assist businesses in avoiding VAT fines and penalties by guiding them in the right direction. Many companies in the UAE rely on us to provide the best and timely VAT filing in Dubai. Let our VAT return filing services in Dubai, UAE will handle all your worries related to VAT. For VAT return filing service contact us today!

Frequently Asked Questions (FAQ's)