Value-added tax or VAT is a form of indirect tax levied on the use or consumption of goods and services at each point of sale. Ultimately, the cost is borne by the end consumer. Companies and foundations charge VAT on behalf of the government. With the introduction of VAT in the United Arab Emirates on January 1, 2018, consumers are expected to pay 5% for the products or services they use. With the right VAT registration services in Dubai, Sharjah and across UAE, you can easily manage the VAT aspects of your business. Registration under UAE VAT Law includes the authorities' approval of your business. Talking to a VAT provider in the UAE facilitates all VAT-related processes and helps your business comply with the UAE's VAT laws and regulations. IBM GLOBAL is the leading online Dubai company VAT registration and dubai trade vat registration, in the United Arab Emirates and provides exclusive services for VAT such as online VAT registration, and VAT accounting and bookkeeping Dubai
Companies and individuals involved in any business activity whose sales volume exceeds the mandatory VAT registration UAE limit specified in the relevant national VAT laws must register for VAT. However, this threshold does not apply to foreign organizations.
Voluntary VAT registration in Dubai is optional when the company's turnover is below the mandatory VAT registration limit - the potential amount repaid upon purchase of the company and compliance costs to the tax administration must be carefully considered and reported before such a decision is made. Companies that are not VAT registered cannot charge VAT on their sales and cannot claim VAT on their input.
Companies need to record all business transactions that include:
Under the VAT law of the United Arab Emirates, there are two types of VAT registration in UAE. One is a mandatory VAT registration, and the other is optional VAT registration.
In the UAE, all businesses and individuals with annual sales of AED 375,000 or more must register for VAT. All individuals and businesses that comply with these limits must register VAT to continue their business activities in any UAE emirate.
In the United Arab Emirates, the VAT registration services takes place online, and anyone wishing to register for VAT can access the Federal Tax Authority (FTA) online portal to start the VAT registration process. Read More
The applicant has several aspects. Before starting the VAT registration process, consider whether you choose mandatory or voluntary registration, whether you want to register as an independent or as part of a tax group.
IBM Global provides VAT registration services in Dubai, UAE, and obtains a tax registration number (TRN) for a UAE company. A VAT advisor in Dubai will provide VAT registration to your business and guide you through the voluntary or mandatory VAT registration eligibility process. Read Less
Organizations are required to take steps to ensure that invoices issued under VAT are accurate and complete. According to the Federation of Tax Administration (FTA), in the UAE, there are two types of VAT invoices. If delivery is less than the specified amount, it is essential to maintain simplified VAT invoices, especially for supermarkets and the retail industry. However, if you deliver more than the specified amount, you will need to prepare a detailed invoice.
IBM Global experts can ensure that all invoices issued comply with negotiated terms and local regulations. Additionally, we ensure that all local billing requirements are met and that all supporting documents related to tax and legal requirements are available. With years of experience, IBM Global is well equipped to help you do business around the world. Read Less
VAT accounting is relatively new to UAE companies as VAT has just been introduced. All taxable businesses must keep their books orderly and evenly, and all documents should be kept to avoid fines and penalties. A fine of 10,000 dirhams will be levied if the taxable individual or company does not keep the required records, books, documents, and 50,000 dirhams levied on repeated violations.
IBM Global offers its VAT accounting services in Dubai, Sharjah and across UAE. Outsourcing VAT accounting services allows customers to focus on their business and reduce costs and pressure. IBM Global processes VAT and accounting/bookkeeping to prevent companies from being fined or fined. Call us now!
The VAT return must be filed within 28 days of the end of the taxable period, according to the specific date and period stated on the VAT application or VAT certificate. All taxpayers use the electronic services portal on the Federal Tax Authority's website to file their tax returns.
To make VAT filing in Dubai process smoother and easier for taxpayers, the Federal Tax Service (FTA) has released Dubai company VAT registration guide for users concerning VAT filing, tax payment, VAT refund. Read More
IBM Global offers her VAT filing service in Dubai quarterly and monthly based on the date on his VAT certificate for the company. VAT filing is mandatory for all United Arab Emirates companies. All UAE companies are required to file a VAT return with the Federal Tax Authority (FTA) quarterly or monthly. Read Less
Businesses in the UAE need to prepare for official and mandatory audits from 2019, as VAT has been introduced in the UAE for one year. All businesses must be ready to be audited by the UAE Federal Tax Authority (FTA). This practice ensures accurate bookkeeping and appropriate submission of VAT returns. Audits are performed at the workplace or the location specified by the Federal Tax Authority (FTA). The FTA notifies the company at least 5 days in advance. The FTA conducts tax audits during official opening hours.
Let IBM Global handle all tax formalities to avoid high VAT fines and penalties. High-quality tax agent services in the UAE soothe the mind and help your business grow. IBM Global audits to ensure that everything is in accordance with the requirements of the free trade agreement and comply with all laws issued by the government. Contact us for all kinds of tax-related services in Dubai, UAE. Read Less
IBM Global is pleased to provide online VAT consultancy services in Dubai and VAT training in Dubai and Sharjah, and across UAE. This specially designed VAT training program analyzes the rules and regulations of VAT in the UAE, the most important need to ensure the correct and accurate filing of VAT returns on time. It clearly shows the content, procedures, and management. Our VAT training in Dubai ensures that all procedures comply with FTA standards. VAT training is one of the most sought-after courses in Sharjah, Dubai, UAE.
Our training is an individual or group session that gives you a complete understanding of VAT in the UAE, covers all the important and essential topics, and gives you confidence when dealing with VAT legislation in Dubai. Read Less
Hiring VAT consultancy services in Dubai, UAE has lots of advantages and the online VAT registering process is also very simple with us. Obtain the assistance of professionals or VAT registration company Dubai who are experienced in VAT solutions. You can save more time and effort and we maintain confidential data for your business purposes. We also ensure proper VAT recording for your business. We help in VAT planning and improve the entire process of finance in Sharjah, Dubai and across UAE
To register VAT in Dubai, UAE, log in to https://eservices.tax.gov.ae and enter the required information to register for an e-service account. Then log in to your account and click Register VAT in Control Panel to start VAT registration.
If a "non-resident" provides taxable goods in the UAE, you must register with VAT unless the UAE resident is responsible for posting VAT on those goods. A non-resident can register for VAT in the UAE with the help of a tax adviser.
No, the registered taxable person will issue a tax invoice as specified in the free trade agreement. There are two types of invoices: simple tax invoices for supermarkets and retailers and detailed tax invoices.
When a refund request is submitted, authorities will review the application within 20 business days, notify the applicant (taxable person) by email and accept or reject the submitted request. If accepted, you will receive a refund within 5 business days.
No, Companies that provide exempted goods or services may not require input VAT to be paid at the time of purchase. The temporary sales tax paid is the company's expense.
Yes, taxes paid on the import of goods are entitled to a temporary consumption tax. It can be restored via the reverse charging mechanism.
Yes, Fuel costs may be required specifically for business purposes.
UAE VAT-exempt supplies in Dubai include financial services such as life insurance and life insurance reinsurance, Financial services not offered at explicit fees, rebates, commissions, rebates, or similar consideration, Residential buildings other than residential real estate subject to zero-rating Land and domestic transportation.