VAT Registration is mandatory for companies and individuals doing businesses in the UAE, having an annual turnover of more than AED 375,000/-. All companies/individuals coming under the above threshold limit (subject to the provisions of the relevant law) have to register for VAT. Only VAT-registered companies will be permitted to claim Input Tax Credit on VAT paid on their purchases, which will be deducted from VAT liability on sales. Our team of professional experts ensures that you do not face any difficulty in registering or deregistering your business for VAT.

A VAT return summarizes the value of the supplies and purchases a taxable person has made during the tax period, and shows the taxable person’s VAT liability. A VAT return summarizes the value of the supplies and purchases a taxable person has made during the tax period and shows the taxable person’s VAT liability. VAT Returns Filing is done through the online portal of the Federal Tax Authority (FTA). The form used for VAT return filing is called Form VAT 201. A taxable person is required to submit a VAT return in the UAE in the prescribed format provided by the FTA, within 28 days of the conclusion of each Tax period, per the requirements of UAE VAT law.

Our Tax professionals can support you in the following areas:

a) We will visit your office on a periodical basis to compile the information for filing the VAT Return.

b) We prepare the VAT return on behalf of your company in accordance with the provisions of UAE VAT law.

c) We ensure that the VAT returns are filed within the specified time in each tax period.

d) Optimal Tax Planning for the company will be done.

VAT Health Check are recommendations given by an experienced VAT consultant to streamline the VAT affairs of your business and minimize potential future complications with the VAT Department. A VAT Health Check includes an extensive review of VAT returns, transactional analysis of the company’s current transaction scenarios, upkeep of tax records, documentation formats (invoices and Tax Credit Notes), VAT compliance of the invoice received from the supplier, and significant high-risk compliance areas.

When the input tax is greater than the output tax on a VAT return, the taxpayer can request a VAT refund after filing their VAT return. The VAT 311 form, accessible on the FTA portal, can be used to initiate the process. The tax registrants may start the refund request process either when filing the VAT return or after its submission. The Authority has not set a time limit for submitting a refund request. Therefore, tax filers are eligible to submit a refund request at any time while they are still owed a credit.

A form provided by the Federal Tax Authority (“FTA”) pursuant to which the Taxpayer notifies the FTA of an error or omission in a Tax Return, Tax Assessment, or Tax Refund application. To submit voluntary disclosures, Form VAT 211 is used in the FTA Portal. Before making any voluntary disclosures, it could be wise to enlist the help of a qualified tax professional to assess and manage any potential consequences, as there is a fixed penalty for the usage of Voluntary Disclosure forms.

An official document used to settle VAT penalties and interest for non-compliance with United Arab Emirates legislation. This application is submitted if you agree with the authority’s decision but use the methods previously set out by the FTA to waive the penalty. To request a penalty waiver, one must first request a reconsideration, then file an appeal with the TDRC, and then submit a request for a reduction or exemption per Cabinet Decision No. 51 of 2021.

At Accuvat we have qualified tax experts who can assist you in setting up the perfect VAT system for your business. Whether it’s a service industry or trading of goods, we have got your back and will guide you as well as implement the VAT system for you.

Following are the steps involved in VAT implementation services:

a) Understanding of the business environment

b) Training sessions

c) Analysis of VAT impact on business

d) Registration

e) VAT invoicing

f) IT migration

g) Filing of VAT return

The complexities involved in the operation of VAT can lead to errors at some point which can have significant consequences. Our Tax Agents can be a legal representative for your company before the FTA, assist in any communication with the FTA, assist in providing documents in Arabic during a VAT Audit and help in avoiding any unpredictable fine by giving the right advice as per the laws and regulations.

The provision for a registered taxable person to cancel his/her VAT registration. It means de-activation of the registration and the VAT number. Only companies and individuals registered under FTA may de-register from VAT, and the process is done online. A registrant must submit their application for VAT deregistration within 20 business days, with the late fee at AED 10,000.