When importing to UAE, the Reverse Charge Mechanism is applicable if the goods or services are imported from outside the GCC countries. Normally, if a registered supplier makes a taxable supply then he needs to charge VAT and pay the same to the government. But, in case of reverse charge mechanism the responsibility of paying […]
Do your businesses grant VAT exemptions ? If your businesses are exempting any individual or organization, be cautious! – warns FTA. The authority reminded that all registered businesses have to collect value added tax (VAT) on all taxable transactions from customers. So, be careful while allowing VAT exemptions. You have to be careful that not […]
Wrong VAT filing would put you in trouble Even if you have filed your tax return, there is a high chance that there will be glitches in the filing, according to tax experts in the Kingdom. Wrong VAT filing troubles are soon going to haunt UAE businesses. One in every two companies don’t have adequate […]
VAT filing deadline on April 29th, 90,000 businesses to submit return 90,000 businesses registered for VAT are required to submit their tax return and pay taxes within April 29th, 2018, according to media reports quoting the Federal Tax authority (FTA). The first quarterly tax period for 85,000 businesses was by the end of […]
A step-by-step guide for filing VAT By following the below steps one can easily file VAT return: Login to the federal tax authority’s online portal using the registered username and password Go to VAT tab and then ‘VAT201-VAT returns tab’ To complete the form the following details are required: Details of the taxable person […]
VAT defaulters to be in trouble: The government has asked all businesses to file their VAT returns by April 29th. According to the Federal Decree-Law No. (8) for 2017, it’s compulsory to file VAT return before the 28th of every month. Khalid Ali Al Bustani, the Director General of FTA, encouraged all businesses to file their […]
VAT registration is mandatory for businesses in UAE whose annual turnover exceeds AED 375000 and for those which have an annual turnover of AED 187500 it’s voluntary. To register for VAT you have to follow the below steps: You have to access the federal tax authority’s online portal https://eservices.tax.gov.ae/en-us/ New users have to create an […]
You can file your return by following the below steps: Login to the Federal Tax Authority’s online portal using the registered username and password Go to VAT tab and then ‘VAT201-VAT returns’ To complete the form the following details are required: Details of the taxable person VAT return period VAT on sales and all other […]
How to register for VAT How to register for VAT in UAE: The UAE is on the way to implement VAT from January 2018. Now the businesses are getting ready to register for VAT. From 1st January 2018 5% VAT will be applied for both goods and services. VAT is a tax charged from consumers […]
Documents required for VAT registration in UAE: Are you ready to register for the VAT? You need to follow the requirements specifies by the federal tax authority, government of UAE. The ministry of finance will start registering companies that are above the yearly threshold for value added tax in the second half of this year […]