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 […]
How will VAT affect the UAE’s construction industry VAT on Construction Industry: The construction industry plays the vital role in the UAE’s economy. As per the experts in the industry implementation of VAT is not an easy task for the construction companies, as the companies fall under pressure to get their undertakings in order in […]
VAT impact on Insurance VAT impact on insurance: The introduction of VAT (Value Added Tax) in the UAE is expected to have a noteworthy effect on insurance sector, although detailed rules are not yet confirmed. The government has decided to impose VAT on non-life insurance which will increase the cost of property premiums, health and […]
VAT Consultancy Services in UAE VAT consultancy services in UAE: From January 2018 the UAE is aiming to implement VAT (Value Added Tax). VAT is an indirect tax which is to be paid by the consumers and collected by businesses. The VAT will be applicable for most of the goods and services. The UAE government […]
New TAX & VAT Procedures Law In UAE VAT procedures law in UAE: The UAE President Sheikh Khalifa bin Zayed Al Nahyan issued the new law describing the TAX & VAT procedures. The Federal law for Tax Procedures put downs the foundation for the tax system in UAE, administration regulations, tax collections and describes the […]
Impact of VAT on retail industry impact of VAT on retail industry: The UAE is set to introduce VAT from January 01 2018. The extensive changes reflect throughout the UAE by the introduction of VAT, mainly on retail industry. If the retailers want to be competitive they have to provide best products and offers without […]
WHY VAT why VAT: In 1950’s VAT was introduced in France and it is practiced in more than 120 countries all over the world. VAT has become number of governments choice because it benefits both the business and consumer community alike. It is a source of generating revenue for the government and seen as effective […]