VAT Registration Services in Dubai, UAE
” Whether you own a small, medium, or established large business, you need to get registered for VAT in UAE under the Emirati VAT law. Registering your business under the UAE VAT law denotes that your business is recognized by the Government. VAT registration in UAE for your business entity will depend on the income generated from your business. Invest House (FZE) Accounting and Bookkeeping Services LLC is one of the leading consultancies in UAE, which offers outstanding VAT registration services in Dubai addition to VAT Booking, VAT accounting, VAT return filing, etc. “
UAE VAT Registration Online
If you are a business owner in UAE you need to get your business registered under the VAT law that has come on effect from 1st January 2018. Once a company is registered for VAT in Dubai, it must file VAT returns on a regular basis or as set by the authority.
VAT Registration is mandatory for companies and individuals doing businesses in the UAE if the annual turnover is more than AED 375,000/-.
The VAT registration processes in Dubai involve:
- Register for VAT
- Charge VAT on the invoices issued to the clienteles
- Announce the VAT to the Federal tax authorities through a VAT filing
Documents Required for VAT Registration in Dubai
1.Company contact details
2.Bank account details
3.Trade license copy
4.Memorandum of Association (MOA) of the company (For LLC)
4.Passport copy of the business owner
5.Emirates ID copy of the business owner
7.Sales Invoices / Local purchase order
VAT Registration Process
Basically, a business can opt for any of the two types of VAT registration in UAE:
1. Voluntary Registration
A company may opt for Voluntary Registration:
- If it does not meet the mandatory registration criteria,
- If the total value of its taxable supplies and imports or taxable expenses in the preceding 12 months surpasses the voluntary registration threshold,
- If the business foresees that the total value of its taxable supplies and imports or taxable expenses will exceed the voluntary registration threshold in the next 30 days.
The threshold for voluntary registration of a company is AED 187,500.
2. Mandatory Registration
It is mandatory that a business must register for VAT:
- If the total value of its taxable supplies and imports exceeds the required registration threshold over the previous 12 months
- If the business expects that the total value of its taxable supplies and imports will exceed the obligatory registration threshold in the next 30 days.
The threshold for mandatory registration of a business is AED 375,000. But this threshold is not applicable to foreign organizations.
VAT- exempt sectors
The following categories of supplies will be exempt from VAT:
- The supply of some financial services that explained in VAT legislation
- Residential properties
- Bare land
- Local passenger transport
How to Register for VAT in UAE
The registration for VAT in UAE is an online process that can be done through the VAT registration portal available on the website of www.tax.gov.ae.
Once the application is submitted, the FTA will review the information and documents submitted and approve the application if everything has met the requirements, and it will allow a Tax Registration Number (TRN).
Once the VAT registration process is over, the Ministry of Finance will issue a VAT certificate which is an official confirmation from the authority that the business is registered under the VAT Law in the UAE.
A VAT Certificate includes the following rudiments:
- VAT Registration Number
- Date of the VAT registration
- Issue date
- Address of the Registered entity
- First VAT return period
- VAT return due date
- Start and end dates of tax periods
Penalty for Non-Registration under VAT
Any company that fails to finish the VAT registration process under the deadline set by the Federal Tax Authority or if the company fails to submit registration after crossing the mandatory threshold limit of AED 3,75,000 is liable to pay a fine of AED 20,000.
The Importance of VAT Registration
Experts observe that the introduction of VAT in UAE will bring long-term benefits to the country’s economy and business owners. The significant reasons why VAT registration in Dubai is considered important include:
- It enhances the business profile
- It avoids unnecessary penalties
- It allows claiming VAT refunds
- It widens the market possibilities
Invest House (FZE) VAT Consultancy Services
Invest House (FZE) has been playing a significant role in dealing with the accounting and taxation services for business entities regardless of its size. The Invest House (FZE) experts are chosen because they are perceptive of the procedures of the VAT. They know the right decorum to be followed for the UAE VAT registration. That is why Invest House (FZE) is the first choice to be considered by the companies with regard to VAT Registration in the UAE. Invest House (FZE) not only provides VAT registration services in Dubai but also provides all kinds of VAT related services to help small, medium, and large-sized businesses grabbing maximum profit.
We recognize the importance and need for VAT Services for every business entity in the UAE, and deliver a wide range of VAT services, which include: –
- VAT Registration
- VAT Return Filing
- VAT Accounting & Booking
Invest House (FZE) provides a wide range of business services that include CFO Services, Auditing Services, Accounting & Bookkeeping Services, Accounting Software services, Due Diligence Services and Tax filing Services.
If you have any queries regarding VAT Registration in UAE or about your current business, feel good to discuss with us. Invest House (FZE) is there for your assistance!
Our expert will give you one-hour Free Consultation to keep your reservations away!
FAQs
Frequently Asked Questions on VAT Registration in UAE
UAE-resident businesses who make taxable supplies in the UAE must mandatorily register for VAT provided the value of their taxable supplies and imports in the last 12 months exceeded, or is expected to exceed in the next 30 days, the mandatory registration threshold of AED 375,000. Non-UAE-resident businesses who make taxable supplies in the UAE must also mandatorily register for VAT, regardless of the value of its taxable supplies and imports, where there is no other person obligated to pay the due tax on these supplies in the UAE.
UAE-resident businesses who make taxable supplies in the UAE may voluntarily register for VAT if the value of their taxable supplies and imports, or taxable expenses, incurred in the last 12 months exceeded, or is expected to exceed in the next 30 days, the voluntary registration threshold of AED 187,500.
The soft copy of the VAT registration certificate will be available on the registrants e-Services account dashboard. However, the registrant, where required, may access the service by clicking here.
20 business days from the date the completed application was received.