VAT Registration
Streamlined VAT Registration Services in the UAE
Your Partner for Effortless VAT Compliance
What is VAT Registration?
VAT registration is the process by which businesses register with the tax authority to collect and remit Value Added Tax (VAT) on their sales. This process involves obtaining a VAT registration number, which officially recognizes the business as a taxable entity. Once registered, businesses are required to charge VAT on their taxable supplies and can also reclaim VAT paid on their purchases. VAT registration is essential for businesses that meet the required turnover threshold, ensuring compliance with tax laws.
Why is VAT Registration Important in the UAE?
VAT registration in the UAE is crucial for businesses to legally operate and comply with the country’s VAT regulations. Implemented on January 1, 2018, VAT in the UAE is a significant revenue source for the government. Proper registration allows businesses to charge VAT on their sales and reclaim VAT on their expenses, promoting financial transparency and accuracy. Non-compliance can result in hefty fines and legal penalties. Moreover, Furthermore, VAT registration enhances a business’s credibility and trustworthiness, making it easier to engage with customers, suppliers, and regulatory bodies.
How Can AEY Accounting Help?
AEY Accounting offers comprehensive assistance with VAT registration in the UAE. Our team of experts will meticulously guide you through the entire registration process, ensuring all necessary documentation is accurately prepared and submitted to the Federal Tax Authority (FTA). We help you obtain your VAT registration number and provide ongoing support to ensure compliance with all VAT regulations. Our comprehensive services encompass analyzing your business turnover to determine VAT obligations, preparing and filing the registration application, and delivering the
VAT certificate issued by the FTA. By partnering With AEY Accounting, you can navigate the complexities of VAT registration seamlessly, allowing you to focus on growing your business while ensuring full compliance with UAE tax laws.
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Whatever your question is, our team will lead you to the right direction.
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FAQ's
VAT registration in the UAE refers to the process by which businesses and individuals formally register with the Federal Tax Authority (FTA) to participate in the Value Added Tax (VAT) system.
When the taxable turnover of the company exceeds either voluntary AED 187,500 or mandatory threshold AED 375,000.
Trade license, emirates ID copy, passport copy, memorandum of association and other legal documents are required to register for VAT.
FTA takes usually 21 working days for processing. Usually the application is approved before it.
The voluntary threshold for VAT registration in the UAE is AED 187,500 per year.
Mandatory threshold for VAT registration in the UAE is AED 375,500 per year.Businesses must register for VAT if their taxable supplies and imports exceed AED 375,000 per year within 30 days.
A penalty of AED 10,000 is imposed on businesses that fail to register for VAT within the required timeframe after crossing the mandatory registration threshold. Addtionally there will be variable penalty based on period of delay.
The VAT registration application serves to officially enroll businesses into the VAT system administered by the FTA. Such application is to be submitted online on the UAE FTA portal.
After verification of the documents provided, the federal tax authority approves the application and issues a tax certificate
TRN number refers to a code with 15 digits ending with 003. It is to be used on all financial documents such as sales invoices and official letter heads
Your business is special. Let us calculate your dreams
Whatever your question is, our team will lead you to the right direction.
