Vat and Tax Consultancy in UAE
What is Vat and How does it works in UAE?
Value Added Tax or VAT is a tax on the consumption or use of goods and services levied at each point of sale. VAT is a form of indirect tax and is levied in more than 180 countries around the world.
UAE introduced VAT on Jan 2018, the rate of vat is 5% and it will provide UAE a new source to be utilized in providing high-quality public services.
VAT-registered businesses collect the amount on behalf of the government; Consumers bear the VAT in the form of a 5% increase in the cost of taxable goods and services they purchase in the UAE.
UAE introduced VAT on Jan 2018, the rate of vat is 5% and it will provide UAE a new source to be utilized in providing high-quality public services.
VAT-registered businesses collect the amount on behalf of the government; Consumers bear the VAT in the form of a 5% increase in the cost of taxable goods and services they purchase in the UAE.
Who needs to Register?
A business must register for VAT if its taxable supplies and imports exceed AED 375,000 per annum. It is optional for businesses whose supplies and imports exceed AED 187,500 per annum.
A business house pays the government, the tax that it collects from its customers. At the same time, it receives a refund from the government on tax that it has paid to its suppliers.
A business house pays the government, the tax that it collects from its customers. At the same time, it receives a refund from the government on tax that it has paid to its suppliers.
Required Documents for VAT Registration
- Full Company License
- Passport of the Owner and Shareholders
- Tenancy Contract or Proof of Registered Address
- Corporate Bank Account Details
- Bank Account Statement (for 12 months)
- Custom Code (if eligible)
Required Documents for VAT Registration
- Full Company License
- Passport of the Owner and Shareholders
- Tenancy Contract or Proof of Registered Address
- Corporate Bank Account Details
- Bank Account Statement (for 12 months)
- Custom Code (if eligible)
Your Responsibility
VAT Return Filing
At the end of each tax period, VAT registered businesses or the 'taxable persons' must submit a 'VAT return' to Federal Tax Authority (FTA).
A VAT return summarises the value of the supplies and purchases a taxable person has made during the tax period, and shows the taxable person's VAT liability.
At the end of each tax period, VAT registered businesses or the 'taxable persons' must submit a 'VAT return' to Federal Tax Authority (FTA).
A VAT return summarises the value of the supplies and purchases a taxable person has made during the tax period, and shows the taxable person's VAT liability.
Your Responsibility
VAT Return Filing
At the end of each tax period, VAT registered businesses or the 'taxable persons' must submit a 'VAT return' to Federal Tax Authority (FTA).
A VAT return summarises the value of the supplies and purchases a taxable person has made during the tax period, and shows the taxable person's VAT liability.
At the end of each tax period, VAT registered businesses or the 'taxable persons' must submit a 'VAT return' to Federal Tax Authority (FTA).
A VAT return summarises 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 requirements and VAT regulations are being changed frequently, Altriga Group's team of tax experts ensures your company is VAT compliant by being updated in all of the government's regulations, and ensuring that you avoid getting penalties.
VAT requirements and VAT regulations are being changed frequently, Altriga Group's team of tax experts ensures your company is VAT compliant by being updated in all of the government's regulations, and ensuring that you avoid getting penalties.
Our Business Support Service
Take a look down below to view our unique suite of services.
- Accounting and Bookkeeping
- TAX and VAT Consultancy
- Audit Report
- Trademark Registration
Frequently Asked Questions
VAT applies equally on tax-registered businesses managed on the UAE mainland and in the free zones.
However, if the UAE Cabinet defines a certain free zone as a 'designated zone', it must be treated as outside the UAE for tax purposes. The transfer of goods between designated zones are tax-free.
However, if the UAE Cabinet defines a certain free zone as a 'designated zone', it must be treated as outside the UAE for tax purposes. The transfer of goods between designated zones are tax-free.
Yes, for non submission 1,000aed for 1st time delay and 2,000 aed for repetitive non compliance.
In case you failed to pay before the due date, the fee starts from 1% to 300% .
In case you failed to pay before the due date, the fee starts from 1% to 300% .
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Contact Us Today
Do you have a question about our services or a general inquiry? Contact us today by filling out the provided form. Our team would be more than happy to do everything they can to assist you.
Altriga DMCC
Our Contact Details
Office Address: Jumeirah Lake Towers, Dubai, United Arab Emirates
Phone: +971 4 578 6116
Email: info@altrigagroup.com
Phone: +971 4 578 6116
Email: info@altrigagroup.com
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