VAT Registration UAE: How to register your business for VAT/Tax?
VAT Registration: Latest updates
Business Registration for Value Added Tax (VAT) is now open. If your annual sale is more than AED 375,000 then you MUST register for VAT. The outcome of the registration will be a Tax Registration Number (TRN). You first need to create the login on FTA’s website. You can access the link for the VAT registration here
- Before you start your registration, please make sure you have following documents/information ready with you.
- Trade License(s)
- Certificate of Incorporation (Free Zone Companies)
- Certificate of Incorporation (if applicable)
- Articles of Association/ Partnership Agreement (if applicable)
- Contact Information
- Bank Account details
- Financial Statements
- Customs details (if applicable)
- Authorized Signatory documents
- Passport and Emirates ID of manager, owner and senior management
- Should you need assistance in VAT Registration, please reply this email and our VAT Consulting Team would be glad to help you to complete VAT registration.
It’s better to start this process from today to avoid any last minute non-compliance VAT penalties.
Last Updated on 29 June 2017 – Rules has been announced regarding ‘group registrations’ by the Ministry of Finance.These ‘group registrations’ will allow to companies those are in the same group to register as a ‘enterprise’ for VAT purposes under one VAT registration number, and thus have only a joint return having to be filed each quarter.
Compulsory registration for turnover over AED 375,000. Voluntary registration for turnover over AED 187,000
Registration opens from Oct 1 2017 and deadline is Dec 31st 2017. Voluntary/early registration allowed from July 1st 2017.
What are the VAT-related responsibilities of businesses?
All businesses in the UAE will need to record their financial transactions and ensure that their financial records are accurate and up to date. Businesses that meet the minimum annual turnover requirement (as evidenced by their financial records) will be required to register for VAT. Businesses that do not think that they should be VAT registered should maintain their financial records in any event, in case we need to establish whether they should be registered.
VAT-registered businesses generally:
- must charge VAT on taxable goods or services they supply;
- may reclaim any VAT they’ve paid on business-related goods or services;
- keep a range of business records which will allow the government to check that they have got things right
If you’re a VAT-registered business you must report the amount of VAT you’ve charged and the amount of VAT you’ve paid to the government on a regular basis. It will be a formal submission and it is likely that the reporting will be made online.
If you’ve charged more VAT than you’ve paid, you have to pay the difference to the government. If you’ve paid more VAT than you’ve charged, you can reclaim the difference.
VAT Registration Process
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Tel: +971 4 4518600
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