VAT Registration Services in Dubai, UAE
Running a business in Dubai comes with tax obligations. Avyanco guides you through the entire VAT registration process to help you remain compliant and avoid fines.
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Avyanco, Your VAT-Management Partner, Assists You with the entire VAT Registration Process
By registering for VAT, you bring more credibility to your business as you receive a TRN (Tax Registration Number). VAT registration is also mandatory in certain scenarios where non-registration can lead to penalties and other risks associated with non-compliance.
Avyanco has a team of VAT experts with in-depth and up-to-date knowledge of complex FTA guidelines. Our experienced VAT advisors offer comprehensive VAT registration services in the UAE to help you through each step of the process.
Types of VAT Registration
There are two types of VAT registrations in the UAE. The type of VAT registration applicable to your business depends on your company’s past and expected annual turnover.
Mandatory VAT Registration
Businesses with annual taxable income that exceeds AED 375,000 are legally required to register for VAT. This type of registration is called mandatory VAT registration. It allows you to collect VAT on transactions legally. Avyanco assists you in effectively meeting all the mandatory VAT registration requirements.
Voluntary VAT Registration
If your annual turnover falls between AED 187,500 and 375,000, you can choose voluntary VAT registration. This provides your company with a TRN and the benefit of leveraging input tax recovery.
Avyanco’s VAT experts carefully assess your business if voluntary registration is ideal for your company or not.
Documents Required for VAT Registration in UAE
FTA requires a list of documents to grant VAT registration in TRN in Dubai. These documents include:
- Trade licence
- Certificate of incorporation
- Articles of association
- Power of Attorney establishing signing authority
- Detailed description of business activities
- 12 months of sales invoices establishing turnover
- bank account details.
- ID or passport for identity check.
- Customs registration docs, if needed
- Expected turnover for the next 30 days
- Consent on dealing with GCC customers or suppliers
- Estimate one-year import value from GCC countries
- Estimate one-year export value from GCC countries
Avyanco ensures you have all the required documents before proceeding with the registration process.
Step-by-Step Process for Smooth VAT Registration in Dubai, UAE
The VAT registration process is online and processed through the FTA portal.
- You must log in to the portal on FTA’s official website.
- Provide extensive business and tax-related information in the form and submit it
- Submit all the necessary attachments and bank account details
- If the application is approved, you will receive a TRN.
The Ministry of Finance issues a VAT certificate once the procedure is successfully completed. This certificate acts as legal proof that your business is VAT-registered and compliant with VAT law in the UAE.
How VAT Registration Services by Avyanco Can Help
VAT registration is mandatory for certain businesses. Even if you choose voluntary registration, you have to follow each step carefully for a successful application. Failure to comply may result in non-compliance penalties. Also, the registration process has a few complexities where you must consult an expert.
Avyanco’s professional VAT advisory team mitigates all registration challenges and submits your application following updated FTA regulations. We are a client-focused company that adds value to our clients’ businesses and fulfils all your VAT registration and compliance requirements.
Why VAT Registration in Dubai is Important?
Why Vat Registration In Dubai Is Of Prime Importance To Any Business Setup In Dubai, UAE:
- Worldwide authentication of the company registration.
- It boosts the business profile
- One may claim for VAT refunds
- It helps to grab a mass market
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VAT = Value Added Tax levied on the consumption or use of goods and services at each point of sale. It is in existence in more than 180 countries around the world. The end-consumer ultimately bears the cost.
All local and international businesses in the UAE must register for VAT if their total taxable turnover exceeds the threshold of AED 375,000. Registration must be completed within 30 days of crossing the threshold, or else the business might face fines or penalties. Businesses not meeting the required registration threshold of AED 375,000 can still voluntarily register for VAT if their turnover threshold reaches AED 1,85,000.
In-order to obtain VAT Certificate from the Federal Tax Authority the applicant must consider various aspects such as, whether to register as
- Voluntary Applicant
- Mandatory Registrant
- Tax Group
- Standalone
VAT Certificate is a Statutory Document issued by the Federal tax Authority confirming the registration of the applicant mentioning the Tax Registration Number (TRN) & the period for which the Tax Returns need to be filed.
In terms of Standard Rated Supplies, the Percentage of VAT is 5%. However, there are Exempt & Zero-Rated Supplies as well.
Once the Tax Period & the frequency of VAT Return filing in UAE i.e. whether Monthly or Quarterly is defined in the Tax Certificate then accordingly the company has to file its tax returns on the 28th of the month following the end of the tax period.
Penalty in-case of failure of the registrant to submit a tax return within the timeframe specified by the tax law. AED 1,000 for the first time and AED 2,000 in case of repetition within 24 months.