VAT Return Filing Services in Dubai
Alsun for VAT return filing services in UAE is a tax agency registered with the Federal Tax Authority
VAT Return Filing in Dubai
vat return filing services in uae are a crucial part of an effective indirect tax strategy. However, learning vat return filing uae for your business can sometimes be difficult and subject to long delays. Taxpayers need to know not only when they are eligible for VAT return filling Dubai, but also how to get a VAT return within a short period of time.
If you need help or need expert guidance to submit the VAT return filling reports, our expert at Alsun is ready to assist you in full compliance with FTA regulations
How We Do VAT Filing In Dubai, UAE
Speaking about VAT Return Filing Services, the Federal Tax Authority portal is designed to accept online returns only. Therefore, taxpayers must manually fill in VAT purchases, sales, inputs, outputs, etc. VAT Form 201 is generally categorised into seven sections as follows:
- Declaration and authorised signatory
- Taxpayer details
- VAT return period
- VAT on sales and all other outputs
- VAT on expenses and all other inputs
- Net VAT due
- Additional reporting requirements
- Declaration and authorised signatory
Documents required for VAT Return Filing
The documents required to apply for VAT return filing services in the UAE include:
- A copy of the trade license
- A copy of the employer’s and partners’ passports
- A copy of the owner’s and partners’ Emirates ID
- The company’s contact details and address
- Bank account details
- Monthly income statement for 2017 to date as per FTA format
- Nature of business and activities undertaken.
- Expected turnover in the next 30 days
- Customs registration details (if applicable)
- Authorised signatories for Emirates ID, passport and authorisation documents
Once all the documents are submitted, the Authority will review the application.
If all requirements are met, the application will be approved by the FTA, and a Tax Registration Number (TRN) will be issued within 2-3 weeks. The registration process for a tax group starts with a single company, as detailed above, and then the details of the group are listed. A fine of AED 20,000 will be imposed if a taxable person fails to register for VAT within 30 days.
The procedure for VAT Return Filing Services
The UAE imposes VAT on the consumption or use of goods and services, and the end consumer bears the full cost. The UAE levies VAT on tax-registered businesses at a rate of 5% on the taxable supply of goods or services at each step of the supply chain. However, businesses collect and account for VAT on behalf of the government.
Alsun for VAT return filing services in uae is a Federal Tax Authority-registered tax agency with professionals dedicated to customer satisfaction and quality service, and has an extensive network of VAT professionals with an in-depth understanding and experience in VAT return procedures.
Our experts can help your organisation develop and improve relevant business processes to reduce the time and administrative costs associated with filing applications and increase your chances of success.
What is the VAT Audit?
A vat audit procedure in uae is the procedure through which the Federal Tax Authority verifies the extent to which a taxable person is complying with the provisions of the Tax Procedures Law. The Authority takes several measures to do so, including:
- Conducting a tax audit at its headquarters, the place of work of the person subject to the audit, or the place where he carries out his activities or stores goods and merchandise.
- Closing the place of work of the person subject to the audit if there are serious reasons to believe that he is participating in evading his tax obligations or that failure to close the place would hinder the audit procedures.
- Examining financial records and accounts and obtaining copies thereof.
- Taking samples of devices, goods or other assets related to the work of the person subject to the tax audit.
What Factors Included in VAT Refund Services in Dubai, UAE?
By following some conditions and guidelines, you can recover the value-added tax for individuals. All you have to do is make sure that the following conditions are met:
- Verify the tax registration number and add it in English.
- Your name or your interest as registered in your account in the tax file and the declarations submitted annually and filled in in Arabic.
- Verify all the information recorded in the refund request, and verify all data accurately when filling out the request.
- When submitting a request to refund the value-added tax in UAE dirhams, you must verify the excess value-added tax that can be recovered through the previous declarations that were submitted until reaching the last tax return, and administrative fines are deducted from it, except for the fine for late registration in the value-added tax records.
- The refunded amount must be equal to or less than the value of the value-added tax that can be recovered.
- The amount to be refunded is calculated and verified before registering it in the value-added tax refund request and is in UAE dirhams.
Alsun Tax Services in Dubai
Alsun specialises in the field of value-added tax. We provide integrated and specialised consulting services to individuals and companies, with the aim of enhancing their knowledge and understanding of how to implement the laws and tax systems in force in the Emirates. Our service is as follows:
- Registration for VAT
- Preparing and submitting tax returns
- Tax refund request
- Tax consulting
- Review and amend tax returns
- Tax examination
FAQs
Do you need an accountant to file a VAT return?
There are several ways to file your VAT return; you can submit it online yourself, accountant, or by a professional tax agency. You must file the VAT return on time to avoid penalties.
How much does it cost to submit a VAT return?
The cost depends on the size and nature of your business. To get an accurate quote, contact Alsun Tax Agency and we’ll recommend the most suitable plan for you.
Can I file my VAT return myself?
Yes, but you have to know the process to avoid errors and penalties.