VAT Registration in UAE - A Step by Step Guide
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VAT Registration In UAE – A Step by Step Guide

Value Added Tax is a form of indirect tax levied on the consumption of services and goods at each point of sale. VAT is one of the most common types of tax applicable in most countries in the world. VAT is levied at all stages of the supply chain and is collected by businesses on the government’s behalf. If you are looking for VAT registration in UAE want to know the complete process then, here we mentioned a complete guide for you that will help you to understand the procedure of registration.

VAT registration in UAE permits businesses to make payments and reclaim tax. After the implementation of VAT in the United Arab Emirates, all companies’ financial records are accurate and up to date according to the guidelines set by the Federal Tax Authority. The main aim of introducing VAT in the country is to offer a new source of income which will be used to offer high-quality services to general public service.

What is VAT

VAT was introduced in the UAE on 1 January 2018. The general VAT rate is 5% and applies to most goods and services, with some goods and services subject to a 0% rate or an exemption from VAT. The 0% VAT rate applies to goods and services exported outside the VAT implementing Gulf Cooperation Council member states, international transportation, the supply of crude oil or Natural gas, the first supply of residential real estate, and certain specific areas, like healthcare and education.

Further, as per the Cabinet Decision on 4 June 2020, a person will be considered as being ‘outside the state’, and thus fall under zero-rating export of services. If they only have a short-term presence in the state of less than a month and the presence is not effectively connected with the supply. A VAT exemption applies to some financial services, and to the subsequent supply of residential real estate. Further, transactions in bare land and domestic passenger transport are also exempt from VAT.

Process For VAT registration in UAE

Here are the steps for VAT registration in Dubai, UAE.

• Go to FTA online portal
• Sign up for a new account
• After successfully sign-up, start the registration procedure as guided on the FTA website.
• Enter relevant details and submit the application
• On successful submission, a Tax Registration Number (TRN) would be provided to the user.

The sign-up details would be utilized as your login password. A user requires to verify the email address and other details as and when needed.

Documents Required for VAT Registration in UAE

The list of essential documents required for VAT registration in UAE is as below:

• Copy of trade license
• Passport copy of the owners and the partners
• Emirates ID of the owners and the partners
• Memorandum of Association
• Company’s bank account details and IBAN
• Details business turnover for the last 12 months (Balance Sheet, Audited Reports or Bank Statements)
• Customs Authority Registration code

VAT Services in Dubai

The services Dubai knows the tax system is essential for the businesses that’s why they will guide you properly during start business in Dubai, UAE. The VAT consultants will assist your business in smooth VAT implementation in the UAE. A professional tax agent will make sure the tax adherence method, they make all the legal procedure and manage records for VAT return filing. When businesses preparing themselves for VSAT that time businesses are facing different types of challenges. A professional team of tax experts that are certified by the FTA will help you to steer your business easily and effectively through the tax laws provide by the best VAT services Dubai.

Now businesses have to look at the business model afresh. Proper accounting records continuation would be one of the initial requirements for any business to bear the new law. Proper recording of all invoices, outflows, will be fundamental so that VAT return filing can be done in time without any errors with help of an experienced and reliable VAT consultant that can help you effectively simplify your VAT procedures.

To avail of the best VAT services Dubai, you require to find the best VAT tax agent that can provide you complete accounting and VAT services. At this time, outsourcing all accounting services would be an effective option for businesses that lack internal capabilities and sustainable resources for the implementation of VAT. A VAT consultant increases your performance of the business, operational capacity, and VAT compliance

Also read, How To Apply For VAT Registration In UAE

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