VAT REGISTRATION

There the two basic criteria for registration:-

• Voluntary Registration: When your taxable supplies reach the limit of AED 187,500/-
• Mandatory Registration: When your taxable supplies reach the limit of 375,000/- We are providing the VAT Registration services with 100% successful results.

VAT INVOICING

After registering your business under VAT, your business must issue a VAT invoice. All the businesses must follow the VAT invoice format issued by the FTA to avoid VAT fines and penalties in UAE. How to prepare a tax invoice in UAE is a very critical question and task for all businesses. Tax Registration Number (TRN) must be mentioned on all the tax invoices. If there is no TRN mentioned on the tax invoice then the customer should not pay VAT.

VAT ACCOUNTING

As per the Federal Tax Authority rules and regulations every registered business must follow the VAT Accounting principles to avoid the risk of penalties. We are providing you best VAT Accounting services.

VAT CONSULTANCY

We have a strong team to provide you the best consultancy services to solve your Accounts and VAT related issue.VAT consultants help the business owners with efficient tax planning which will help the entrepreneurs to control the tax outflow, and manage working capital. VAT consultants can guide the businesses mainly through VAT Advisory services and VAT Compliance services.

VAT AUDIT

By conducting a VAT audit, the government will verify that whether the business is following all the VAT laws and implementing VAT as per the regulation of FTA. Through the VAT audit in UAE, FTA will check the VAT returns and VAT refunds submitted by the taxpayer. Hegal will entirely represent your business in front of the Federal Tax Authority (FTA). We are providing a VAT health check to ensure VAT compliance.

VAT RATES IN UAE

The types of VAT rates in the UAE are:

• Standard rated (5% VAT)
• Zero-rated (0% VAT)
• Exempted (No VAT)

ZERO-RATED VAT

• International transportation, and related supplies;
• Exports of goods and services outside the UAE;
• Certain investment grade precious metals (e.g. gold, silver, of 99% purity);
• Supplies of the certain sea, air, and land means of transportation (such as aircraft and ships);
• Newly constructed residential properties.

EXEMPTED VAT

• Local passenger transport
• Bare land – sale and lease
• Residential properties – sale and lease
• Supply of certain financial services

VAT COMPLIANCE & VAT RETURN FILING

VAT return filing in Dubai is mandatory for all taxable businesses. After applying for VAT registration, the business will get the Tax Registration Number (TRN). The standard tax period is three months (quarterly).

You will be required to file VAT returns once every three months as a minimum. However, in some cases, businesses may be required to file VAT returns monthly. VAT return filing period will be mentioned on your VAT certificate. All the businesses which are registered under VAT must complete the VAT return filing within the time frame given by the Federal Tax Authority (FTA).

VAT REFUND

Input VAT is the tax payable for items (goods and services) purchased by a business or taxable person in UAE. On the other hand, output VAT is collected tax on items sold by a business or taxable person in UAE. If your business is paying more tax as compared to the tax your business is collecting from the clients, then you are eligible to claim an FTA VAT refund in UAE. Hegal offers VAT refund services to help our clients with their VAT refund applications.

VAT VOLUNTARY DISCLOSURE

VAT Voluntary Disclosure form is provided by the FTA to the taxpayer who wants to notify the FTA of an error or omission in a tax return or tax refund application. VAT voluntary disclosure form requires a very keen consideration and it may well be worth-while obtaining professional advice from a registered tax consultant before making any voluntary disclosures so that the potential flow-on consequences can be considered and addressed.

VAT RECONSIDERATION

VAT reconsideration allows a taxable person to appeal for the review of the decision made by FTA. All the companies in UAE must be aware of the tax laws to run their businesses smoothly. Any business or a person who received a penalty from FTA can apply for VAT reconsideration in UAE within 20 business days after receiving the penalty. The authority will review the decision and might waive off the penalties if the business proves the case.

VAT DE-REGISTRATION (VAT NUMBER CANCELLATION)

It is common for businesses to de-register for VAT with the UAE Federal Tax Authority, also known as cancelation or termination of VAT registration. Only the FTA can approve a VAT deregistration in the UAE if the reasons for termination are valid and the necessary conditions are met. Upon registering with the FTA for the first time, businesses that do not exceed AED 187,00 in their first 12 months of operation or cease making taxable supplies can deregister from the VAT case.

VAT COURSES

The objective of our VAT training is to assist all the accountants, tax experts, and professionals across the UAE to understand the basic and technical mechanism of VAT in the UAE. Our VAT training courses in Dubai will ensure that your business is following the rules and regulations of the Federal Tax Authority (FTA). VAT training will enable you to implement VAT properly and efficiently in the organization.