How to file VAT Return in UAE

VAT Return filing in Dubai

VAT Return Filing in Dubai

Federal Tax Authority (FTA) has relieved the time duration of the first VAT return filing in Dubai. FTA has given relaxation to the business with regards to the first VAT Return filing as the first VAT Return period is from January 1, 2018, to May 31, 2018, and then quarterly afterward. The filing of the first VAT return must be before June 28, 2018. Some businesses have given 1 month and others have given 5 months.

What is VAT Return filing in UAE?

VAT Return is an official tax document that needs to be submitted to the Federal Tax Authority (FTA) at the period of time according to the tax period. VAT Return format should explain the details of input tax and output tax and some other information required for the submission of VAT Return.

It is necessary for all taxable businesses to keep their books in an organized and standardized form and must keep all the documents to avoid penalties and fines. All the accounts and books should be organized and must be in a standardized format in order to submit the VAT Return filing.

VAT Return will be filed by the Taxable person or the person who is authorized to submit VAT Return filing on behalf of the taxable person like the VAT Agent.

VAT Return Format

VAT Return format is available on the Federal Tax Authority (FTA) website with the title of ‘VAT201 – VAT Return’. To get the format of the VAT Return, you have to log in to the E-services portal of FTA by using your registered e-mail and password.

Late VAT Returns filing will get a penalty of AED 1,000 for the first time in the delay of the VAT Return submission and the penalty would be increased if the delay in VAT Return filing occurs again. There is an official and proper procedure for VAT return filing in UAE.

VAT Return Filing in UAE

The following steps should be taken care of before filing a VAT Return:

  1. All amounts should be in AED Currency
  2. All amounts should be rounded off to the nearest figure of the fills
  3. All mandatory fields should be filled

After VAT Filing, the details in the VAT Return Form, the net amount payable will be automatically calculated. In the case where the payable value is negative, you will have two options – To get a refund or to carry forward the amount to the next Tax period.

SAB is equipped with a team of thriving VAT specialists who can help your business to overcome expected roadblocks such as lack of familiarity with VAT rules & regulations, structure and compliance issues, lack of resources, and lack of a compliant accounting system. SAB is offering the best VAT services in Dubai.

Value Added Tax (VAT) shall be paid through an e-Dirham payment gateway which supports payments through an e-Dirham card or a credit card (Visa and Master cards only). SAB will assist you on how to file a VAT return in UAE. SAB is providing Tax Agent services. For more, Contact us NOW!

SAB is a Certified Tax Agent by Federal Tax Authority (FTA)

Leave a Reply

Your email address will not be published. Required fields are marked *

Powered by MASAR Chartered Accountants