About This service
The value-added tax (VAT), which came into effect from January 1, 2018, in UAE, is a consumption based tax which will be applicable at each stage of the ‘supply chain’. That means, any UAE business making a taxable supply of goods and services will have to pay VAT on that supply. The UAE VAT is based on the same concept as followed by the other countries which use this tax system, however, the standard rate of VAT is fixed at 5% for all taxable supplies in UAE..
Not all companies supplying goods and services must register for VAT, but only those registering incomes above the 375,000 AED. Also, VAT registration is voluntary for companies with incomes below 187,500 AED. The main advantage of VAT registration is that companies can be refunded for the amount paid from the collection of the new tax following the submission of the tax returns. VAT returns will be filed electronically at the end of the taxable period or on a quarterly basis.
It should be noted that non-resident Companies or individuals with economic activities in the UAE are also required to register for VAT here.
All VAT invoices must be kept for a period of 5 years by all VAT taxpayers.
The registration process is simple and local companies can benefit from assistance from our accountants in Dubai when applying for a VAT number.
The standard VAT rate is 5%, which is one of the lowest rates at global level. Just like other countries, the UAE government has also introduced reduced VAT rates and exemptions for certain products and services.
- Registration of entities under UAE VAT
- Filling of returns monthly & quarterly as required
- preparation of necessary report as required in submission of VAT return
- Book-Keeping and accounting of business transactions is not included in this plan (visit our services for book keeping and accounting)
- The VAT will be paid by a business (with annual turnover above Dh375,000) in UAE on any of their taxable supplies of goods and services. The tax is applicable at each stage of the supply chain. The VAT cost is ultimately borne by the end consumer when they pay the actual price (base price + VAT) at the time of purchasing a taxable product/service.
- Wholesale Traders
- E Commerce Suppliers
- Goods Distributors
- Service Providers
- Business registered under UAE VAT
- Purchase Plan
- Provide information, details & documents as required
- Get your draft return and computation
- Get copy of return filled
- Purchase & sale register
- Payment challan of VAT
- The documents needed shall depend on the service at a particular point of time. The same shall be communicated to you by our experts based on your requirements