Expert VAT Services for Businesses
At Finhub Middle East, we specialize in providing expert VAT services tailored for businesses of all sizes. Our team of experienced VAT specialists is dedicated to helping you navigate the complexities of VAT compliance and optimization. Whether you need assistance with VAT registration, filing, refund or advisory services,
1. Definition and Concept of VAT
2. VAT Registration
3. VAT Filing
4. VAT Refund
5. VAT De-Registration
6. Understanding VAT Exemption and Zero-Rated
VAT (Value Added Tax) is a consumption tax levied on the sale of goods and services at each stage of the supply chain. The standard rate in the UAE is 5%.
VAT was introduced in the UAE on January 1, 2018, as part of a broader initiative by the Gulf Cooperation Council (GCC) countries to diversify their economies and generate additional revenue.
VAT was introduced to provide a sustainable source of revenue for the government, reduce reliance on oil income, and fund various public services and infrastructure projects.
Businesses operating in the UAE that have an annual turnover exceeding AED 375,000 must register for VAT. Individuals and consumers are also affected as they bear the cost of VAT on goods and services.
VAT is applicable to most goods and services sold within the UAE. Certain items, such as basic food products, healthcare, and education, are either zero-rated or exempt.
VAT is collected by registered businesses at the point of sale and is remitted to the Federal Tax Authority (FTA) on a quarterly or annual basis, depending on the business’s filing requirements. Businesses must maintain accurate records to ensure compliance with VAT regulations.
Streamline Your Vat Registration Process with
Finhub Middle East
Registering for VAT can be a complex and daunting task for many businesses. At Finhub Middle East, we specialize in providing expert VAT registration services that simplify the process, ensuring compliance with local and international regulations. Whether you’re a small business or a multinational corporation, our experienced team is here to help you navigate the VAT landscape with ease.
Why VAT Registration is Essential for
Businesses in the UAE
The VAT Registration Process: Step-by-Step
What to Do After Registering for VAT?
Maintain Records
Keep comprehensive records of all transactions, VAT invoices, receipts, and any correspondence with the FTA for at least five years, as required by law.
Issue Tax Invoices
Ensure that all invoices issued comply with VAT regulations, including displaying the correct VAT amount and including required information, such as the tax registration number.
File VAT Returns
Familiarize yourself with the VAT return filing process, including deadlines and the information required. Typically, returns are filed quarterly or annually.
Consider Professional Advice
If necessary, consult with tax advisors or accountants experienced in UAE VAT to help navigate complexities and ensure compliance.
Why Partner with Us for VAT Registration?
Expertise and Experience
Our team comprises highly skilled VAT consultants with extensive experience in the UAE VAT landscape. We offer a wealth of knowledge to facilitate a smooth registration process.
Tailored Solutions
We understand that every business is unique. Our services are customized to address the specific needs and challenges faced by your business.
Commitment to Compliance
We prioritize your compliance with all VAT regulations, minimizing the risk of audits and penalties.
Common Questions About VAT Registration in UAE
Non-compliance with VAT registration requirements can result in substantial penalties, including fines and legal repercussions. It is crucial to register timely to mitigate these risks.
Typically, the VAT registration process takes between 5 to 10 business days, provided that all documentation is accurate and complete.
Businesses may claim input VAT on expenses incurred within six months prior to registration, provided these purchases are related to taxable supplies.
Phone
Visit office
Office 289, Mezzanine floor, Hamsah A building, Karama, Dubai, UAE
