All you know about VAT Registration Service in UAE The introduction of Value Added Tax (VAT) in UAE, brings with it a lot of opportunities and challenges equally. It is one of the most complex and burdensome tax systems in which companies find difficult to cope with. A trained professional who can guide you on the Do’s and Don’ts of the system and who can act as a 3rd party between you and federal tax authority i.e more than mandatory. The Value-added Tax (VAT) in UAE will implement on 1st January 2018. The VAT will be introduced at a rate of 5% on goods and services with some limited exceptions including basic food items, healthcare, and education. VAT Registration in UAE (United Arab Emirates) is compulsory for companies and individuals doing businesses in this Country, having an annual turnover of more than AED 375,000/-. The Value Added Tax (VAT) is an indirect tax added to goods and services provided by companies and individuals within the UAE. Registered companies and individuals will have to submit a return to the FTA monthly or quarterly and pay the tax collected. The VAT in UAE is very similar to VAT implemented in European and other countries around the globe. The VAT will be paid only by the final consumer as registered companies will be able to claim back any VAT paid. Documents & information required for VAT Registration: VAT Registration in UAE Before applying for VAT Registration, the lists of documents are required to be on file at all times. The soft-copies of the documents should also be uploaded along with the application of VAT Registration. Documents identifying the authorized signatory e.g. passport copy, Emirates ID. Trade license copy of the company. Other official documents authorizing the entity to conduct activities within the UAE e.g. articles of association, certificate of incorporation power of legal executive etc. Business activities Description. Turnover for the full 1 year in AED. Supporting documents for 1 year of sales. Expected turnover in next 30 days of business. An estimated value of imports for one year. An estimated value of exports for one year.
Whether you expect to deal with GCC suppliers. Supporting documents for customs registration in each emirate if applicable, Bank account details. There is also a voluntary registration option for companies that want to be VAT registered. Companies with a turnover of 187,000AED or more will register for VAT as well from 1 January 2018. VAT Consultancy Service in UAE Our Practical Guide To Building VAT Registration in UAE and Implementation, taking your Business to the next level. The UAE businesses are meeting quite a no of challenges while implementing VAT in their business stream. As VAT is a newly affirmed concept in the country, it requires qualified and experienced professionals to advise and assist the businesses, while complying in the initial stages of this transition. Alkhadim LLC VAT consultancy to help you out with our expertise and experience in this field. Conclusion Alkhadim LLC Dubai is undertaking any assignments from large to small organizations who wish to receive consultation our VAT support packages in all over Dubai, UAE. We are able to offer full tax agent services, accountancy, Manpower Service and VAT submission