VAT REGISTRATION
KWS Fintech Services is one of the leading independent VAT specialist firms in the UAE
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 (Federal Tax Authority) monthly or quarterly and pay the tax collected. VAT in the UAE is very similar to VAT implemented in European and other countries around the world.
VAT will be paid only by the final consumer as registered companies will be able to claim back any VAT paid.Some goods and services such as transport, school fees, and finance commissions and interest are zero-rated or exempt. We are able to provide you with a full list upon request. As well Free zone companies above the stated threshold will have to registration for VAT. Companies that make supplies to foreign companies only, may apply for an exemption.
KWS Fintech Services is one of the leading independent specialist VAT firms in the UAE
“Whether you own a small, medium, or established large business, you need to get registered for VAT in UAE under the Emara tax law. Registering your business under the UAE VAT law denotes that your business is recognized by the Government.”
“VAT registration in UAE for your business entity will depend on the income generated from your business. KWS FINTECH SERVICES L.L.C-FZ is one of the leading consultancies in UAE, which offers outstanding VAT registration services in Dubai addition to VAT Booking, VAT accounting, VAT return filing, etc..“
VAT Registration is the process of listing your business with the government as active in production and sales. Charging VAT on any goods or services sold, Paying any VAT due to HMRC. The United Arab Emirates will implement Value-added Tax (VAT) on 1st January 2018. VAT will be introduced at a rate of 5% on goods and services with some limited exceptions including basic food items, healthcare, and education. Federal Decree Law No. 8/2017 and the cabinet and executive decisions offer guidelines on the law governing VAT implementation in the UAE.
VAT registration
Completion of the registration forms
Filing required documents with the tax authorities
Monitoring thresholds
De-registration when required
VAT return filing
Assist in completing VAT returns
Local and regionally centralized VAT compliance support
Updates on VAT laws and regulations
Additional VAT review and queries support
Automated checking and reconciliation exercises of transactions for VAT returns
Assist with compliance VAT-related queries
Complete compliance lifecycle management support
VAT refund and tax audit
Review and support in VAT refund reclaims
Provide support during VAT inspections
Online VAT Registration, The Following Documents are Required for VAT REGISTRATION
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Documents Required for VAT Registration Service in Dubai
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Below mentioned are the documents required for VAT registration in Dubai:
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Trade license copy of the company
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Passport copy or Emirates ID to prove the identity of the authorized party
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Certificate of Articles of Association of the company
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Description of business activities
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Supporting document for 12-month sales
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Expected turnover in the next 30 days
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The estimated value of exports for one year to all GCC countries
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Supporting documents for customs registration in the Emirates if applicable.
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Certificate of Incorporation of the company
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Certificate of Power of Attorney of the company
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Turnover for the last 12 months in AED
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Details of Bank Account
Registration Process KWS Fintech Services is one of the leading independent specialist VAT firms in the UAE
Voluntary Registration
A business may choose Voluntary Registration:
If the total value of its taxable supplies, imports, or taxable expenses in the previous 12 months exceeds the voluntary registration threshold
The voluntary registration barrier for a company is AED 187,500.
Mandatory Registration
Mandatory VAT registration is required for all businesses under below mentioned criteria:
If the total value of its taxable supplies and imports over the previous 12 months exceeds the minimum registration threshold.
If the company anticipates that the total value of its taxable supplies and imports will surpass the mandatory registration threshold within the next 30 days.
Every company has different criteria for VAT registration. The VAT registration threshold for mandatory and voluntary VAT registration.
KWS Fintech services through its experienced and professional VAT Compliance team is providing best VAT registration services in UAE and has the capability to assist you with the following services:
Businesses and individuals are not permitted to register for VAT if their taxable supply and imports were less than AED 187,500 in the previous 12 months or not expected to exceed AED 187,500 in the coming 30 days.
Any company that fails to complete the VAT registration process before the Federal Tax Authority’s deadline, or fails to submit registration after crossing the manual threshold limit, will be penalized AED 20,000.
Contact us at the Consulting WP office nearest to you or submit a business inquiry online.