VAT Return Filing

VAT return filing is obligatory for all registered entities in the UAE, regardless of sales volume or business type. Jazara facilitates individuals and businesses in UAE with VAT return filing services, ensuring compliance with UAE VAT laws while offering comprehensive VAT-related solutions.

VAT Filing in UAE

VAT return filing involves submitting a tax report to the Federal Tax Authority by registered businesses before the due date. It’s a critical aspect of tax compliance and legal assurance, helping to avoid financial penalties and errors. Jazara provides expert VAT filing services in UAE, supporting businesses in their growth journey.

The VAT return form ‘VAT 201’ is accessible on the Emaratax portal, allowing registered users to log in and file their returns securely.

Tax Period for VAT Return Filing as per FTA

VAT return filing in UAE must be completed no later than the 28th day of the month following the tax period. Penalties apply for non-compliance, emphasizing the importance of timely and accurate filing.

Things to Be Taken Care of While Filing Your VAT Return

When filing your VAT Return in the UAE, ensure that your details, such as name, address, TRN, and other essential information, are accurately generated automatically. Additionally, remember the following key points:

• Currency and Rounding: The payable amount must be in UAE Dirhams (AED), and ensure that payable amounts are rounded off correctly.
• Mandatory Fields: Fill in all mandatory fields without omissions to avoid errors in your VAT Return.
• Zero Amounts: If there’s no amount to report, enter ‘0’ (Zero) accordingly.
• Emirate-wise Details: Provide details of taxable supplies, specifying them emirate-wise for accuracy.

Importance of Accurate and Timely VAT Filing

Accurate and timely VAT filing is crucial for several reasons:

• Penalty Avoidance: It helps avoid penalties imposed for late or incorrect filings.
• Input Tax Reimbursement: Ensures reimbursement of input tax and tax on imports through the Reverse Charge Mechanism.
• Error Reduction: Minimizes the risk of errors, enhancing the credibility and goodwill of your business in the market.

Particulars to Be Furnished Under Taxable Supplies

• Standard Rated Supplies: Include sales of goods and services subject to VAT, discounted sales, deposits received, and more. Exclude sales of goods located within designated zones and out-of-scope supplies.
• Standard Rated Expenses: Detail expenses for goods or services purchased for business purposes, excluding exempt or zero-rated purchases.
• Zero Rated Supplies: Provide details of exports of goods and services outside the UAE, and other zero-rated supplies.
• Exempt Supplies: Include supplies of certain financial services, residential buildings, bare land, and local passenger transport.

Important Points to Note

• The VAT Return form is named VAT 201, while the form to claim input refund is VAT 311.
• Submit a “nil” VAT Return if there are no business transactions for the Tax Period.
• Report adjustments in the pre-populated VAT amount on imports in case of errors at customs.
• Late payment penalties range from 2% to 1% daily for unpaid taxes.
• After completing the entry process, the net payable amount is automatically calculated.

Scope of Work for VAT Return Filing

Our VAT experts can assist and support you with the following services:

• Our VAT expert will visit your company on a monthly or quarterly basis to gather and compile the financial information for filing the VAT Return.
• At the end of each VAT return period, we will prepare the VAT return as per the rules and regulations of the FTA on behalf of your company.
• Jazara will ensure that the VAT returns are filed within the specified time in each tax period.
• We will ensure that all the financial operations of your company are VAT compliant and must follow the VAT laws as per FTA.
• Jazara will review and verify the VAT related transactions to ensure that the correct VAT amount is being charged on sales as output tax and the VAT charged by the supplier is claimed correctly.
• We will provide suggestions and opinions as per the latest VAT trends and updates to ensure compliance to avoid VAT fines from FTA.
• A random review of the books of accounts and document maintenance to ensure VAT compliance.
• Our VAT experts will surely be available to represent your company in case of a VAT audit from the FTA representatives. (If required)

Jazara’s Role in VAT Return Filing

Jazara offers tailored VAT return filing services in UAE, catering to diverse business needs. Our expert team provides guidance, training, and error-free filing, ensuring compliance with UAE VAT laws. Additionally, we offer consultancy services in CFO services, auditing, accounting, and software solutions, facilitating comprehensive business support.

If you have queries regarding VAT return filing or require assistance with your business, reach out to Jazara for a complimentary one-hour consultation. Our experts are dedicated to resolving your uncertainties and providing tailored solutions for your business needs.

VAT Return Filing for International Companies

International companies selling goods in the UAE must register for VAT before commencing operations, including sales through online platforms like Amazon. VAT registration is mandatory for Amazon sellers, ensuring compliance with UAE tax regulations.

VAT Return Filing for Amazon Sellers

Amazon sellers in UAE are required to register for VAT and charge the standard 5% VAT rate on sales. Compliance with VAT regulations is essential for businesses operating on e-commerce platforms, facilitating legal assurance and market credibility.

Why JAZARA for VAT Return Filing?

• Expertise: Our team knows UAE VAT laws inside out.
• Tailored Service: We adapt to your filing needs.
• Timely Filing: Avoid penalties with our prompt submissions.
• Accuracy Check: We meticulously review transactions to minimize errors.
• Stay Updated: Benefit from our insights into VAT trends.
• Document Maintenance: We keep your records organized for audits.
• Audit Representation: Trust us to represent you during VAT audits.
• Comprehensive Services: Access a range of financial consultancy services.
• Client-Centric Approach: Your satisfaction is our priority.
• Free Consultation: Get expert advice with our complimentary session.