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Businesses that do business in the UAE need to think about the Value Added Tax (VAT), which has a big effect on how much people pay. Under VAT laws, companies in the UAE need to register in order to follow the rules, grow into new markets, and get permission from the government. Consult Jazara if you need trustworthy VAT Services in Dubai or advice in the UAE. We can handle your VAT accounting, returns, and business registration and deregistration. Your business will run more smoothly.
The UAE imposed the Excise Tax in 2017 and the Value Added Tax (VAT) in 2018. Businesses must comply with Federal Law No. 2 of 2015 on Commercial Companies. Failure to retain accounting or VAT records might result in large fines. Working with UAE VAT specialists like Jazara provides smooth VAT management, error prevention, and fraud mitigation. Our VAT specialists have vast industry knowledge and provide excellent VAT services.
Businesses must use the Emaratax portal to file their tax reports online. Depending on the amount of money the business makes each year, VAT reports must usually be turned in within 28 days of the end of the tax period. The VAT 201 form contains important information like taxable person information, VAT on sales and costs, net VAT due, and declarations.
In the UAE, Jazara provides custom VAT consulting services that fully meet the needs of your unique business. Our expert advisers do in-depth analyses to get to know your business and give you clear advice on accounting, auditing, and VAT compliance. These are our services:
For VAT filing and compliance to go smoothly, you need to keep your books and do your accounts correctly. Closing books every three months makes it easier to report VAT correctly and prepare for tax checks.
All Dubai firms must register for VAT to comply with tax rules. The consulting company Jazara is one of the best in the UAE. They offer full Value-Added Tax registration services in Dubai, as well as VAT deregistration, accounting, and return filing.
For this process to work, you need to send in several papers, such as:
It is needed if the total value of taxed goods and imports has been more than AED 375,000 in the last 12 months or is likely to be more than this amount in the next 30 days.
Not required if the business doesn't meet the necessary requirements but has made or plans to make more than AED 187,500 in taxable imports and supplies in the last 12 months.
The process of registering for VAT is done online through the Emaratax site. After the application is sent in, the FTA reviews it and gives a Tax Registration Number (TRN) if it is approved. Then, the Federal Tax Authority provides a VAT with a certificate to prove registration.
People who don't register for VAT by the due date or after the threshold has been reached can be fined up to AED 10,000.
These changes are suitable for many reasons, like raising the image of your business, avoiding fines, getting a VAT refund, and finding new markets.
Businesses in the UAE with linked locations can apply for tax group registration under certain conditions to facilitate compliance with VAT rules.
Some industries are not subject to VAT. These include some banking services, residential properties, bare land, and local passenger transport.
No matter how much money they make, international companies that sell things made in the UAE to customers must register for VAT. It includes people who don't live in the UAE but sell on sites like Amazon. International businesses must do this before they can start selling in the UAE, especially on online stores like Amazon.
Businesses may find it hard to understand the VAT rules in the UAE. An experienced group of chartered accountants at Jazara focuses on UAE tax rules and offers complete VAT services that are tailored to your needs. We make sure that FTA rules are followed, from VAT registration to tax return filing. Check out our many services, such as CFO services, auditing, accounting, and VAT consulting. Get in touch with us right away for a free one-hour consultation to talk about your VAT issues and find the best ways to run your business.
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