VAT Return Filing in UAE

If you are worried about the tiresome and troublesome process of VAT return filing in UAE, we are here to help. FAME can help ease this problem for you with its expert and accurate VAT filing in the UAE. We ensure professional handholding throughout the filing of VAT returns in the UAE to guarantee compliance.

What is VAT Return Filing in UAE?

It is essential for businesses to collect VAT from the customers for the goods and services provided. You also pay VAT for the products or services you buy or import from your vendors. Thus, in a given period, you have several VAT collection and payment transactions. Reporting these transactions and calculating the net amount is the VAT return filing in UAE.

VAT return filing in UAE is a crucial requirement of entities under the UAE VAT laws. If you comply with it regularly, your credibility in the local market improves. the presence of proper VAT invoices also helps you in smooth dealing with customers and suppliers. Moreover, the VAT system encourages saving and investing on a personal level.

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VAT Return Filing Process

VAT filing in UAE requires an applicant to be VAT-registered in the UAE. We help you in this process to ensure its completeness, accuracy, and on-time submission.

The following are the steps of VAT filing in UAE:

Step 1: Log in to the Portal

There is no offline way to fill out the VAT returns form in the UAE. On your behalf, we visit the FTA’s online portal. Herein, we can see the e-Services section, on which we have to click on the option of return filing. For that, you’ll need to provide us with your login credentials (unique TIN and password) to log into the portal.

Step 2: Fill out the Form

The second step involves filling out the details in the application form. It requires the following necessary details:

We’ll review all the information to ensure correctness and that there are no blank spaces is essential before submission. After checking all the details, we submit the form.

Step 3: Pay the tax amount

After submission, the FTA will send a confirmation email. We will also make the due VAT payment on your behalf through any possible payment mediums. Thus, we ensure a smooth and precise process to avoid non-compliance penalties or duplication of work.

Our VAT Returns Filing Services

FAME Advisory is one of the pioneering names in the area of VAT consultancy in UAE. Our services help you comply with all the VAT requirements. Our services include assistance in VAT Compliance Services, VAT registration, deregistration, refunds, audits, health checks, and support. Besides these, you can also find proper support for VAT return filing in UAE to ensure your returns are error-free.

Our competent VAT consultants help small and big enterprises in the following aspects of VAT filing in UAE:

Preparing for VAT filing in UAE

Proper preparation before filing your returns is essential to ensure error-free process. So, we help you:

Create and maintain daily accounts for every VAT-related transaction, including sales and purchases
Create proper tax invoices with all necessary fields of information
Calculate the accurate VAT applicable to the transaction
Consider the VAT laws to see if the transaction is appropriately accounted for under these laws

Planning the VAT return filing process in UAE

VAT returns are to be filed every quarter. So, proper planning is needed to ensure on-time filing. Therefore, we keep your tax invoices and receipts ready for the calculations. We compile all the records and documents and keep them ready while filing the VAT returns. Recalculation and rechecking of the submitted documents is essential so that nothing is missed.

VAT returns for branch offices

Our VAT return filing services in UAE are also extended to foreign entities’ branch offices. These entities find it difficult to understand VAT laws in UAE and deal with the local authorities. We assist you in all these aspects to ensure accurate VAT filing in UAE.

VAT-related corrections

While helping you file accurate VAT returns in UAE, we also identify areas of concern in your accounting systems. We identify transactions that have not been recorded or accounted for properly. We correct these issues so that there is no error in the VAT return filing process in UAE.

Our VAT professionals ensure the on-time payment of VAT liabilities using proper mechanisms. Using our expertise, you can identify leakages in your accounting system, reduce the risk of incorrect tax payments, and avoid non-compliance penalties. Thus, FAME ensures the most appropriate VAT return services in UAE for your good.

For professional support with VAT return filing and to ensure your business stays fully compliant with UAE tax regulations, we invite you to reach out to Fame Advisory. Our Tax Compliance Services are carefully designed to assist you in meeting all your filing obligations with accuracy and timeliness. Additionally, our Tax Advisory Services offer expert guidance to help streamline your VAT processes and ensure that your business adheres to the highest standards of tax law. We would be honored to assist you with your VAT Return Filing needs and provide you with the reassurance that comes with expert advice in UAE taxation.

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FAQs on VAT Return Filing

What is the last date for VAT return in UAE?

A firm in UAE must file VAT returns within 28 days of the end of the VAT Return period. It means if your VAT return period is April to June, you must file your VAT returns in UAE by the July 28th.

The standard tax period is different for different businesses. If your annual turnover is above AED 150 million, the standard tax period is one month; it is quarterly, otherwise.

What happens if we forget to file VAT returns or submit inaccurate returns?

If you delay the VAT filing in UAE, the FTA will levy a fine of AED 1,000 for the first time and AED 2,000 for repetitive delays after that. If your VAT return form has any error or omission, you can submit a voluntary disclosure form to rectify the same. The penalty for the voluntary disclosure form submission is fixed at AED 3,000. If it repeats the second time, the fine is AED 5,000.

What is the profit margin scheme?

Vendors selling secondhand goods benefit from the profit margin scheme under the VAT laws in UAE. Their inputs are exempt from VAT, but FTA imposes VAT on profit on the sales of such secondhand goods.