How to file VAT Return in Dubai and Across UAE

VAT consultants in dubai

VAT (Value added Tax) is set to implement in Dubai in Jan 2018. The govt, as well as several personal institutions, are releasing new data frequently to assist people and businesses get familiar with the new tax system as smoothly as possible. Among several things VAT connected, one among the foremost important is VAT tax returns.

As per the normal VAT standard, the returns are filed quarterly, i.e., once in three months. The VAT returns are going to be filed online on the official portal of the Federal tax authority. Businesses that are trying forward to creating a sleek transition to the new tax system should get familiar with the return filing procedure under VAT in Dubai.

What is a VAT Return and why is it important?

A VAT return is that the formal document/statement of the VAT liability of a taxpayer for a selected tax period. It contains the small print of VAT liability of the person, tax paid by him, etc. for a tax month or quarter.

VAT returns are vital as a result of they contain the records of the tax paid by the users in a very given period. It’s a proper document that works as a proof that the sure party has paid their tax. The govt. needs these records to keep up a correct taxation system wherever each individual pays his/her liabilities on time. These are utilized by the tax authorities for activity auditing and different activities as per the tax laws. Your VAT come contains the summary of your total earning and therefore the value-added tax paid by your on it earning for that exact period.

Get you VAT in UAE Questions Answered By Experts

VAT consultant in UAE

VAT in UAE has been implemented on Jan 1st, 2018. Till now no one has a clear picture about VAT. Even lot of companies are in a confusion situation about what VAT is?  If you are one of them you are at right place.  namassociates will help you to clear all your confusion on VAT in UAE  and also helps you in filing for VAT

As our VAT consultant in Dubai is the best one that any business can approach, we ensure the clients will get the best services when it comes to getting the services related to VAT and tax.

Our Nam associates team takes care of VAT, Excise Tax, international taxation, indirect taxes, guiding about local tax laws, and compliance with tax and VAT regulations in different countries.

Our experienced VAT consultant in UAE will be able to make sure that the needs and the requirements of the clients are met in the best possible way

We offer following services for the hassle-free management of your tax issues:

All about Dubai Silicon Oasis (DSO)

company setup in Dubai

Dubai Silicon Oasis Authority (DSOA) could be a free zone that’s 100%-owned by the govt. This free zone is formed with a purpose of supporting the business expansion of the country. As different free zones within the UAE, there’s quite a list of advantages for the businessmen who prefer to establish their business within the Dubai Silicon Oasis.

Dubai Silicon Oasis spans around 7.2 million square meters. There are referred to as pillars in Dubai Silicon Oasis that are divided supported the facilities for industrial, commercial, education, living residences, and public facilities. The world has the essential things that businessmen would wish once it comes to utility infrastructure.

Types of Company that You Can Set Up in Dubai Silicon Oasis      

The below data discusses the categories of a company that you will form within this free zone. Though the Dubai silicon Oasis company setup price isn’t mentioned, the specified capital quantity is which will offer you an idea of how much you must prepare whereas planning to build your business.

  1. Branch

The Dubai Silicon Oasis permits any company that is established within the UAE or in different elements of the planet to own their branch be registered during this free zone. The need is that the character of the activity of the branch which will be established within the area should be the same as its parent company’s nature of the activity. There’s no minimum needed capital in establishing a branch.

  1. Free Zone Establishment

In establishing a free zone institution, there’s only 1 shareholder. It is a private or a non-individual/corporate. This type of company incorporates a liability status. The minimum needed capital to determine a Free Zone Establishment is AED 100,000.

  1. Free Zone Company (FZC)

A free zone Company, on the opposite hand, includes a minimum of 2 shareholders. It is non-individual(s)/corporate. Similar to the FZE, there’s a limited liability standing for Free Zone Company. The minimum needed capital to establish an FZCO is AED 100,000.

 

Do not pay VAT if your bill doesn’t have these

vat consultant in dubai

A tax invoice must include the name and address of the establishment. An invoice must have a sequential tax invoice number or a unique number and date of issue, which enables identification of the tax invoice and the order of the invoice in any sequence, the federal law says.

VAT Services

As our VAT consultant in Dubai is the best one that any business can approach, we ensure the clients will get the best services when it comes to getting the services related to VAT and tax.

Our namassociates team takes care of VAT, Excise Tax, international taxation, indirect taxes, guiding about local tax laws, and compliance with tax and VAT regulations in different countries.

Our experienced VAT consultant in UAE will be able to make sure that the needs and the requirements of the clients are met in the best possible way

We offer following services for the hassle-free management of your tax issues:

TRN a must for charging VAT in UAE

VAT Consultant in UAE

There are some traders who are charging value-added tax (VAT) without showing the Tax Registration Number (TRN) on the receipt.

A tax invoice must include the name, address, and TRN of the registrant making the supply. An invoice must have a sequential tax invoice number or a unique number and date of issue, which enables identification of the tax invoice and the order of the invoice in any sequence.

 Ministry of Finance approves first purchase invoice with

The Ministry of Finance (MoF) on Tuesday issued the first VAT-inclusive purchase order, and approved the first VAT invoice on its federal financial system, becoming the first federal entity to implement tax procedures and issue a tax invoice in 2018.

The ministry provides a fully-integrated system, a technical support team, as well as a telephone number dedicated to responding to any inquiries related to VAT (value-added tax) from any federal entities linked to the system.

VAT Services

As our VAT consultant in Dubai is the best one that any business can approach, we ensure the clients will get the best services when it comes to getting the services related to VAT and tax.

Our namassociates team takes care of VAT, Excise Tax, international taxation, indirect taxes, guiding about local tax laws, and compliance with tax and VAT regulations in different countries.

Our experienced VAT consultant in UAE will be able to make sure that the needs and the requirements of the clients are met in the best possible way

We offer following services for the hassle-free management of your tax issues:

  • VAT Consultancy
  • Accounts for VAT
  • VAT report preparation
  • Setting up accounting records and maintaining them
  • Tax Planning
  • Filing Returns with VAT authorities

First 100 Days of VAT in UAE

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January 1, 2018 represents a historic date for the UAE as it introduces Value Added Tax.

Many would have spent time during 2017 suitably preparing for the introduction of VAT  in UAE, while others would have completed a swift, essential exercise only to try and catch up with the new laws by the end of the year. Whichever category you fall into, what will the first 100 days of VAT mean for you?

To have a good headstart, it is assumed that the impact of VAT has been assessed and implemented, VAT registration has been applied for where necessary, and a Tax Registration Number (TRN) has been issued.

Day 1, week 1, VAT start

VAT is effective from the start of business on 7am on January 1, 2018.

Customer communication / Signage / Systems

Inevitably, the hospitality and retail sectors will be first to feel the effects of VAT. Staff training and communication are essential to help deal with any consumer enquiries on pricing and receipts. Point of sale systems should include VAT. Signage for customers ought to help.

How VAT will impact freezone companies ?

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The executive regulations make clear how free zones, designated zones, and mainland areas will be treated under value-added tax (VAT).

Based on the conditions set out in the executive regulations, published recently by the Federal Tax Authority (FTA), only those UAE free zones with fenced areas, security measures, and customs controls in place to monitor the entry and exit of individuals and movement of goods, will be treated as a designated zone

“Based on this criterion, free zones offering services, and/or without physical controls for goods will be treated similar to any other UAE mainland company,”

The purchase of goods by a UAE mainland company from a designated zone company will be treated as an import,” while sales to a designated zone company by a UAE mainland supplier will not be treated as an export and will be taxable.

“For services, there is no special VAT treatment for designated zones, they will be treated like any other UAE mainland company,” he said.

All transactions by companies inside designated zones, including importing, storing, and selling goods to countries outside the UAE, will not be covered by the UAE’s VAT law

Our Vat Services are:

Registration with VAT Authorities in Dubai, UAE, Providing of VAT Implementation recommendation and VAT consultative Manuals in Dubai, UAE, Filing of Periodical Returns and calculation of VAT liability in UAE, VAT designing, helping with different VAT compliance in UAE and Consultative Services.

Tax Agent Dubai

Tax agents in dubai,UAE

Our Vat Services are:

Registration with VAT Authorities in Dubai, UAE, Providing of VAT Implementation recommendation and VAT consultative Manuals in Dubai, UAE, Filing of Periodical Returns and calculation of VAT liability in UAE, VAT designing, helping with different VAT compliance in UAE and Consultative Services.

Introduction to Tax in UAE

Each member state of the GCC can establish their own separate national legislation regarding VAT and as such, the elaborated compliance necessities and a collection of rules are printed in every individual legislation. As such we tend to define a summary of the expected general underlying VAT compliance necessities. An inherent feature of the VAT is that the self-assessment nature that means each business that is VAT registered should record, assess and report its VAT obligations and entitlements, in accordance with the law, to the tax authorities.

Registering for VAT

Businesses and people engaged in any commercial activity whose turnover exceeds the necessary VAT registration threshold such as by the several national VAT laws should register for VAT. Voluntary VAT registration is elective wherever the business turnover is below the obligatory VAT registration threshold – careful thought ought to be to the potential quantity of VAT saved on purchases by the business further because the compliance prices in administering and reporting the tax, before creating such a decision. Businesses not registered for VAT cannot charge VAT on their sales and can’t claim any VAT incurred on their inputs.

VAT it means to you

Guide To Setup Your Company in Dubai

company set up in dubai

We assist you to begin your business at your finest destinations in UAE. Dubai is one in every of the developed emirates that is appropriate to begin your business. Once a year in Dubai attracts several entrepreneurs from everywhere the world. all of them are stuck on the most questions” how to set up a Business in Dubai, UAE”. Here at all Time Business Setup give you the varied types of Business Setup in Dubai with award-winning service. The most factors are that you simply will begin your own business only with the help of one of the Business Setup Consultants to induce the Business Setup Services, native support areas in UAE.

Advantages

  • Low property transaction cost
  • Setups for Free Zone & Offshore
  • Ease of access to home and corporate finance
  • No capital gains tax
  • No corporate tax