VAT Registration
Trusted Partner is one of the comprehensive supporting agent for all of your VAT service needs. Our tax agents will lead the organization to experience and know the VAT and its implications in the organization easily. Our tax professionals will guide you for VAT registration in UAE.
VAT Registration Eligibility
The UAE government has set the thresholds for business to register VAT. This registration is based on the value of the organization’s taxable supplies including standard rated supplies, zero rated supplies, reverse charges received and imported goods.
VAT registration can be done under three category
- Mandatory Registration
VAT registration UAE is mandatory for all the business organization whose total value of the taxable supplies and imports exceeds AED 375,000/- per annum.
- Voluntary Registration
If the total supply of the taxable amount of business exceeds 185,000/- per annum, they can voluntarily register for the VAT.
- Non-resident Registration
A non-resident doing taxable business in the UAE has to register for the VAT under federal tax authority.
Documents Required for VAT Registration in UAE
Following documents are demanded by the federal tax authority to accept the registration.
- Business or trade license
- Passport/Emirates ID of manager/Owner
- Passport copy of authorized signatory
- Proof of authorizing manager or authorized signatory
- Description of the business
- Turnover figures of the previous 12 months
- Projected turnover figures for the future
- Expected values of the imports and exports
How to do VAT Registration in UAE?
VAT registration can be done online through FTA web portal. Following details are required to provide up on the VAT registration.
- Applicant details
- Contact details
- Banking details
- Business relationships
- VAT registration details
- Declaration
- Review and submit
Up on the successful completion and verification FTA will provide Tax registration number. We assist our clients in completing the VAT registration process and support them throughout in VAT related queries and issues.
VAT Registration for Group
If you are looking for VAT group registration, a representative nominated from the group has to apply for the tax identification number (TIN). Further the other members in group can be added by this person. If any companies are eligible to group as one entity, common tax registration number will be issued by FTA upon reviewing the criterions. If then they have to submit only one common VAT return file to Federal tax authority.
Eligibility for Tax Group
If a business is conducted by more than one people, they can apply for group tax registration. They should meet:
- Each of the member should have fixed establishment in the UAE
- Each persons should be related in terms of economic, financial and regulatory aspects
- Business may be in partnership
Benefit of VAT Registration
If a business is registered for VAT under FTA regulations, they can charge VAT on goods and services sold by them. They can also reclaim the VAT charged on them for the purchase made towards the business from other business or suppliers.
What if not Registered for VAT?
If a taxable person or the entity is not registering under VAT, they will be imposed a penalty of AED 20,000 as administrative penalties for violation of tax laws.
VAT Deregistration
A VAT registered person can deregister for the same if they are subjected to any of the following issues:
- They have stopped the taxable supplies
- If the value of their taxable supplies falls under the threshold of 185,000 over one year
- A voluntarily registered person has to complete minimum of 12 months before deregistration. Once the reviewing of deregistration form is done. FTA will convey about the deregistration information and also specify date and time from which it is effective.