VAT Registration
Registering your business under UAEs VAT law means your business is recognized by the government. After registering for VAT your tax will be based on the income generated from your business. United Business Formations is a leading consultancy with the best VAT Registration Services in UAE that provides outstanding services.
Registering VAT online in Dubai
It is mandatory to register for VAT under the law that came in January 2018. If you are a business owner, then it is important to register for VAT. once you file for VAT you must file the VAT returns regularly. Companies and individuals doing business in the UAE are required to register for VAT if their annual turnover exceeds AED 375,000. The VAT registration process involves,
- Register for VAT
- Charge VAT on the invoices issued to the clients
- Fill out a VAT filing with the Federal tax authorities to notify them of the VAT
Documents required for VAT registration
Copy of the passport or any ID to prove nationality.
Copy of trade license
Incorporation certificate of the company
Articles of association certificate
Description of the business activities
Power of Attorney certificate
Turnover of the last 12 months
Supporting documents of 12 months of sales
Expected turnover in the next 30 days
The estimated value of imports for one year from all countries.
The estimated value of exports
Bank details
Penalty for non-registration of VAT
According to the government, those who fail to finish the registration process in the given time will have to pay a fine. The deadline is set by the Federal Tax Authority. If the company fails to pay then they have to pay a fine of AED 20,000. To know more contact United Business Formations, the best VAT Registration Services in UAE.
Why VAT registration is important?
VAT will bring long benefits to the country’s economy and business owners. A few of the significant reasons why VAT registration in Dubai is important are the following,
- VAT registration enhances the business profile
- It helps to avoid unnecessary penalties.
- VAT allows claiming VAT refunds
- Filing VAT helps to widen the market possibilities.
United Business Formations will help you in dealing with all VAT registration services. If you are having any queries regarding VAT registration contact us for the best advice and service.