VAT is a type of indirect tax levied on the consumption of goods and services at the point of sale, which is borne by the customer or the end-consumer. The business and organisations collect these taxes on behalf of the government. VAT was introduced on 1 January 2018, where the consumer is expected to pay 5 per cent of the products or services they use.
For businesses, it is important to be registered under UAE VAT law, which also implies that the government recognises the business. Also, it is important to manage VAT – from registration to filing, etc. These can burden firms that are just starting up or are fully established, as several steps and factors must be considered to ensure adherence to VAT law in the UAE. Here, AIMS UAE can help you with your VAT services, and you can focus on what you do best – managing your business, boosting your revenue, and expanding your business.
AIMS UAE is one of the leading VAT service providers in the UAE, and it aims to offer exclusive services such as VAT registration, VAT deregistration, VAT return filing, accounting services, and many more.
VAT for Businesses in the UAE
How Can VAT Services Help You Grow Your Business in UAE?
- To prevent errors in filing a tax return
- To claim input tax paid as per the VAT law
- Maintain the books of account for 5 years
- Provide guidelines to avoid fines and penalties
- Conducts the tax audit to safeguard the company from material misstatement
- Client organisation
- Purveyor organisation
- VAT filing and payment
- Minimising VAT liabilities
- Accounting and bookkeeping
- Data recording and organisation
- VAT compliance issues and control
Process of VAT Registration in the UAE
- Mandatory Registration - The company must have a threshold of AED 375,000 for mandatory registration.
- Voluntary Registration - The company must have a threshold of AED 187,500 for voluntary registration.
- Businesses must fill out and submit the online application.
- After this, the FTA will review the application, information, and documents.
- If all the requirements are met, the FTA will approve the application and allow a TRN (Tax Registration Number).
- Issue date
- VAT return due date
- VAT reigstaration number
- Date of the VAT registration
- Address of the registered entity
- Start and end dates of tax periods
Get Your VAT Services at AIMS UAE
With over a decade of experience, I help businesses with accounting and taxation. Hence, we are one of the first choices that comes to mind when choosing a business and consultancy firm in the UAE. We offer various services, including general trading licences and visa services.
