Documents Required for Registration in VAT
UAE is going to implement Value Added Tax (VAT) from January 01, 2018. Value Added Tax (VAT) is a form of indirect tax which is applied on the consumption of goods or services at the point of sale.
VAT Registration Dubai
VAT in UAE is going to be charged at each stage of the supply chain. The tax percentage will be 5 per cent and the end user will generally bear the VAT cost while the general businesses will collect the tax on behalf of the government. Businesses can claim for the VAT Refund from the government.
Requirements for VAT Registration
Businesses who are generating a minimum annual income of AED 375,000 as confirmed by their financial records are required for the mandatory registration.
How to register for VAT in UAE?
VAT registration require some official documents. Before submission of an application some important documents must be completed. Businesses will get VAT registration in the form of a VAT certificate, with the help of official documents. Every VAT certificate will have a specific identification number. The identification number will be essential for all the tasks to be carried out for VAT in UAE.
Documents required for VAT registration
To register for VAT in UAE, businesses must complete the required documents. The process for VAT registration and fee submission will be done online. Following documents are required for the registration of VAT in UAE.
- Copy of Trade License
- Passport copy of the owner/partners who owns the license
- Copy of emirates ID of the owner/partners who owns the license
- Memorandum of Association (MOA)
- Contact Details of company (complete address & P.O Box)
- Concerned person contact details
- Email of the concerned person
- Bank Details including IBAN
- Owner has any other entities?
- Income statement for the last 12 months
- Expected revenue and expense for the next 30 days after VAT implementation
- Are they exporting or importing?
- Are they dealing with any custom department? If yes. What is the custom code?
- Are they doing business with any GCC country? (Country name)
- If they are representing more than one entity, whether they want one tax group number for all the entities or separate tax numbers for each
- Experience of business (Owners or directors involved in any previous businesses before for the last 5 years?)
The submission of the documents will be done online. After online VAT registration, you will get the Tax Registration Number (TRN) from Federal Tax Authority (FTA) within the duration of 2-3 weeks.
VAT Return filing format is available on the Federal Tax Authority (FTA) website with the title of 'VAT201 - VAT Return'.