VAT Deregistration in UAE

VAT Deregistration in UAE VAT Deregistration in UAE is an online process. Businesses and individuals who are registered under Federal Tax Authority (FTA) can de-register from VAT in two situations: If their turnover did not exceed AED 187,500 in the 12 months after registering with the FTA, they must apply for the VAT Deregistration. If Read more about VAT Deregistration in UAE[…]

VAT Registration in Dubai Extended

VAT Registration in Dubai The Federal Tax Authority (FTA) has urged all businesses sectors to complete their VAT registration for Value Added Tax (VAT) purposes as soon as possible in order to avoid VAT fines and penalties. The FTA confirmed that the online VAT registration process is continuing, and that other businesses who did not Read more about VAT Registration in Dubai Extended[…]

VAT Accounting in Dubai

VAT Bookkeeping – VAT Accounting Services in Dubai

VAT Accounting Services in Dubai Since the VAT in UAE came into effect from this year, it is mandatory for every taxable person to maintain books of accounts under the VAT law.  In addition to that the Federal Tax Authority (FTA) can ask for additional documents such as, annual accounts details, general ledgers, purchase day books, invoices Read more about VAT Bookkeeping – VAT Accounting Services in Dubai[…]

VAT’s Up – Any Questions?

Value Added Tax (VAT) came into effect from January 01, 2018 and VAT is very new for the people of UAE.  The sharp drop in the oil prices left no option for the GCC countries other than to look at the taxation model.  At the end of each tax period, VAT registered businesses must submit a VAT Read more about VAT’s Up – Any Questions?[…]

TRN

No TRN, No VAT

Tax Registration Number (TRN) Tax Registration Number (TRN) is mandatory in order to start taking VAT. Federal Tax Authority (FTA) wants the following elements to be essentially mentioned on the bill/invoice/receipt, that is the amount paid as Value Added Tax (VAT) and also the Tax Registration Number (TRN) of the company. The invoice will be Read more about No TRN, No VAT[…]

VAT in UAE

VAT in Dubai

VAT in Dubai From 2018, businesses must start collecting VAT in Dubai UAE. VAT is a form of tax on the consumption or use of goods and services levied at each point of sale. VAT is a form of indirect tax and is used in more than 180 countries around the world. The end-consumer ultimately Read more about VAT in Dubai[…]

VAT

VAT Rates in UAE

VAT Rates in UAE There are three types of VAT Rates in UAE. The standard VAT rate in UAE is 5 percent. The other two VAT Rates in UAE are 0 percent and exempted VAT.  There are currently three major VAT rate brackets. Depending on the supply carried out by the businesses, these will be VAT-able Read more about VAT Rates in UAE[…]

How to prepare VAT invoice in UAE – UAE VAT invoice format

VAT Invoice Format FTA has defined a VAT invoice format in UAE. How to prepare VAT invoice in UAE is a very important question and task for all the business.  A VAT invoice must have Tax Registration Number (TRN). All the businesses must follow the format of VAT invoice issued by FTA otherwise they will get the VAT Read more about How to prepare VAT invoice in UAE – UAE VAT invoice format[…]

VAT

Difference between Zero Rated VAT vs Exempted VAT

Zero rated VAT vs Exempt VAT Zero rated VAT & exempted VAT are different from each other. Zero rated VAT in UAE means you must charge VAT at 0% to your customers. Exempt VAT means you must NOT charge VAT. The implementation of VAT is set to be on 1 January 2018, being imposed on certain goods Read more about Difference between Zero Rated VAT vs Exempted VAT[…]

VAT in UAE

How to apply for online VAT Registration in UAE?

UAE Online VAT Registration There is a criteria for online UAE VAT Registration. All the taxable businesses must complete VAT Registration and get the TRN to collect VAT in UAE.  Once the registration is open, the steps to be taken to complete the VAT registration are outlined below: 1. Create a new account to login a. Provide name and Read more about How to apply for online VAT Registration in UAE?[…]

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