The Federal Tax Authority (FTA) has urged all businesses sectors to complete their registration for Value Added Tax (VAT) purposes as soon as possible in order to avoid fines and penalties. The FTA confirmed that the registration process is continuing, and that other businesses who did not register to date should register immediately to avoid fines and legal proceedings. According to FTA, all natural and legal persons having businesses in the UAE, with taxable supplies and imports of goods and services exceeding AED 375,000 over the previous 12 months or coming 30 days, must register for VAT.
The Federal Tax Authority (FTA) also pressurized on the importance of completion of all registration requirements and get a tax registration number (TRN), and also put a stress on carefully review the data and ensure its faultless before submitting, as incorrect and incomplete data could lead to the rejection of the application.
Businesses are also required to validate their businesses to request for an Exception from VAT registration, which means that all their products and supplies must be zero rated. If all the correct information and data will not be provided to the FTA, then FTA will send back the application to the registrant and it will cause delay.
Registration is available 24/7 through the FTA’s website. Businesses are required to visit the FTA website which is www.tax.gov.ae, Go to the e-Services portal and create an account. Verify the e-mail and then they can log in and register.
The FTA has called on businesses to provide accurate and correct information, and make sure they enter it properly into the application form. To complete the registration process, all the documents required for VAT Registration must be attached and provided with the accurate information.
VAT Consultants in Dubai will perform the VAT impact assessment and structure your business in the most effective and efficient manner with regards to registration of VAT and filing of VAT return, in accordance with Federal Tax Authority (FTA) requirements.
SAB will take care of all the issues of VAT and provide you advices in light of a latest changes in the VAT laws and VAT rules. VAT consultancy will be given by the General Director, Saeed Al Bannai.