Learning More About VAT in UAE

The year of 2018 is commonly known as the year of the VAT.

The country cannot continually depend on one revenue-generated avenue, so the tax system was introduced and agreed on to be implemented at the right time. The diversification of revenue has started before with tourism, and the continuous plans of the government to expand its revenue sources are doing great as there is only positivity that is coming out of them.

The first year of the tax system in the country is expected to bring in a big amount of money. This will then be added to the budget of the government in providing more services and infrastructures to the public.


Dealing with VAT Registration in UAE

There are specific documents that are necessary to be completed and prepared by businesses that are required to register VAT. The scanned copies of these documents need then to be submitted on the portal of the Federal Tax Authority (FTA).

After a successful registration, businesses will be given a VAT certificate. This contains a VAT Registration Number. The businesses are therefore expected to take good care of this certificate as that number will be used by their companies to continuously deal with and conduct tax-related things in the UAE.

Everything will be done online even the VAT registration in UAE. The FTA website provides the option of doing this but businesses need to create an account first. After an email verification, they can start registering by filling up forms and uploading the needed documents.

What is UAE VAT Law in a Nutshell?

Last August 2017, the government has released the Federal Decree Law No. 8 of 2017, which businesses and residents alike waited for to better understand how VAT was going to play out. HH Sheikh Khalifa bin Zayed Al Nahyan himself, the President of the UAE and Ruler of Abu Dhabi, issued this law to the rest of the country.

Residents, especially the businessmen, finally had the means to understand what VAT really is. Since the country has not done this from the start, most people are unfamiliar with this system. This is why having all the information that is needed to understand it is a great help for everybody.

Even the four exempted items and 14 goods and services that are zero-rated are all stated in the law.

VAT Agent in UAE

The implementation of the tax system was not really a surprise but still brought confusions to some businessmen. This is why a VAT agent in Dubai usually helps businesses in dealing with VAT altogether.

It is defined in Article 1, Chapter 1 of the landmark Federal Law Number 7 of 2017 what a VAT Agent in UAE or “Tax Agent” is. Stated in the said law, a tax agent is “any Person registered with the Authority in the Register, who is appointed on behalf of another Person to represent him before the Authority and assist him in the fulfillment of his Tax obligations and the exercise of his associated tax rights states that a Tax Agent.”

Basically, it’s the tax agent’s job to represent VAT-registered businesses. They can directly be in contact with the FTA.

A VAT agent in Dubai can also help in any tax-related issues that any business has. They can answer questions and assist in whatever way they can.

We Can Be Your VAT Consultant in UAE

Dealing with VAT and everything that is correlated with it is easier when it is tackled with experts like VAT consultants in UAE.

VAT agent in Dubai and consultants as well can ensure that you are accurate in registering for VAT and make sure that you obtain your VAT certificate on time.

Since it is also required to keep your records in case the government asks for you to present them, your consultants will ensure that you are prepared and compliant with the law at all times. Lest you are forgetful about due dates, your consultants will always remind you to file your VAT returns or even file them for you.

We ensures that you are surrounded by the people you need. We are a team that has experienced consultants, tax agents in UAE, and CPAs who can ensure your compliance with the law.