As per the regulatory Authority Federal Tax Authority Registration (FTA), all businesses in UAE must ensure the recording of their financial transactions, apart from that VAT registration requirements have done and ledgers are updated in time to avoid penalties.
Senior Business Consultancy will assist you every step of the way from registering for VAT to submittingthe returns on time.Businesses that meet the mandatory turnover threshold limitof AED 375,000 per annum (Revenue per year); are required to be registered forValue Added Tax. The registration can be done online through the online portalon the website www.tax.gov.ae.
Following are the steps to successfully register for VAT:
- The applicant’s details including contact details
- Applicant’s banking details
- Business relationship
- About the VAT registration
- Declaration
- Review and submit
Once done, the FTA will review the application and upon approval, will issue a TRN (Tax Registration Number).
Our VAT experts in UAE will cover the following processes for our clients:
- VAT registration services for local/foreign companies
- Preparation and submission of periodical VAT returns to the government
- Application of VAT to cross-border transactions
- Assisting with VAT audits
- Assisting in requesting interest for late VAT refunds
- Reviewing of the returns prepared by in-house tax personnel or outside preparer
- Maximizing the process and application of VAT recovery rates
- VAT accounting and related policies (e.g., VAT groups and reverse charge)
- VAT-related policies (VAT groups and reverse charge)Multi-jurisdictional VAT obligations
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