VAT in UAE : Eligibility Criteria, VAT Registration, Documents

 

VAT in UAE Value-added tax is imposing charges on the transaction of goods and services. Value Added Tax is applied at each stage of the existing supply chain.  The companies collect tax and account for it on the behalf of the government of the Federal Tax Authority.

There are three categories under VAT.

• 5% Value added Tax
• Zero Rated Supplies
• Exempt Supplies

There are some eligibility criteria to register for VAT in UAE, and they are as follows:

• If the value of taxable supplies and imports exceeds AED 375,000, the business is required to register for VAT.
• If taxable supplies are from AED 187500 to AED 375000, then a business can go through for voluntary VAT registration.

To know more about the limits or not sure about whether to register for VAT, you can look for the advice of a VAT expert in UAE.

Documents to be submitted for VAT Registration

Here are the Required VAT Registration Documents in UAE

• Copy of business trade license
• Copy of the passports of the owner or partners of the company mentioned on the license.
• Complete address of the official company location
• Memorandum of association of the company
• Bank account details of the company
• Detailed view of the turnover of the company

Documents required may vary depending upon the kind of task done by the applicant or business. VAT group registration is a tax registration process where two or multiple individual business parties form a group. Businesses must understand the conditions of VAT group registration determine the eligibility and accordingly, opt for VAT group registration. You may look for the help of a tax expert to know the eligibility criteria for registration of a VAT group.

 After providing the above-mentioned details to a tax expert, they will forward all the information to FTA which will explore the information and provided send a notification of approval. After the approval by the Federal Tax Authority, the entity is registered for VAT in UAE and got a TRN and VAT registration certificate stating the number. This number would be used to identify your business.

The FTA requires businesses to complete all the procedures and fulfill the criteria of VAT registration. All the VAT Registration documents should be submitted properly. If you are not sure how to get it done or if you are still unsure about the documents required for VAT registration in Dubai, talk to VAT consulting firms in UAE.

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