VAT Registration In UAE
VAT Registration Services in Dubai, UAE
As the UAE embarked on its VAT journey on January 1, 2018, businesses of all sizes and sectors found themselves facing the mandatory requirement of VAT registration. This article serves as a comprehensive guide to VAT registration and implementation in the UAE, emphasizing the pivotal role of IBR GROUP as a trusted consultant firm that offers a spectrum of VAT-related services, including VAT registration, VAT deregistration, VAT accounting, and VAT return filing.
VAT registration in the UAE is an indispensable declaration that your business operates in accordance with Emirati VAT laws, signifying government recognition. The eligibility for VAT registration hinges on your business’s revenue. IBR GROUP, a leading UAE consultancy, simplifies this process.
Documents for VAT Registration in Dubai
- Passport copy or Emirates ID to confirm the identity of the authorized party.
- Copy of the company’s trade license.
- Certificate of Incorporation of the company.
- Certificate of Articles of Association.
- Certificate of Power of Attorney.
- Description of business activities.
- Turnover for the last 12 months in AED.
- Supporting documents for 12-month sales.
- Expected turnover in the next 30 days.
- Estimated value of imports for one year from all GCC countries.
- Estimated value of exports for one year to all GCC countries.
- Confirmation of dealing with GCC suppliers or customers.
Supporting documents for customs registration if applicable. - Details of the company’s bank account.
Types of VAT Registration in UAE
Mandatory Registration
A business must register for VAT if the total value of taxable supplies and imports exceeds AED 375,000 over the past 12 months or is expected to exceed this threshold in the next 30 days. Foreign organizations are not subject to this threshold.
Voluntary Registration
A company can voluntarily register if it does not meet the mandatory criteria but has a total value of taxable supplies and imports or taxable expenses over the past 12 months exceeding the voluntary registration threshold of AED 187,500. Anticipated future figures can also trigger voluntary registration.
VAT Implementation in the UAE
VAT, introduced in the UAE with a standard rate of 5% on January 1, 2018, has wide-ranging implications for businesses. IBR GROUP offers expert tax advisors to establish a seamless VAT system tailored to your business, regardless of its industry or service.
Calculating the Tax Registration Threshold
According to Federal Decree-Law No. (8) of 2017 on Value Added Tax, various factors are considered to determine whether a person has exceeded the Mandatory Registration Threshold and the Voluntary Registration Threshold.
IBR GROUP: Your VAT Consultant Partner
IBR GROUP plays a pivotal role in facilitating VAT registration and implementation. The consultancy offers an array of VAT services, ensuring that businesses, regardless of size, can maximize their profits. These services encompass VAT registration, VAT deregistration, VAT compliance and control, VAT filing and payment, data entry and management, and more.
In addition to VAT-related services, IBR GROUP provides a range of business services, including CFO Services, Auditing Services, Accounting & Bookkeeping Services, Accounting Software services, Due Diligence Services, and Tax filing Services.