VAT Registration in UAE
Are you looking for help with registering your business for VAT? Beaufort is one of the leading VAT registration consultants in the UAE known to deliver top-notch services. With the commencement of VAT, we offer world-class assistance to businesses to ensure that their practices are VAT compliant and efficient all at the same time.
VAT Registration Services in UAE – Leading Consultant
At Beaufort, we take utmost pride in our amazing team of top-notch VAT specialists that offer world-class consultancy services to help our clients register for Value Added Tax and structure their businesses.
We take it as our responsibility to ensure that their business does not face any hurdles or complications in terms of ensuring compliance with the VAT rules and regulations. With us around, there is no need for our clients to worry about facing penalties that are incurred due to non-compliance.
When you get in touch with the team at Beaufort, your business will be assigned to a dedicated VAT consultant who will also be responsible for providing information to you with regards to the various developments and updates concerning tax legislation.
Most importantly, we understand that our clients run different businesses and have differing needs. It is for this reason that we hold an expertise in delivering tailor made solutions that are sure to fulfill all your present and future taxation needs. .
Top-Class VAT Registration in Dubai
Not only does our team assist with registration, we also review important documents, including the existing contracts of our clients to ensure that they are in line with VAT rules and regulations.
All VAT clauses are duly incorporated in the contracts, irrespective of whether they are old or new. Our VAT experts also provide complete assistance in filing VAT returns.
So, if you are on the lookout for VAT registration consultants in the UAE that offer a broad spectrum of top-notch services, then make sure that you get in touch with the team at Beaufort right now.
Don’t forget, we offer a free initial consultation and initial setup of accounting structure. We also offer a 50% discount on VAT filing fee for the first two quarters for startups!
Connect With Us Today
For further information pertaining to our services, please request a free consultation or feel free to give us a call at +971 4240 9070. You can also email us at contact@beaufort.ae
Proudly supporting international and local companies for over 20 years
Introduction to VAT Registration in UAE
Being registered under the VAT law signifies that a business is officially recognized by the government as a supplier of Goods and Services and is granted the authority to collect VAT from customers and submit it to the government.
Only businesses registered for VAT are eligible to:
- Impose VAT on the taxable supply of goods and services.
- Assert Input Tax Credit for VAT payments made on their purchases, which will be subtracted from their VAT liability on sales.
- Submit VAT payments to the government.
- Periodically file VAT returns.
- In addition to the above, all registered businesses must align their business reporting structure in accordance with compliance requirements. This includes maintaining accurate and up-to-date financial records, as well as tax-related documents such as tax invoices, credit notes, debit notes, and records of all inward and outward supplies.
Consequently, grasping the fundamentals of VAT is a crucial step in preparing for VAT, and obtaining VAT registration is the initial stride in transitioning your businesses into the VAT era.
Tax Registration Made Simple
Address: Office 212, Building 1, Dubai Internet City,
+971 4240 9070
Who Should Register Under VAT?
Not all businesses are obligated to register for VAT. Only businesses that surpass the specified annual aggregate turnover threshold are required to register under VAT.
Depending on the registration threshold, a business will fall into one of the following categories:
1. Mandatory VAT Registration: Businesses that exceed the defined turnover threshold must register for VAT.
2. Voluntary VAT Registration: Businesses that do not meet the mandatory registration requirement have the option to apply for VAT registration voluntarily if they wish to do so.
3. Exemption from VAT Registration: Some businesses may be eligible for an exemption from VAT registration based on specific criteria or industry-related considerations.
These distinctions determine whether a business is obliged to register for VAT or has the choice to do so voluntarily, or if they qualify for an exemption from VAT registration.
VAT Turnover Calculation for Registration in UAE
In the context of UAE VAT, businesses are eligible to apply for VAT registration if their annual turnover surpasses the mandatory registration threshold of AED 375,000 or the voluntary registration threshold of AED 187,500.
To determine whether they meet these thresholds, it’s essential for businesses to comprehend which types of supplies are included in calculating their annual turnover for VAT registration in the UAE and how to perform this calculation.
What Documents Required For VAT Registration UAE (Updated)
To obtain the Tax Registration Number (TRN), businesses must submit the necessary documents for VAT registration. For online VAT registration in the UAE, the following documents are required:
1. Copy of Trade License (should not be expired).
2. Passport copy of the owners/shareholders/managers who own the trade license (should not be expired).
3. Emirates ID copy of the owners/shareholders/managers who own the trade license (should not be expired).
4. Contact details of the company (P.O Box and complete address, including building and area).
5. Memorandum of Association (MOA) – not mandatory for sole establishments.
6. Concerned person’s contact details (Mobile Number, Designation, Email Address).
7. Bank details of the company (Must be the company’s bank account – Individual’s bank account will not be accepted) – (Account Name, Account Number, IBAN, Bank Name, Branch Name) – OPTIONAL.
8. Turnover declaration for the last 12 months (should be signed and stamped by the owner of the company and must be printed on the company’s letterhead).
9. Sample of sales or purchase invoices (Signed and Stamped).
10. If the business deals with the customs department, attach a customs letter.
All the necessary documents for VAT registration will be submitted to the Federal Tax Authority (FTA) through an online process. After applying for online VAT registration in the UAE, it will take approximately 2 – 3 working weeks for the FTA to review the VAT registration application and issue the Tax Registration Number (TRN).
Documents Required for Tax Group Registration:
Businesses in the UAE can also apply for Tax Group Registration. Multiple businesses of different natures can form a tax group. According to the Federal Tax Authority (FTA), if an individual holds more than 50% shares in more than one company, they can create a tax group for all the companies, and the FTA will issue a single TRN for the entire group of companies.