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VAT Registration
Dubai is a business-friendly city and is famous for its unique buildings and landmarks. Thankfully, Dubai’s tax regulations align with international standards, offering cost-effective and transparent solutions.
Regardless of whether you operate a small, medium, or large business, it’s imperative to register for VAT in the UAE as per Emirati VAT law. Registering your business under this law signifies official recognition by the Government. VAT registration in the UAE for your enterprise depends on the income developed from your enterprise. Innovex Tax is one of the leading VAT registration companies, which deliver outstanding VAT registration services in Dubai in addition to VAT deregistration, VAT accounting, VAT return filing, etc.
Types of VAT Registration Services
There are two types of VAT registration services, companies will select a category based on their annual turnover before applying for vat register uae. These are two categories of VAT:
- Mandatory VAT Registration
- Voluntary VAT Registration
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Mandatory VAT Registration
Mandatory VAT registration services are needed for all businesses under below mentioned criteria:
- If the cumulative value of its taxable supplies and imports over the preceding 12 months surpasses the minimum registration point.
- If the company anticipates that the combined value of its taxable supplies and imports will surpass the mandatory registration threshold within the upcoming 30 days.
Voluntary VAT Registration
A business may select Voluntary Registration.
- If it fulfills the mandatory registration criteria.
- If the cumulative value of its taxable supplies, imports, or taxable expenses over the previous 12 months surpasses the voluntary registration doorstep.
VAT Registration for New Company
For a new company, VAT registration is not necessary. Newly found companies do not need VAT registration services in the UAE. For a new company, VAT registration is only appropriate when is expecting a turnover of AED 187, 500. Below this turnover, they are not mandated to register. FTA will reject their VAT registration application and will not issue the Tax Registration Number (TRN). If you still not clear with the conditions of VAT rules and regulations you can connect with the VAT registration company in UAE that will certainly guide you.
VAT Registration for International Companies
If you are a non-UAE resident delivering goods that are located in the UAE to a UAE customer, then you need to register for VAT irrespective of the level of turnover from such sales. International companies must undergo VAT registration and get a VAT number before commencing sales through online platforms in the UAE. VAT registration is obligatory for international companies selling via Amazon in the UAE.
VAT Registration Services UAE
Innovex Tax delivers the best VAT-related services such as VAT registration, VAT Filing Services in UAE, and more. We will assist you in exploring your turnover to determine whether you should register for VAT or if it’s advisable to wait. Innovex Tax will make an application for online VAT registration and get the Tax Registration Number (TRN) for your company along with your company VAT certificate issued by the FTA.
FAQs - VAT Registration Services
The businesses registering for VAT in the United Arab Emirates need to present the following documents for the registration procedure – Passport copies of business partners. Emirates ID, business license, and more. You should also understand the eligibility criteria before getting the VAT registration services.
VAT-registered companies collect the amount on the government’s behalf – customers keep the VAT in the category of a 5% enhancement in the amount of taxable goods and services they buy in the United Arab Emirates.
Hiring a VAT registration company or consultants is a strategic move. These consultants hold a deep knowledge of the complicated VAT structure, maintaining themselves updated and aligned with the recent rules of Dubai’s government. Their specialization makes sure to meticulously focus on taxing and accounting complications, giving companies a substantial advantage.
VAT registration is an online process. Companies who look to register for VAT should make an account on the Federal Tax Authority’s official site. VAT registration demands some official papers. Some crucial papers should be met prior to submitting a VAT registration application.
The procedure for VAT registration and fee submission would be completed online. The following papers are needed for the VAT registration procedure in the UAE. Copy of business license, passport copy of the owner, Emirates ID, Memorandum of Association, Bank details, and more.
Companies can register for VAT through the official website of FTA. However, they have to create an account. innovex tax professionals will assist you in the VAT registration procedure for a new company.
If the taxable supplies and imports of a UAE-based company exceed AED 375,000 yearly. In case a non-UAE-based company makes taxable supplies in the country, regardless of their value, and there is no other individual obligated to pay the remaining tax on these supplies in the UAE.
If your profit is under 375,000 AED, then you are eligible for VAT registration. This is the threshold described by the Federal Tax Authority of the UAE. Upon reaching this threshold, you will need to register for VAT.
A big point of VAT registration in this country is that your company can get back the VAT on things you purchase for the business. This decreases your amount and assists you make more revenue. Reclaiming VAT permits good financial management and assists your business stay competitive in the market.
The main advantage of being VAT registered is your business looks good and reliable in the United Arab Emirates. It presents you comply with the rules and regulations, making your company look more professional. This may entice more clients and partners who desire to deal with open businesses that follow the rules.
Innovex Tax is a reliable company in Dubai that will give you the right guidance on VAT services as well as provide you with the best VAT services in Dubai. All you need to do is connect with our agents.
Companies with taxable supplies, computed from the primary and next 30 days as yearly turnover, exceeding AED 375, 000, demand compulsory registration for VAT.
The standard VAT in Dubai is five percent. It applies to most services and goods with some exemptions. 0 rated supplies, or zero percent rate applies to goods and services that are exported beyond the VAT-implementing GCC countries.
There is a simple process that you have to understand to apply for VAT registration. You need to apply on the online portal of FTA. The best thing is you can connect with the professionals at innovex tax to make this process hassle-free.
