Overview
We provide comprehensive information and services related to Value Added Tax (VAT) in the UAE. Whether you're a business owner, an individual, or an international company, we offer valuable insights and assistance to ensure your compliance with the VAT system. Here are some of the key areas we cover:
Introduction to VAT in the UAE:
1. Mandatory VAT Registration – Annual turnover is more than AED 3,75,000
As per Federal Tax Authority (FTA), companies or individuals having an annual turnover of AED 375,000 or more must apply for VAT registration and must get a Tax Registration Number (TRN) to run business in UAE. They must implement VAT and must collect VAT on behalf of FTA. This is called Mandatory VAT registration in UAE.
2. Voluntary VAT Registration – Annual turnover is more than AED 187,500 but less than AED 3,75,000
As per Federal Tax Authority (FTA), companies or individuals having an annual turnover of more than AED 187,500 but less than AED 375,000 can voluntarily apply for VAT Registration and they get Tax Registration Number (TRN) voluntarily. It is totally up to the company if they want to register or do not want to register. In both cases, there will not be an issue. There is a certain procedure to apply for Tax Registration Number (TRN) in UAE.
There are many factors which businesses should consider before applying for VAT registration processes like whether to apply for mandatory VAT registration or voluntary VAT registration, The other aspect is to apply for single VAT registration or a Tax group.
Benefits of VAT Compliance
Ensuring compliance with VAT regulations offers several benefits for businesses operating in the UAE. Firstly, compliance helps businesses avoid penalties and fines associated with non-compliance, protecting their financial interests and reputation. Additionally, VAT compliance enhances transparency and accountability in financial transactions, fostering trust among stakeholders, including customers, suppliers, and investors. Moreover, VAT compliance enables businesses to optimize their tax strategies, minimizing tax liabilities and maximizing profitability. By partnering with ANPJ for VAT services, businesses can streamline their VAT compliance processes, minimize risks, and leverage VAT-related benefits for sustainable growth and success.
What We Offer
At ANPJ, we provide comprehensive VAT services tailored to meet the specific needs of businesses in the UAE. Our team of VAT experts possesses in-depth knowledge of UAE VAT regulations and extensive experience in assisting businesses across various industries. Our VAT services include:
1. VAT Registration as a Tax Group: If your business operates under multiple trade licenses, we explain the option of VAT registration as a tax group. We clarify the requirements for businesses to be established in the UAE and how the Federal Tax Authority (FTA) issues one TRN for the entire group.
2. VAT Registration for International Companies: We emphasize the requirement for non-UAE resident companies selling goods located in the UAE to register for VAT, regardless of their turnover. Specifically, we highlight the obligation for international companies selling through platforms like Amazon to register and obtain a VAT number before commencing sales in the UAE.
3. VAT Registration for e-commerce platform sellers: We provide detailed information on the mandatory VAT registration process for sellers on e-commerce platforms operating in the UAE. As more businesses embrace e-commerce platforms, we stress the importance of charging the standard rate of VAT, which is 5%, as mandated by the FTA.
4.VAT Health Check-up: We offer a comprehensive VAT Health Check-up service to identify any discrepancies in VAT accounting, records maintenance, and VAT returns submissions. By ensuring compliance with VAT laws, businesses can avoid heavy fines imposed by the FTA.
5. VAT Implementation in the Organization: With our extensive experience, we assist businesses in understanding the impact of VAT on their operations and help them navigate the tax procedures associated with VAT implementation in the UAE.
6. VAT De-Registration: We explain the provision for registered taxable persons to cancel their VAT registration through the process of VAT de-registration. We clarify the conditions and procedures for de-registration, which can be initiated by the registered person or the FTA.
7. VAT Returns Filing: We guide businesses through the process of VAT returns filing, which is done through the online portal of the FTA. The standard tax period for VAT return is: Quarterly for businesses with an annual turnover below AED 150 million Monthly for businesses with an annual turnover of AED 150 million or more the FTA may, at its discretion, allocate a different tax period for a certain type of business
8. IT migration for VAT compliance: Streamline your business operations and ensure compliance with VAT regulations through our expert IT migration services. Our knowledgeable team specializes in seamless IT migration tailored to meet your specific VAT compliance needs. With a customized approach, we minimize disruption and downtime during the migration process. Data integrity and security are paramount, and we adhere to stringent measures to protect your data. Our comprehensive IT migration process includes assessment, design, data migration, testing, and ongoing support. Trust us to integrate your systems, optimize processes, and provide training to ensure a smooth transition. Simplify VAT compliance with our reliable IT migration solutions.
By partnering with ANPJ for VAT services, businesses in the UAE can streamline their VAT compliance processes, minimize risks, and maximize VAT-related benefits. Our dedicated team of VAT experts is committed to delivering accurate, reliable, and efficient VAT services that align with your business goals. Contact us today to explore how our VAT services can support your business in the UAE.