VAT Return Filing Services in Dubai
VAT Return Filing Service in UAE
A tax return is a document through which a tax registrant submits the details of his supplies and purchases to the Federal Tax Authority (FTA) in the UAE. VAT Return filing in the UAE depends on the tax periods allotted to your business by FTA upon VAT Registration. FTA, during the approval stages of VAT registration, determines the tax periods for registrants which can be monthly or quarterly as the authority may deem fit. VAT Return Filing in the UAE is completely an online process through which a tax registrant can present the value of their sales and purchases and remit the tax due. In cases where the supplies are lower than the purchases, a VAT registrant can apply for a tax refund. Application of tax refund is a separate procedure and requires submission of further details as sought by the FTA. VAT Return Filing in the UAE does not require submission of documents such as tax invoice, tax credit notes at the time of return filing. The registrant is responsible to maintain all the documents related to his business and need to furnish it as and when sought by FTA.
Penalties associated with VAT Return filing in the UAE
- If a taxable person fails to file his return on or before the due date, he will incur a non-filing penalty 1,000 for the first time. 2,000 in case of repetition.
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If a taxable person fails to remit his dues on or before the due date, he will incur a non-payment penalty as follows:
- 2% of the unpaid tax is due immediately.
- 4% is due on the seventh day following the deadline for payment.
- 1% daily penalty will be charged on any amount that is still unpaid one calendar month after the due date for payment, up to a maximum of 300%.
Our role in vat filing
Our members are seasoned by supporting more than 2000+ clients across the UAE in successfully submitting their tax returns. We consider it our responsibility to keep ourselves updated in the ever-changing tax scenarios in the region.
We can advise you on the accurate tax treatments of your business by analyzing your transactions and identifying the tax points involved in them.
As VAT Consultants in UAE, with our expertise and knowledge in the related field after encountering practical scenarios which we face on a day to day basis, we shall extend our guidance, support, execution, and resolution on all your challenges encountered which will be based on the provisions and guidelines issued by FTA.
Common errors businesses make while VAT Return Filing
- Failure to issue a valid tax invoice as per provisions of law
- Non-maintenance of proper records
- Wrong emirate-wise reporting
- Improper adjustment of Bad debts
- Wrong usage of ‘Adjustment’ column in case of imports
- Wrong classification between Exports and Out of Scope supplies
- Incorrect input claims including personal expenses and entertainment expenses
- Improper adjustment of Input taxes in wrong tax periods
- The wrong usage of Refund and VDF Forms
- Non-disclosure of Import of service
