In the United Arab Emirates (UAE), VAT payment refers to the process of VAT-registered businesses remitting the tax they’ve collected to the government. Starting from January 1, 2018, UAE businesses registered for VAT are obligated to apply a 5% VAT on the taxable supply of…
The UAE introduced VAT on January 1, 2018, imposing a 5% VAT rate on the supply of goods and services within the country. Businesses registered under the UAE VAT system have the responsibility to apply a 5% VAT, collect it, and remit it to the…
Zero-rated supplies within the UAE VAT system pertain to taxable transactions subject to a 0% VAT rate. These transactions are either categorized as such based on the nature of the supply, irrespective of the specific goods or services involved, or they involve specified goods or…
Zero-rated supplies under UAE VAT entail taxable transactions on which VAT is levied at a zero rate. This zero tax rate can apply based on the nature of the supply, regardless of the specific goods or services involved, or for specified items listed under the…
The VAT Audit Process in the UAE A VAT audit in the UAE is an essential compliance check conducted to ensure the accuracy of an individual or entity’s VAT liability. This is achieved by meticulously scrutinizing various records maintained by the taxpayer. The tax audit…
Value Added Tax Registration Number (VAT Registration Number or VRN) In the United Arab Emirates (UAE) VAT system, individuals or businesses with a turnover exceeding AED 375,000 are obligated to undergo mandatory registration, while those with a turnover surpassing AED 187,500 have the option to…
To ascertain whether a business surpasses the mandatory or voluntary registration thresholds in the UAE, the following criteria should be taken into account: Taxable Supplies of Goods and Services: This encompasses all supplies of goods and services within the UAE that are subject to a…
To comprehend any taxation system, it’s essential to become familiar with the tax jargon that surrounds it. The terminology used in taxation often encapsulates specific concepts or legal definitions, and grasping these terms can significantly aid businesses in swift comprehension of tax laws and seamless…
In the context of UAE VAT Registration, VAT Group Registration allows two or more individuals engaged in business activities to collectively apply for tax registration. A VAT group is essentially a collection of two or more individuals registered with the FTA (Federal Tax Authority) as…
The FTA has set VAT registration deadlines in the UAE based on businesses’ turnover. Here are the UAE VAT registration deadlines: Deadline for VAT Registration in the UAE: Mandatory Registration Registration Type Type of Business (Turnover in million) VAT Registration Due Date Mandatory…
