VAT Return Filing
Your Trusted Accelerator
Speak with a Value Added Tax specialist to ensure that your tax returns are filed on time and accurately.To submit the VAT received and paid by the organisation to the tax authorities within the designated time period, VAT return filing is a crucial part of the VAT system. With knowledgeable personnel to handle all your VAT-related matters and transactions, VAT Return Filing Services in the United Arab Emirates provide complete VAT services.Offering our clients the utmost peace of mind, SS&CO offers one of the best and most prominent VAT return filing services in Dubai. We handle all VAT-related matters, lightening the load on your company.
In the UAE, what is filing a VAT return?
Filing a VAT return merely indicates the amount of VAT that must be paid or reimbursed to the tax authorities. VAT returns are often filed on a quarterly basis and help firms stay on the correct financial track.
It is preferable to operate your business in a VAT-compliant manner in order to prevent any needless penalties that could become an obstacle.
How do businesses in the UAE handle the filing of VAT returns?
Companies use the Federal Tax Authority (FTA) portal to file their VAT returns, entering the information on the VAT 201 form. The VAT 201-VAT return form can be accessed by the taxpayer by logging onto the FTA e-services portal.Fill out the form with the following information:
- Details on the taxed individual’s VAT return period
- Revenue and production VAT
- Cost and VAT input
- Net VAT due Reporting obligations
- Signatory with authorization and declaration
Following application submission with all necessary information, FTA sends an email confirming receipt of the VAT return form. The taxpayer must pay the required tax by one of the available payment methods, such as exchange houses, E-dirham, online transfers, over-the-counter payments, etc., after filing the VAT return.
The UAE's Importance of Filing VAT Returns
Establishing a VAT filing procedure or maintaining compliance with VAT provides legal certainty for your company. When it comes to paying taxes, VAT has the upper hand and doesn’t suffer any losses.
The following advantages are provided by UAE VAT return filing services:
Encouraging investment and personal savings is one of the main benefits of implementing the VAT system.
transparent indirect tax that breaks down the burden on consumers at several points in the process, such as the manufacturing, distribution, and supply of goods and services.
In the UAE, organisations like doing business with SMEs and VAT-registered enterprises. Therefore, businesses will be reluctant to do business with you if you cannot present a valid VAT invoice.
highlights the image of your business.
Simple to administer in contrast to other indirect taxes
VAT-related fines and penalties filing returns in the United Arab Emirates
In the UAE, breaking VAT legislation is subject to fines and penalties. A few of the VAT fines and penalties that apply to a person who is registered for VAT if they don’t comply,
- Businesses who fail to register within the stipulated timeframe will be subject to a penalty of AED 20,000.
- The taxable individual will be subject to an AED 10,000 fine if they do not file for VAT deregistration within the allotted time.
- It is required to display the price of goods, which must include tax, at the time of sale. In the event that it is not, the taxable person will be subject to an administrative penalty of AED 15,000.
- It is the duty of a VAT registered individual to file their VAT returns by the 28th of the subsequent month; any late filing will result in a penalty of AED 2,000.
- All VAT registered individuals are required to keep up their book of records and supporting documentation for each transaction. VAT return filing in Dubai facilitates these services by delivering the appropriate paperwork on schedule.
- A voluntary disclosure form must be filed by a taxable person in order to correct any error or omission in VAT returns. The fixed penalty for filing the voluntary disclosure form is AED 3000; if it is submitted a second time, the penalty is AED 5000.
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Sidra Salman
- Ms. Sidra Islam, Founder and Managing Director
- Tel: +971 50 262 0170
Salman Sharif
- Non-Executive Director
- Tel: +966 56 0099 497
Mubashir Islam
- Senior Manager
- Tel: +971 50 262 0170
Zainab Malik
- Senior Financial Analyst
- Tel: +971 50 262 0170
Mian Ahmad Farhan
- Partner Audit & Assurance Services
- Tel: +971 50 262 0170
Gideon Kaddu
- Senior Accounting Associate
- Tel: +971 502 182 897
