Filing of VAT return is mandatory for all those who are registered for VAT, irrespective of the type of sales, purchases, tax, VAT registration, etc. CDA helps individuals and business to file VAT return in UAE in addition to providing various other VAT services. Rendering the best guidance and assistance for your VAT Return in accordance with the UAE VAT law, CDA offers error-free VAT Return filing with proper maintenance of accounting documents related to each tax filing.
VAT Return filing is the official tax report a registered business has to submit to the Federal Tax Authority before the due date. It is to be done by the taxable Person at regular intervals in compliance with his/her tax period. The VAT Return Filing Form records the details of the output tax due and the input tax to be recovered and some other information essential in the format. VAT return filing is not just proof your business existence but can safeguard your business providing legal assurance and advantages in the stage of tax payments, avoiding financial loss. CDA offers VAT return filing services in UAE delivering outstanding VAT services to help you grow your business.
The VAT return form ‘VAT 201’ is available in the FTA portal. You can log in to this portal using your password and registered username.
A penalty of AED 10,000 will be imposed on an individual or business who fails to keep proper records of the transactions made. In the case of repetitive non-compliance within 24 months, the penalty will be increased to AED 2,000 for each offence.
When you do the VAT Return filing in UAE, your details like your name, your address, TRN, current VAT Return Period, Tax year-end, VAT return period reference number, VAT Return submission due date will be generated automatically.
At the same time, the following things are to be noted down: -
The importance of accurate and timely VAT Filing
Particulars to be furnished under Taxable Supplies
Include the following details for standard-rated supplies: -
The following things should be excluded: -
Include the following details for standard-rated expenses: -
The following things should be excluded for standard-rated expenses: -
Include the following details for Zero-rated supplies: -
Include the following details for Exempt rated supplies: -
Some important points to be noted down:
Once the process of entry is completed in the VAT Return Form, the net amount payable will be automatically calculated. If the payable value is negative, you can either request for a refund or you can carry forward the amount for the next Tax period.
CDA VAT Return Filing Services in UAE are tailor-made to meet the demands of our clients. We understand your business dealings, keep transparency in very processes, manage to lower your expense, and finally maximise your profit with better accounting and tax procedures. We visit our client’s office on a periodical basis and collect the necessary documents for VAT Return Filing.
Through our skilled team, we also provide quality consultancy services to the business world in the field of CFO Services, Auditing Services, Accounting & Bookkeeping Services, Due Diligence Services and Accounting Software services in UAE.
If you have any doubts regarding the VAT Return Filing in UAE or about your current business, feel good to discuss with us. CDA is there for your care!
Our experts will give you one-hour Free Consultation to keep your uncertainties away!
The last date to file VAT return is on or before the 28th day of the month, subsequent to the end of the concerned tax period. If the 28th day falls on a Friday or Saturday or on a national holiday, the due date would be the following first business day.
The VAT return form has separate columns for both standard-rated supplies (5% VAT) and zero-rated supplies. In your case, the 5% taxable supplies will be included under the ‘Standard Rated Supplies’ pertaining to your emirate and exports generally under ‘Zero-Rated Supplies’. Also note, there are conditions to be met if the exports are to be considered at zero-rate VAT.
In the above case, it will result in VAT refundable. You can opt for either option (1) carry forward the refundable amount to the next VAT return period, (2) claim refund – FTA would require 20 working days on submitting the application
This violation will lead to administrative penalties levied by the authority.
If there are no business transactions for the concerned tax period, you are required to submit a NIL return on or before the due date, to avoid administrative penalty.
Large taxpayers are liable for monthly returns as well as small and medium taxpayers are required to submit quarterly returns.
Being a VAT registrant, businesses can claim the VAT paid on expenses or purchases.
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