How to Register for VAT in UAE: A Comprehensive Guide
This is reason why some businesses feel hard to navigate through complexity of VAT system. The significance of getting VAT registration Services in Dubai by Ibrahim Accounts and Tax Solutions LLC comes here
Value Added Tax (VAT) was first added in the United Arab Emirates (UAE) on 1st January 2018 to diversify country economy by including new revenue assets. From that period, VAT integrate into tax system of Dubai, and affects various clients and business in world.
This is reason why some businesses feel hard to navigate through complexity of VAT system. The significance of getting VAT registration Services in Dubai by Ibrahim Accounts and Tax Solutions LLC comes here. You can get step-by-step guidance of VAT registration in UAE from their experts and keep you updated with all required documents.
Overview of Value Added Tax (VAT) in UAE
The Value-added tax is a type of oblique tax imposed on goods and services in all stages of supply chain, that you can pay to the government. VAT is considered as multi-staged tax that affects the tax levied on products and services.
Essential Documents for VAT registration in UAE
To effectively register VAT and obtain a Tax Registration Number (TRN) in Dubai, you need to gather some essential documents and get VAT registration Services in Dubai. Having documents are crucial to verify your legitimacy and scope of business operations. The Ibrahim Accounts and Tax Solutions LLC experts recommended you to prepare list of following documents for VAT registration
- Valid Trade License: You must have trade license to verify your legal status and approved activities of the business.
- ID proof: Carry the copies of passports or Emirates IDs of proprietors, shareholders, managers, and certified signatories.
- Articles of Association/Partnership Agreement: If relevant, to establish the legal structure and terms of business operations.
- Certificate of Incorporation: Required for legal people to validate the lifespan of the company.
- Business Contact Details: The business should include the different contact details for VAT registration.
- Company Bank Details: You should also submit bank details, including bank name, account number, account name, department name, and IBAN to get accounts receivable services in UAE
- Proof of Mandate for Authorized Signatory: To confirm the authority of the individual handling VAT subjects.
- Proof of Business Activity: A description of the nature of products or services provided by the business. It costs cost, buy, and sales invoice issued by applicant.
- Turnover Declaration: You should carry turnover declaration proof for taxable resources previous year, which needs to be signed, stamped, and printed on company letterhead.
Step-by-Step VAT Registration Process
Here are step by step guide to register for VAT in UAE
- Register for an EmaraTax Account
You should register on Federal Tax Authority (FTA) website to activate your Emarat ax Account.
- Access the EmaraTax Dashboard
Log into your EmaraTax account.
- Create a New Taxable User Profile
Set up a profile for the taxable individual in your account.
- View Taxable Person Account
Click “View” to get access to the taxable individual account.
- Register for VAT
Go to “Value Added Tax” section and tap on “Register” option
- Complete the Registration
Fill out the registration form with accurate records, connect the specified documents, and submit your application.
- Receive the TRN
Once your application is verified, the FTA will release the Tax Registration Number (TRN) generally in 20 working days. The TRN is needed for all VAT-related transactions.
Get in touch with Ibrahim Accounts and Tax Solutions LLC, a VAT registration company that provides trusted VAT registration Services in Dubai. They assist companies to understand whether or not they need to registration for VAT, and if they may be eligible. They also guide them in preparing and filing VAT registration applications and help them to get Tax Registration Numbers (TRNs).
They also provide support on VAT compliance necessities and accounts receivable services in UAE consisting of report-maintaining, invoicing, filling out VAT returns, etc. Their experts also can devise practical strategies to reduce tax liabilities and ensure compliance with guidelines.
