MAVEN Business Consultancy

VAT Return Filing in UAE

Value-added tax (VAT) also known as ‘Tax return’ is being levied by several developing and developed economies to boost government treasury which helps them provide better infrastructure and facilities to their citizens and fund various developmental projects. Following suit, the Federal Tax Authority in the United Arab Emirates has mandated all entities, individuals, and registered business crossing the threshold of Dh375,000 to file VAT returns in the UAE from 1st January 2018 to escape any penalties.

VAT Return Filing Services in UAE

VAT Return is a periodical statement which all taxable registered businesses in UAE need to submit to the Federal Tax Authority (FTA) within 28 days from the end of stipulated tax period, as per the UAE VAT law. VAT return filing in UAE is paperless and entirely done through the online portal of FTA under e-services section.

UAE VAT law is comprehensive and therefore most of the foreign investors get overwhelmed understanding how to file VAT return in UAE. Maven Business Consultancy has been successfully offering end-to-end VAT return filing services in UAE and Dubai to our global clients and can help your business become VAT compliant.

VAT Return Form

To file a VAT return in Dubai and UAE, all registered business entities are required to fill a summarized online VAT return, which includes consolidated details of supplies including total tax payable, total sales & purchases, output and Input VAT, etc. We can help you classify the supplies into the following required categories:

Exempt Supplies
Intra GCC Supplies
Reverse Charge Supplies
Standard rated
Zero rate Supplies

Information to be Provided in the VAT Return

The VAT return discloses the amount of tax due or refundable during a Tax Period. All businesses must disclose the amount of input credit available as well as the total output tax payable. VAT Return Form includes the following:

Output Tax Liability on:

Import of services
Goods imported on which tax liability is still not created
Goods imported through customs
Standard Rated Supplies (5%) in Emirates
Tax refunds provided to the tourists

Input Tax on:

Import of goods
Import of services
Standard rated expenses
Standard rated purchases

Note: Tax liability or Amount to be paid to the FTA in a tax period = Excess of the Tax amount disclosed under Output Tax over and above the Input Tax

How to File VAT Returns and Fill Form VAT 201?

The Executive Regulation of the United Arab Emirates (UAE) Value Added Tax (VAT) meticulously delineates the specific details and data that are required to be furnished within the VAT return. Adherence to the prescribed VAT Return format issued by the Federal Tax Authority (FTA) is imperative, ensuring accurate submission of each element outlined in the regulation. Utilizing Form VAT 201 for VAT return filing is the standard procedure mandated by the FTA. Given that VAT return filing cannot be conducted offline, Maven's team of seasoned tax experts stands ready to provide invaluable assistance in completing the VAT return form efficiently and comprehensively. This entails meticulous compilation and input of critical information such as Input and Output VAT, Sales figures, Purchases, and other pertinent data required for compliance. With Maven's assistance, businesses can navigate the complexities of VAT return filing with confidence, ensuring timely submission and adherence to regulatory requirements.

In order to ensure that your company stays in the good books of tax authorities, we suggest our clients to timely submit e-returns even if they have not paid the VAT (VAT return is filed as Nil in such cases).

When to File VAT Returns?

Generally, filing VAT returns in Dubai and UAE is to be done on a quarterly basis, i.e. every 3 months. However, in few cases, to monitor how businesses are adhering to VAT compliance and to reduce the risk of tax evasion, authorities may demand certain businesses to fill VAT returns monthly. Additionally, law provisions certain businesses a longer VAT return filing period to reduce the administrative burden on the authority and compliance burden on the businesses.

Contact Maven for Hassle-free VAT Return Filing in Dubai and UAE

VAT return is an important proof to show that you have fulfilled the VAT obligations and cooperated with the authorities to perform audit and VAT law enforcement if required. At Maven Business Consultancy, our team of accountants and tax consultants ensure that your business complies with all required VAT rules and procedures. Our team is aware of the entire VAT filing procedure and assures best VAT return filing services across UAE and Dubai for our global clients.

Our team will visit your office periodically (weekly/monthly/Quarterly) to do optimal tax planning, compile required information, and prepare VAT return on behalf of your company at the end of each VAT return period as per the UAE VAT law, so that your company falls under Minimal Tax Liability. Additionally, our team will represent your company in front of the authorities on your behalf when required, so that you don’t have to worry about the legalities and can just focus on your business endeavors.

For more information about VAT Filing, obtaining an employment visa, PRO services, or company formation, registration, and incorporation requirements in UAE and Dubai, contact us at +971 52 266 7699 or email us at info@mavenconsults.com