At a rate of 5% on non-essential consumer goods, value added tax (VAT) implementation in UAE came into effect from 1st January 2018. However, VAT registration was already started by the Federal Tax Authority (FTA) from October 1, 2017.
All the details regarding UAE VAT laws are available online on the official portal, but, it’s overwhelming for businesses as the legislation is still in its infancy. Maven business consultancy is aware of all the registration formalities related to VAT in UAE 2018 and can ensure your business is registered and in compliance with all the laws and regulations.
January 1, 2018, marks the introduction of VAT in UAE. All businesses with an annual turnover of Dh375,000 or more fall under UAE VAT tax, and are required to submit their VAT registration applications by 4th December 2017.
As per the regulatory authority FTA, all businesses in UAE must ensure that their financial transactions are recorded and ledgers updated timely to skip penalties.
VAT registration process is simple and businesses can register themselves on the online portal of ministry of finance. However, if they need professional assistance, team at Maven can log into the e-services account on the behalf of applicants, and click on the ‘Register for VAT’ button to start their 6-step VAT registration process.
There are many details which need to be filled in order to complete the VAT registration application form. Maven, a prominent VAT consultancy in UAE can help you sail through the entire process with ease by filling out each and every detail on your behalf. The general details include:
Online portal of FTA allows companies to set up an online account, register, and fill up the online VAT registration form. However, as VAT compliance will directly hit the balance sheets and business bottom lines, companies prefer working with experienced service providers to be prepared for this new tax regime.
Maven business consultancy has an experienced and knowledgeable team of accountants VAT consultants, certified auditors, and tax specialists who help companies meet the required VAT compliance requirements and fulfill all VAT registration formalities. For more information on VAT registration in UAE and Dubai, or to speak to our VAT consultants contact us at 00971 55 679 1998 or reach us at Contact Us
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At Maven business consultancy, we are readily available 24/7 to answer all your queries regarding the establishment of a new business in UAE. Our experienced and knowledgeable staff would be happy to help with all your business requirements, while ensuring your correspondence remains totally confidential.Contact Us
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