With their expertise, in-depth understanding of VAT registration, and proven track record, Dubai VAT consultant such as Al Forel are able to address all VAT-related problems, including VAT consulting, VAT enrolment, VAT training, VAT reports, and tax regulations and laws. Businesses have been looking for the top VAT experts in Dubai, who have been registered with the Federal Tax Authority (FTA) of the UAE as a tax agency and a specialized tax agent, ever since the start of VAT on January 1, 2018. The proper or organized application of VAT has become compulsory, and the VAT expert has become an absolute necessity, in order to comply with the UAE VAT legislation.
How Can Businesses Benefit from VAT Advisory and Compliant Services from Dubai VAT Consultants?
Since the start of VAT in Dubai on January 1, 2018, VAT experts have helped the companies abide by the VAT laws in the UAE. Experts in VAT help business owners plan their taxes strategically so they can manage their finances and minimize tax outflow. Businesses can be helped by VAT consultants primarily through VAT advisory services and VAT-compliant services.
Who has to register for VAT in Dubai?
If a company’s taxable imports and supplies are AED 375,000 (USD $1,000) or more, they must register for VAT. According to UAE law, companies having taxable imports and supplies between AED 187,500 and AED 375,000 are eligible to voluntarily apply for VAT registration. However, if a company’s taxable supply and imports total less than AED 187,500, it is not required to register for VAT. Even though businesses may submit proposals for VAT registration online, they should pick one of the UAE’s top VAT consultancies to ensure a seamless process. Also stressed is the requirement that all names—whether those of a company, an owner, a manager, or an authorized person—be entered in excellent Arabic and English.
What are some of the well-known VAT consultancies in Dubai?
- Emirates Chartered Accountants’ Group
- SGA Saif Chartered Accountants
- RVG Accounting and Bookkeeping LLC
What documents does one require for VAT?
You would need the following documents for the same:
- Trade license copy
- Copies of the business partners’ and owners’ passports
- A copy of the owner’s and partners’ Emirates ID
- The company’s Memorandum of Association (MOA) along with the Articles of Association (AOA)
- Address and phone number for the business
- Account information
- The 2017 monthly income statement, presented in FTA style
- Business and activities carried out
- Expected turnover during the following 30 days
- Details of your customs registration, if applicable
- Signatories with authority ID, passport, and authorization documents issued by the UAE
Conclusion: The application will be examined by the FTA once all supporting materials have been received. If all the requirements are met, the application will be approved by the FTA, and a Tax Registration Number (TRN) will be issued in two to three weeks. As was already mentioned, before group data are provided, the registration process for the tax group starts with the establishment of a single company. A penalty of AED 20,000 may be assessed if the taxable person fails to file for VAT within 30 days.