UAE has commenced the implementation of Value Added Tax (VAT) of 5 % from January 2018 on almost all goods and services in Dubai and the other emirates. This source of revenue is targeted towards future high-end infrastructure and public services. All businesses are required to implement this tax system at the earliest, this is where Tax Help will come at your service. We comprise a group of talented individuals who have expertise in value added tax for over 10 years and now will support solutions in Dubai. Our VAT Consultants aim to deliver strategies, solutions, framework and manage your taxes as required by FTA. Book your appointment now with our VAT agent and start your implementation plan right away.
Implementation of VAT on Individuals
The Ministry of Finance in UAE has adopted value added tax (VAT) on the majority of goods and services. The VAT implementation will increase the cost of living slightly but varies on the individual’s spending habits. If an individual spends mainly on those items for example in Dubai which are from Value added tax, won’t make much of a difference. This VAT implementation would require businesses to keep clean and organized tax records at all times.
Criteria for Registering For VAT
A business in Dubai or other Emirates must register for the value added tax (VAT) if its supplies and imports exceeds AED 375,000 in the last 12 months. It is voluntary for businesses whose supplies and imports surpass AED 187,500 per annum. A business household pays the government the tax that it collects from the customers. However, in VAT compliance you receive a refund from the government on tax that it has paid to its suppliers. Our VAT consultants will guide through the entire registration process without any obstruction.
How to Register for VAT?
Businesses can register for Value Added Tax (VAT) through the e-services section on the FTA website available in Dubai and all other regions. However, an account needs to be created firsthand. Tax Help will take on the burden of your entire registration process from start to finish. The following documents mentioned are mandatory for the online registration. Contact us for enquiries and our VAT consultants will be there at your assistance.
How is VAT Collected?
Businesses that are registered for Value Added Tax (VAT) like Tax Help, collect the amount on behalf of the Dubai government. Our VAT consultancy services will take on the responsibility of managing and dealing with the FTA. We keep our clients updated on the procedures at all times. Customers will bear the VAT in the form of a 5 % increase in the rate of taxable goods and services whenever they buy in the UAE.