Uaevatexpert.ae Welcomes You. Process of Registering VAT Return Filing.

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Presentation transcript:

Uaevatexpert.ae Welcomes You

Process of Registering VAT Return Filing

Important points about VAT in UAE There has never been any tax in UAE, but the government has decided to introduced it to cut down its reliance on oil. UAE has finally commenced a VAT system from the January 1 st, As this is quite a new thing, many people may have doubts and confusions regarding the tax system in this country.tax in UAE

All about Tax in UAE Usually, businesses that are registered under the official taxation body of UAE must levy VAT at a rate of 5% on the services and goods which are taxable. Only those businesses, whose annual imports and supplies surpass dirhams, require registering themselves for VAT.

How is the VAT charged? The traders and businesses which are registered collect VAT from their customers through the chargeable products and services. The business also pays VAT to its suppliers. The difference between the charged and paid amount is either given to the government or reclaimed. If the paid amount of VAT is more than what they have collected from the customers, the businesses can claim to recover that.