How To Claim VAT Refund In UAE For A Business

1. How To Claim VAT Refund In UAE For A Business www.vatregistrationuae.com

2. VAT refund in UAE for A Business is a process through which businesses operating in the UAE can claim a refund of VAT from the Federal Tax Authority. In UAE, if the input VAT paid is greater than the output VAT recovered, then the business is eligible for a VAT refund. This article will give you an insight into how you can claim your VAT refunds in the UAE if you are eligible for the same. VAT Registration UAE has a team of skilled VAT advisors who can assist you in ensuring that your VAT refund claims are submitted on time, in compliance with VAT regulations.

3. How to Claim VAT Refund in UAE for A Business VAT refund in the UAE is supposed to be filed by the taxable persons or businesses in the UAE. In other words, if you want to file a VAT refund claim you must be a taxable person in the UAE. The VAT refund summarizes the VAT that is due for the tax period. If the input tax is greater than the output tax on a VAT refund, the taxable person is eligible to request a tax refund. This is claimed after the submission of the VAT refund or at any time later when there is credit owed to them. To claim VAT Refund in UAE you need to submit and complete the “Form VAT311” for a VAT refund The surplus balance will be refundable VAT if the input VAT is higher than the output VAT.

4. When you have refundable VAT you have two options: • Request a VAT refund. Refundable VAT • Carrie over the extra tax that can be recovered to subsequent tax years and may be applied to offset any unpaid taxes and penalties.

5. Timeline for VAT Refund in UAE for A Business The FTA will process and review a taxpayer’s request for a VAT refund within 20 business days of receiving it. The taxpayer will be informed if the claim is approved or denied by the FTA. If the procedure takes more than 20 days, the FTA will let the taxpayer know about the extension of the deadline. To ensure timely refund filing of VAT, it is advisable to consult VAT experts in the UAE for the same.

6. Procedure for Claim VAT Refund in UAE for A Business Fill out the form. Information from your account has already been used to fill in some of the fields. Before pressing “Submit” to transmit the form, make sure the data you’ve entered is correct. • Access the FTA’s e-Services website. The FTA will email you once you submit the form to let you know the outcome of your request for a refund. The reimbursement will be processed five business days after the claim is approved. Select the VAT tab, then the VAT Refunds tab, and then click VAT Refund Request to open the form.

7. Contact Us Our team at VAT Registration UAE is equipped with well-trained and experienced VAT consultants in the UAE. +971 55 4828368 sales@farahatco.com Dubai, UAE vatregistrationuae.com