What is the Procedure for VAT Registration in UAE?

1. WHAT IS THE PROCEDURE FOR VAT REGISTRATION IN UAE? Registration for taxation is mandatory in the UAE for businesses trading goods and providing services. Value (VAT) simply refers registration for businesses. Contrary to not all require VAT Only those annual turnover AED 375,000 must register. In addition, businesses that cross the total value of supplies in the next 30 days, need to indulge in VAT registration. The rising popularity of VAT is owed to an increasing number of businesses that want to represent themselves as government-acknowledged entities. Once they are VAT registered, they are authorized to collect it from their customers, and later get it remitted to the government. Other reasons why businesses are inclined towards VAT registration in UAE: 1. Collecting VAT for taxable supply of products and services 2. Paying VAT to the government Added Tax registration to the tax such popular belief, businesses registration. exceeding the aggregate threshold of

2. 3. Filing VAT returns periodically 4. Claim Input Tax Credit on VAT paid on the purchase Therefore, it is a must for businesses to maintain proper VAT accounting entries, UAE VAT return format in excel and gather information on how to file VAT refund in UAE. VAT returns and VAT accounting entries are not an easy task to manage by oneself. It requires stepwise registration in the first place, better managed by VAT consultants. Online VAT registration can be done in 3 easy steps in a hassle-free manner: 1.Create an e-Service account with FTA and sign-up using your credentials. 2.Fill the VAT Registration Form with all relevant details required. 3.Review the form to avoid furnishing incorrect details and submit it. On the verification of the VAT registration process, the business gets allotted a 15-digit unique identification number, or the VAT Registration Number or Tax Registration Number (TRN). The FTA announces a deadline for registering businesses under VAT. The entities must be aware of the procedures to be able to file VAT refunds in UAE. It is generally advised to get the VAT registration process done by UAE’s trusted VAT consultancy firms like Alankit. Alankit is an industry leader in providing accounting services across the region with diverse market exposure and industry acquaintance. Taxes and tax-related services in the UAE include VAT registration, VAT returns services, VAT accounting entries, etc. Saving man hours, and avoiding tedious processes, loads of paperwork, head straight to Alankit for secured, stepwise, and hassle-free VAT services. Know More Visit - https://www.alankit.ae/vat-accounting-in-uae.aspx