VATReturn filling in UAE
VAT return filing is a mandatory process where businesses registered under the UAE VAT law must report their taxable supplies, input VAT, and output VAT to the Federal Tax Authority (FTA) within specified periods. Filing VAT returns ensures businesses are compliant with tax regulations and helps the FTA monitor tax collection.
Who Needs to File VAT Returns? Any business with VAT registration in the UAE is required to submit VAT returns regularly, typically on a quarterly basis. Larger businesses with an annual turnover exceeding AED 150 million may be required to file monthly VAT returns.
Key Components of VAT Return Filing:
Taxable Supplies: This includes reporting the total value of goods and services sold (taxable sales) within the UAE and abroad, along with the output VAT collected.
Input VAT: Businesses can reclaim the VAT paid on their purchases of goods and services used for business activities. This input VAT is offset against the output VAT.
Adjustments and Exemptions: VAT returns also account for any necessary adjustments, such as bad debts or reverse charge mechanisms, and any exempt or zero-rated supplies.
Steps for Filing VAT Returns in Dubai
Prepare Records
Maintain accurate records of sales, purchases, expenses, and VAT invoices for the filing period.
Login to FTA Portal
Log in to the FTA’s e-services portal using your VAT-registered account.
Complete the VAT Return Form
Fill out the VAT return form, including details of total sales, purchases, input/output VAT, and any adjustments.
Submit the Return
Submit the return online before the deadline. VAT returns are generally due by the 28th of the month following the end of your tax period.
Make VAT Payment
Pay any VAT due to the FTA as part of your submission. The payment must be made by the deadline to avoid penalties.
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