VAT in UAE
The UAE introduced VAT in 2018, and all companies operating in the country must register and file VAT periodically. The Federal Tax Authority (FTA) oversees VAT regulations and compliance.
The UAE currently applies a 5% VAT on most transactions, with exemptions for specific services such as local transport, selected financial services, and bare land.
General Criteria for VAT Registration in UAE
- Businesses with taxable supplies and imports exceeding AED 375,000 per annum must register for VAT.
- Businesses with taxable supplies and imports exceeding AED 187,500 per annum can opt for voluntary registration.
- VAT is applied at each stage of the supply chain, with businesses acting as tax collectors on behalf of the government.
- Companies must maintain financial records and undergo regular audits to ensure compliance and avoid penalties.
Documents Required for VAT Registration in UAE
- Trade License
- Certificate of Incorporation/Registration
- Articles of Association/Partnership Agreement
- Manager Profile
- Passport Copy & Emirates ID of Manager
- Business Office Address
- Contact Details
- Bank Account Details & Statements
- List of Business Ownership (for the last five years) with Trade License Copies
Additional Documents for Tax Registration
- Business activity details
- Estimated or actual financial transactions
- Annual turnover of the previous year
- Expected turnover for the next 30 days
- Import/export transaction details
- GCC business activities
- Customs registration details
How ROI Management Consultancy Can Help
At ROI Management Consultancy, we provide complete VAT and accounting solutions, including:
- VAT awareness sessions
- VAT registration and compliance support
- VAT return filing
- Accounting and bookkeeping services
Our VAT experts stay updated on the latest FTA regulations and ensure a seamless registration and filing process for your business.
Tax Consultation and Accounting Services in UAE
Accurate accounting is vital for financial growth. Our expert accountants handle financial planning, bookkeeping, and business development, allowing you to focus on core business activities.
Our Accounting Services Include:
- Financial transaction management
- Periodic auditing and compliance
- Bookkeeping using software like QuickBooks, Peachtree, Quicken, and Tally
- Tax planning and VAT filing
We cater to businesses of all sizes, from startups to established enterprises, ensuring customized solutions tailored to your needs.
Our Services Help You With:
- Scaling business operations
- Efficient logistics and order processing support
- Seamless bank integrations for electronic transactions
- Financial reports for informed decision-making
At ROI Management Consultancy, we prioritize accuracy, compliance, and efficiency in all financial services.