VAT and Excise Tax
As we all know that the VAT is going to be effective from 1st January, 2018 onwards in UAE. In this regard every business meeting the criteria is required to register for VAT. Business Registration for Value Added Tax (VAT) is now open. If your annual sale is more than AED 375,000 then you MUST register for VAT. Once you are registered you will be allotted Tax Registration Number (TRN).
The UAE Federal Tax Authority (FTA) has announced the deadlines for VAT registration in the UAE. This has been summarized below:
Businesses with a turnover exceeding AED 150m should apply for registration before October 31, 2017.
Businesses with a turnover exceeding AED 10m should apply for registration before November 30, 2017.
All other business entities should submit their application before December 04, 2017 so as to minimize the risk of not being registered in time for VAT go-live.
We at INTRA can assist in registration of your business.
Before we start your registration, please make sure you have following documents/information handy:
· Trade License(s)
· Certificate of Incorporation (Free Zone Companies)
· Certificate of Incorporation (if applicable)
· Articles of Association/ Partnership Agreement (if applicable)
· Contact Information
· Bank Account details
· Financial Statements
· Customs details (if applicable)
· Authorized Signatory documents
· Passport and Emirates ID of manager, owner and senior management
Should you need assistance in VAT Registration, please follow the steps below and our VAT Team would be glad to assist you.
The last date to register is 4th of December, 2017, However, It's better to start this process from today to avoid any last minute non-compliance VAT penalties.
We shall also be providing the various VAT compliance services which will also be communicated in due course.
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