SKM Chartered Accountants in Dubai is a top name in tax management and tax consultation working towards brilliance. We display cabinet knowledge & objectivity – instrumenting UAE tax laws and conversant about the frequent variations in the tax applications in UAE.
VAT Registration in UAE
1st October 2017 marks a significant day for UAE as the Ministry of Finance of UAE have launched the registration for VAT. VAT will come into force in UAE and KSA from 1st January 2018.
UAE Federal Tax Authority (FTA) has declared the deadlines for VAT registration in the UAE. This has been brief 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, to minimize the risk of not being registered in time for VAT go-live.
The registrants are required to provide the following information at the time of registration:
✓ Trade License
✓ Certificate of Incorporation
✓ Articles of Association/ Partnership Agreement or any other document showing ownership information about the business
✓ Details of Manager
✓ Copy of Passport and Emirates ID of the Manager
✓ Physical office Location of the Business
✓ Contact No
✓ Bank Details
✓ Information about other companies of the directors and partners in UAE in last five years
Declaration about:
✓ Business activities of the applicant
✓ Actual or estimated financial transaction values
✓ Turnover in previous 12 months with supporting documents
✓ Details about expected turnover in next 30 days
✓ Details about expected exempt supplies
✓ Imports and Exports
✓ GCC activities of the Business
✓ Details about Customs registration information
✓ There is no fee prescribed for the VAT registration, and all the documents are required to be uploaded on the website
In the meantime, please feel free to contact us at Email- suraksha@skminternatioinal.com for further consultation or assistance. Mobile +971 50 3144800