How To Return Vat In Uae

Login to the portal of the federal tax authority at www tax gov ae with your registered user name and password.

How to return vat in uae. Make sure your details produce an accurate summary of figures to be incorporated in the required vat return format prescribed by fta. Under uae vat the first vat return is due on 28th feb 2018 which will be filed by those businesses for whom the monthly vat return is applicable. Vat return filing in dubai. The businesses are required to file vat return online using the federal tax authority fta portal.

In case you have your business establishment in the uae it will function as a guide to give you a clear roadmap of the vat return process and how you can go ahead with it. 15 steps for vat return filing. This video help you how to file vat return in uae fta portal. The vat return filing in uae requires an accurate summary of details the detail vat working of sales purchase expenses output vat and input vat can be made separately.

The rate of vat is 5 per cent. Federal tax authority fta has relieved the time duration of the first vat return filing dubai. Keywords how to file vat return in. What is vat return filing vat return filing is concerned with the filling in the form regarding the sales that attract vat and also the various expenses incurred during a period.

There is a set procedure in an official manner for vat return filing in the uae. For vat return filing the following should be taken care of. Some of the companies have been given one month as the first vat return period whereas for most of the companies the first vat return varies from three to five months. All amounts should be rounded off to the nearest fills.

Liability of vat the liability of vat is the difference between the output tax payable vat charged on supplies of goods and services for a given tax period and the input tax vat incurred on purchases recoverable for the same tax. Fta has given a relaxation to the business with regards to the first vat return filing as the first vat return period is from january 1 2018 to may 31 2018 and then quarterly afterwards. A vat return summarises the value of the supplies and purchases a taxable person has made during the tax period and shows the taxable person s vat liability. All amount should be in united arab emirates dirhams aed.

If you like this video don t forget subscribe my channel. Vat will provide the uae with a new source of income which will be continued to be utilised to provide high quality public services.