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Value Added Tax (VAT) is a tax imposed on the value added to goods and services at each stage of production or distribution. It is a form of indirect taxation where the end consumer ultimately bears the tax. VAT is commonly used by governments worldwide as a significant revenue-generating mechanism.
In Dubai, VAT was introduced to diversify government revenue sources, reduce reliance on oil revenues, and enhance the sustainability of public finances. There are two types of VAT registration in Dubai –
The introduction of VAT in the United Arab Emirates (UAE), including Dubai, marked a significant shift in its taxation policy. Here’s a brief timeline of its implementation:
The latest available information shows that the VAT rate in Dubai and the rest of the UAE remains at 5%. This rate applies uniformly across most goods and services, including:
However, certain goods and services may be exempted or subject to a zero-rate VAT, such as certain food items, healthcare services, education, and exports.
However, certain goods and services may be exempted or subject to a zero-rate VAT, such as certain food items, healthcare services, education, and exports.
It is important for businesses operating in Dubai to register for VAT if their taxable supplies and imports exceed the mandatory registration threshold. The tax authorities set these limitations in the UAE. They must also charge VAT on taxable supplies, maintain proper records, and file VAT returns per the prescribed regulations. Businesses not complying with VAT regulations may face some penalties and fines.
Here are some of the documents required for VAT registration in Dubai –
All the documents are required to be submitted to the Federal Tax Authority through an online process.
All these processes can be exhausting and time-consuming. Hence, Rewind Consultancy can help you with all the hectic work while you can save your time and invest in business growth and strategies.
All the documents are required to be submitted to the Federal Tax Authority through an online process.
All these processes can be exhausting and time-consuming. Hence, Rewind Consultancy can help you with all the hectic work while you can save your time and invest in business growth and strategies.
Rewind Consultancy help you with –
With years of experience in VAT and auditing, we offer the best VAT registration services in the UAE. We help you analyse your turnover to see if you are eligible for VAT registration. If you are eligible for VAT registration, we apply for online VAT registration and get your company’s TRN (Tax Registration Number) along with the VAT certification.
The duration of the VAT registration process may vary depending on the completeness of the documents submitted and the workload of the Federal Tax Authority (FTA). Typically, the FTA takes around 20 business days to process VAT registration applications.
Businesses can request amendments to their VAT registration details, such as changes in business name, address, authorised signatory, or business activities. These changes must be reported to the FTA within the specified timeframe.
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