Documents Required For Registration of VAT: VAT Registration Consultancy Services Dubai
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Businesses with an annual turnover of more than AED 375,000 should apply for registration on or before December 4, 2017, the UAE Federal Tax Authority said.
Nov 30, 2017 is a deadline for businesses with Annual turnover of Dh10 million but less than Dh150 million.
Dec 04, 2017 is a deadline for businesses with Annual turnover of more than Dh375,000.
The announcement of the introduction of VAT in UAE by Federal Tax Authority from 1st January 2018, it is mandatory for the businesses to register themselves as per the criteria specified by regulatory. All the individuals or the firms engaged in businesses activity have to comply with the rule laid down by the Federal Tax Authority. For example, Registration will be necessary for all the firms that fall under the threshold annual turnover of AED 375,000 and more than 3.5 lakh of businesses are expected to register under this new regime. The businesses that have not registered for VAT will neither be able to charge VAT on their sale nor will be able to claim Input VAT paid on their purchases. Moreover, a business can get itself registered, regardless of the fact that they meet the threshold annual turnover criteria or not, i.e. there is an option of voluntary registration too, for the businesses that don’t fulfill the minimum annual income criteria but are above the base of AED 187,500. The registration criteria have been described below in more explanatory form.
Mandatory Registration: It is mandatory for the businesses to register themselves if
- The annual turnover exceeds AED 375,000 and this threshold must have been exceeded in the last 12 months
- Taxable supplies can be made by the business in next 30 days that will have a value more than the threshold of mandatory registration.
Voluntary Registration: The businesses that don’t meet the mandatory threshold criteria can opt for voluntary registration if
- The annual turnover exceeds AED 187,500 but is below AED 375,000 and this threshold is expected to be exceeded in next 30 days.
- In last 12 month duration, the taxable expenditure exceeds the worth of voluntary registration threshold.
Documents Required For Registration of VAT
- Email and Password (in this mail ID the confirmation mail, Registration number, communication with VAT authority etc. is coming – it is preferable to create a new mail ID for VAT purposes and share the password).
- License copy.
- Arabic name of Company.
- If Branches are there, then copies of branch licenses.
- Certificate of formation – For free zone companies.
- Copy of MOA and Articles of Association (AOA) and their amendments.
- Copy of share certificate- if no MOA available and no other document confirming the ownership available.
- Passport copy of all shareholders.
- Emirates ID copy of all shareholders.
- Arabic name of all shareholders.
- Identify who is CEO or Manager (It can be one or more).
- Arabic name of the CEO or Manager (if CEO or Manager is not a shareholder).
- Passport copy of CEO or Managers, Emirates ID of CEO or managers.
- Business activity
- Turnover/sales for last 12 months
- A report supporting the above ( can be sales register/ledger)
- Expected turnover/sales for next 30 days
- Taxable supplies/expenses for last 12 months
- Expected supplies/expenses for next 12 months.
- If Importing/Exporting goods Customs code
- Document from Customs granting the customs code
- Amount of sales to each GCC country in 12 months.
- Amount of purchase from each GCC country in 12 months
- Authorized signatory details:
- Name in English
- Name in Arabic
- Authorization document (Eg: Power of attorney attested)
- Passport copy
- Emirates ID
- Mobile number
- Email ID
We at VFM Accounting Services not only help provide clients with miscellaneous accounting benefits, but also provide their companies with foolproof and easy VAT Registration services as well.