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VAT Refund Services

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VAT Refund Services

The United Arab Emirates recognizes VAT compliance as a series of different activities within a taxable business. It includes VAT registration & deregistration, VAT return, VAT voluntary disclosure,  VAT refund, and many others. A registered business is paying and charging tax on sales and purchases in a specific tax period. Oftentimes his input VAT is greater than the output VAT then the entity can request a VAT refund. Our Bestax Chartered Accountants and tax consultants provide exceptional VAT refund services in Dubai, Sharjah, Abu Dhabi, Ajman, and any other Emirates.

What Is VAT Refund?

The VAT refund in UAE refers to when the output tax is less than the input tax during the VAT return filling period. The excess amount of tax is refundable for all registered entities. The output VAT represents the amount collected on sales, and the input VAT represents the amount paid to the supplier for purchases. In these circumstances, the taxpayer must request the relevant authorities for VAT repayment.

The Objective Of The VAT Refund

FTA introduced VAT refund in UAE on February 1, 2018, to stabilize the economy of the country. The VAT refund is a relief for taxable entities to credit their excess amount of tax. The law is enforced to balance retail spending and manage accounts cash flows.

Entities Subject To VAT Refund On UAE

FTA defines certain conditions and requirements for taxpayers to claim their VAT refund in UAE. There are several registered entities that are applicable to VAT refunds from authorities. The entities mentioned below:

  • Taxable persons
  • Foreign businesses
  • Tourists & visitors
  • UAE nationals building new residences
  • International Organizations, Foreign Governments & Diplomatic Bodies

Time Frame For VAT Repayment

The time frame for the response of FTA for VAT refund in UAE, after the application submission, is almost 20 working days. However, if FTA requires more time on complex VAT Refund applications, it informs the applicant about it. In this time period, the authorities will review and verify all the provided information in the application. Taxpayers are notified by email whether FTA accepts or rejects their claims. Incorrect information is the most common reason for application delays or rejections. If you select a reputable VAT Refund Services in Dubai, there are more chances you get your refund without unnecessary delays.

How To Deal With VAT Refund In UAE?

Whenever a business pays more tax than it collects tax from clients, the taxpayer has two choices for dealing with the excess input VAT in the United Arab Emirates.

  • The first one is that the taxpayer can request an application for a VAT refund from the UAE regulatory authorities
  • If the taxpayer does not currently want to request a refund from the authorities, the excess input VAT tax can be carried over to future tax periods and applied as an offset against the tax due, or the entity can appeal a recoverable amount at any later point

How Do I Claim VAT Refund In Dubai?

FTA has developed a portal through which VAT refund applications can be submitted along with certain supporting documents and information. The step-by-step process is written below:

  1. First of all, Log in to the e-Services portal of the FTA using your registered email and password
  2. Then go to the VAT tab and navigate to the VAT Refunds. A  ‘VAT Refund Request’ is shown below
  3. The VAT refund form is called the ‘VAT311 Form’ and fills in the application with accurate related information
  4. After reviewing the details, you can submit the application by hitting the ’Submit’ button
  5. The authorities notify you about the current status of your VAT refund in UAE
  6. If the application is approved, the recoverable amount will be processed within 5 working days
  7. Check your balance on the ‘My Payment’ tab under the Transaction History section to verify the refund amount

Requirements For ‘VAT311 Form’

To submit your VAT Refund in Dubai, you are required to fill out the following pre-populated fields of the application. Such as:

  • Tax Registration Number
  • The remaining amount of eligible Excess Refund
  • The amount you want to refund (AED)
  • The total amount of Excess Refundable Tax (AED)
  • Penalty for late registration (AED)
  • Authorized Signatory and Declaration

 

Get Expert VAT Refund Services In Dubai

Companies operating in the United Arab Emirates can save themselves from penalties and sanctions by making their records VAT-compliant. Bestax Chartered Accountants and VAT consultants provide remarkable and guaranteed VAT Refund services in Dubai. Our team of tax experts review, verify and calculate your input and output tax whether it’s payable or refundable. They ensure that the entity application package is as per FTA standards. The certified advisors help you in the preparation and submission of the VAT refund applications. Our well-experienced VAT consultants in UAE assist companies until they get their VAT repayment amount from FTA. If you have any questions, please contact us today.

 

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However, I was the head of the finance department yet still found it difficult to conduct a financial audit in accordance with UAE regulations. Although, due to the competence and experience of BextaxCA's qualified auditors, all my concerns have been resolved

ylie Johnson

Accounts Manager, Abu Dhabi, General Trading Company

I utilized BestaxCA's accounting and bookkeeping services for my retail business in Abu Dhabi. It was fascinating to observe how they handled the finances. They provided me with out-of-the-box accounting solutions, which were really useful

Abdul Kaleem

Finance Manager, Dubai, Manufacturing Company

As per FTA requirements, the Bestax Chartered Accountants in UAE assisted me with VAT registration and filing. I personally consult with their tax experts to ensure they have the expertise necessary to provide timely answers

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Finance Manager, Dubai, Manufacturing Company

I was so happy with the BextaxCA's services that I decided to use them for my personal tax planning and return filing. They really know their stuff when it comes to taxes!

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