Filing a VAT return is an essential part of VAT compliance in the United Arab Emirates. The Federal Tax Administration (FTA) requires it so that registered businesses can record the VAT paid and collected. We offer professional VAT return filing in UAE that expertly handle all your VAT affairs and complexities. Whether your business is based in Abu Dhabi, Sharjah, Dubai, or any other emirate, it is best to comply with VAT requirements to avoid unnecessary penalties in the future.

How to File VAT Returns?

A VAT return is simply a report to the tax authorities of how much VAT a taxpayer has to pay or repay. A company’s net output tax must be paid to the relevant authorities if its output tax exceeds its input tax. Conversely, if the input tax of a company exceeds its output tax, the VAT authority must reimburse the excess to the company. In most cases, VAT returns are submitted on a quarterly basis in order to keep track of the company’s financial situation.

The taxable person is required to report data such as sales and other outputs as well as purchases and other investments for each tax period. VAT return Filing UAE report figures relating to standard, zero-rated, exempt, reverse charge, export and import transactions.

Also, Check: VAT Refund Services in UAE

Are Businesses Required to File VAT Returns in The UAE?

The UAE requires all taxable businesses operating on the UAE mainland as well as in the free zones to submit VAT returns. Business owners will be assigned a Tax Registration Number (TRN) once they have applied for VAT registration. The VAT return must be submitted within 28 days after the end of the tax period.

The VAT certificate indicates whether the business must submit VAT returns monthly or quarterly. All registered businesses submit a VAT return depending on their turnover according to the criteria set by the FTA. In Dubai, UAE, the threshold for filing a monthly VAT return is above AED 150 million and the threshold for filing a quarterly VAT return is below AED 150 million. Failure to submit VAT returns on time and to make tax payments may result in VAT penalties.

Why Do Businesses Make Mistakes When Filing VAT Returns in Dubai?

Many individuals and companies make mistakes while VAT Filing in Dubai accordance with FTA standards. As a result, the UAE regulatory authorities can impose heavy VAT fines and penalties. There can be many reasons for this, such as a lack of knowledge of VAT laws, inadequate accounting systems, incorrect tax strategy, and errors in VAT calculations and, last but not least, failure to issue valid tax invoices to counterparties. A company should avoid these mistakes by hiring professional VAT return filing services in Dubai, United Arab Emirates.

Also, Check: VAT Deregistration in The UAE

How Do I File My VAT Return In The UAE?

A company registered in any Emirate will be required to submit a comprehensive statement of supplies made and received for each tax period. Knowledge and perfection are required to file VAT returns in accordance with the UAE VAT laws and regulations. It is recommended to use professional VAT return filing services in Dubai and manage sales and other output data in accordance with Federal Tax Authority (FTA) standards.

1- Log In To Your Registered Account

First, the applicant or any other person on behalf of the taxable person must go to the FTA online portal. Log in to your e-services account using your registered email address and password. You can now complete your VAT return and provide the tax authorities with proof that your tax treatment is authorized.

2- Access To The VAT Return Form

The second step of filing a VAT return in Dubai is to access the VAT 201 form by entering the values of sales, purchases, input and output VAT, and other transactions. Seven relevant sections must be completed, for example

• Information on the taxable person
• VAT return period
• All outputs and sales subject to VAT
• VAT on expenditure and other inputs
• Net VAT payable
• Relevant reporting requirements
• Authorized signatory declaration

Our team of tax experts helps you manage all the information you need to file your VAT return in Dubai in accordance with the country’s laws. They complete the entire form and submit the return to the FTA within the deadline.

3- Transfer The Return File

The last and most important step is the submission of the VAT return application on the FTA’s official portal. However, before clicking the button, all the mandatory requirements written in the form have to be reviewed and the return has to be certified. This is essential to avoid filling errors and to protect the revenue from unexpected VAT penalties.

Benefits of VAT Return Filing Services in Dubai

Outsourcing VAT return filing in Dubai, Sharjah, Abu Dhabi, and any other emirate is the best option for compliance. Our VAT consultants in the UAE have expert knowledge of the authorities and years of experience in all major industries. Support and guidance in preparing your VAT return will benefit you in many ways. As below:

• Opportunity to save excess VAT
• Check all your VAT transactions
• Raise the status of your business
• Compliance of transactions with VAT laws
• Partners feel confident about their transactions
• Reduced likelihood of errors in submitted documents
• Protect your revenue from VAT penalties

BestaxCA Helps Businesses With Their VAT Returns

If you are worried about completing your VAT return in accordance with FTA standards, then BestaxCA is the ideal solution. BestaxCA has a dedicated team of financial advisors and VAT experts in Dubai. We offer a wide range of VAT services such as VAT Registration, VAT return filing, VAT refunds, VAT de-registration, VAT pre-inspection, VAT advice in the UAE, VAT FTA audit assistance, VAT penalty review, and VAT penalty waiver applications.

We offer VAT return filing services in Dubai to all our local and international clients. We check all the required information on time on a monthly and quarterly basis. We ensure that all tax laws and regulations are followed in all of your company’s financial operations. They will assist you with their expertise in completing VAT returns in accordance with VAT law. Get in touch with the country’s best Tax Advisors in the UAE.