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VAT RETURN FILING IN THE UAE
Businesses registered for VAT in the UAE are required to file Value Added Tax (VAT) returns. This task requires sending regular reports to the Federal Tax Authority (FTA) that outline the VAT received from sales and the VAT disbursed on buys. Timely and accurate submission of VAT returns is essential to ensure compliance with UAE tax laws and prevent incurring fines.
Businesses registered for VAT in UAE must submit regular VAT returns to the Federal Tax Authority (FTA). The VAT return is a report that outlines a business's VAT transactions over a set time period, usually done quarterly.
Our committed VAT accountants assist in determining the tax owed or refundable amount by verifying Sales invoices and expenses bills in accordance with UAE VAT laws, and support in maintaining accurate books of accounts per VAT regulations for businesses.
Steps to VAT Return Filing in the UAE
- Step 1: Gathering and confirming documents
- Step2: calculation of Tax due/owed
- Step 3: Submitting the tax return on the emaratax portal prior to the deadline.
- Step 4: Keep in touch
In the UAE, if VAT returns are not submitted on time, the Federal Tax Authority (FTA) can impose penalties. The consequences differ based on the gravity of the breach and are specified in the UAE VAT laws.
In order to prevent fines, it is essential for companies in the UAE to adhere to VAT return filing regulations and guarantee that returns are accurately submitted on time. We, at Cornerstone, guarantee file the tax return on time and error-free to ensure smooth business operations.