Everyone is aware about the implementation of Value Added Tax (VAT) in UAE. Most of the people in UAE are now quite much aware about the reasons of implementation of this new tax in the country and its effects on their daily lives and businesses. But still there is lot of ambiguity about the process of submitting VAT returns and entrepreneurs haven’t understands yet that how will they file the tax returns properly without any mistake.
It is important to note that the initial VAT return is due on 28th of February 2018. There are two types according to which VAT returns can be filed. These can be submitted either after three months or at the end of each month. This initial VAT return date is applicable on those businesses that will pay monthly VAT returns.
A company will remain in good books of tax authorities with timely submission of its tax returns. Getting late for VAT filing can result in facing penalties by tax authorities. But it is important to note that there is no manual procedure to file tax returns and the businesses will have to register on the website of FDA to submit the tax via VAT e-filing.
Procedure of VAT e-filing:
- Login at the Federal Tax Authority’s website by using your TIN and password
- Choose between options of “original” or “revised” according to your specific condition
- Now completely fill the VAT return form
- Click on “submit”
- Now save the pdf file and get the printout of the completely filled file
This is a simple but very important procedure. One must take caution in filling out the form completely without any mistake. In order to make the whole procedure quick and free from error, you can consult Riz & Mona Consultancy for assistance. We are here to provide you complete guidance on how to filing VAT returns in UAE. You can talk to us via our landline # 971-4-5586339 or email us at firstname.lastname@example.org.