When the input tax is greater than the output tax on a VAT return, the taxpayer can request a VAT refund after filing their VAT return.
The Taxpayer isrequired to complete the VAT refund application ‘Form VAT311’.
The following are the steps to submit VAT refund form:
Login to FTA e-Services Portal using your username and password
In order to access the refund form, navigate to the ‘VAT’ tab and then to the ‘VAT Refunds’ tab
On clicking ‘VAT Refund Request’, the refund form will open. Fill the details in all the applicable fields. Mandatory fields are mandatorily to be completed in order to submit the Refund Form. Most of the details are auto-populated.
FTA also requires full list of transactions of standard rated sales, zero rated sales, imports, out of scope transactions, taxable purchases and taxable expenses. In addition FTA may also request for top 5 transactions related supporting documents in each of the category to be submitted along with the list.
Refund timeline and process
When a taxpayer submits a claim for refund, the FTA will process and review the application within 20 business days of submission. The taxpayer will be notified regarding the FTA’s decision to accept or reject the claim. If the process exceeds the timeline of 20 days, the FTA will notify the taxpayer regarding the extension of the deadline
How Spectrum can help you?
Spectrum is a pioneer in the field of Value Added Tax in UAE and our team of tax experts will help you with the refund return process. We can visit your office and go through full transactions and advise on any improvements that are required with respect to compliance of VAT law like preparation of Tax invoice, recording of transactions, maintenance of sufficient records as required by the law or you can visit Spectrum office to understand more about VAT law requirements.
Spectrum Auditing and Accounting is an end-to-end accounting and audit services company and is a registered VAT Consulting firm based in Dubai. We offer VAT Agent & VAT Audit services in Dubai, Abu Dhabi, Sharjah, Ras Al Khaimah, Fujairah, Ajman, Umm Al Quwain covering the whole of UAE. We provide a comprehensive portfolio of VAT services ranging from Tax Advisory Services, VAT Implementation Services, VAT Return Filing, VAT Compliance Review, TAX Consultancy Services and Tax Agent Services apart from Tax Audit Service.
Call us today for a consultation.
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