How to file VAT return?

VAT Returns Filing has to be done through online portal of the Federal Tax Authority (FTA) https://eservices.tax.gov.ae/en-us/login. The form used for VAT return filing is called Form VAT 201. A taxable person is responsible to submit VAT return in the UAE in the prescribed format given by the FTA. Every taxable person is required to submit the VAT Return within 28 days from the end of each Tax period prescribed by the FTA. This must be in accordance with the provisions of the UAE VAT law.

Failure to file a tax return

The taxable person is also liable to remit the amount of tax due to the FTA within the time frame specified by the UAE VAT Law i.e. failure to file a tax return within the specified timeframe will make the violator liable for fines as per the provisions of Cabinet Resolution No. 40 of 2017 on Administrative Penalties for Violations of Tax Laws in the UAE.

 

Information required for VAT return filing

Output Tax:

Tax Liabilities under Standard Rated Supplies (5%) emirates wise.

Tax Liabilities on goods imported through customs.

Export supplies information.

Tax on goods imported on which tax liabilities are not created – if any.

Tax liability on import of services.

Input Tax:

Tax on Standard Rated purchases

Tax on Standard rated expenses.

Tax on import of goods

Tax on import of services

How Spectrum can help you?

Spectrum’s expert team of professionals can review the sales and purchase transactions of business and arrive to the amount of tax payable for a particular period and assist in filing the VAT return within time to avoid any late VAT return filing penalty. 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.

Tel: +971 4 269 9329 | E-Mail: info@spectrumaccounts.com

FTA Approved TAX Agency