FTA APPROVED TAX AGENCY
VAT Returns deadline is 28th of every month.             Excise Tax Returns deadline is 15th of every month             ESR Notification Submission deadline, 6 months from the end of the financial year             ESR Report Submission deadline, 12 months from the end of the financial year             Click here to know the Foreign Exchange (FX) rates applicable for VAT from the UAE Central Bank website
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Value Added Tax (VAT)

Value Added Tax or VAT is one of the most common types of consumption tax found around the world. Over 150 countries have implemented VAT. It includes the European Union (EU), UK, Canada, New Zealand, Australia, Singapore, Malaysia, India, USA, and a host of countries.

VAT in the United Arab Emirates

Value Added Tax (VAT) is an indirect tax. It is a type of general consumption tax that is collected based on the value added at each stage of production or distribution/sales. It is usually implemented as a destination-based tax.

VAT is applicable to the majority of transactions in goods and services. There are only a few items exempted from VAT in the UAE, few other items are zero-rated and the rest of the items are standard rated.

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Impact of VAT on businesses

All businesses have to carefully record their business income, costs, assets, liabilities and associated VAT charges irrespective of the size of the operations.

Registered businesses and traders will charge VAT at the prevailing rate on all of their sale of goods and services (output tax) and incur VAT on goods/services that they buy from suppliers (input tax).

Criteria for registering for VAT

A business must register for VAT if its taxable supplies and imports or taxable expenses exceeds AED 375,000 during last 12 months (Mandatory Registration).

It is optional for businesses whose taxable supplies and imports or taxable expenses exceed AED 187,500 but do not exceed AED 375,000 during last 12 months (Voluntary Registration).

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Services offered in Value Added Tax (VAT) by Spectrum

How Spectrum can help you?

  • Spectrum Auditing and Accounting is an end-to-end accounting and audit services company and is a registered Tax Agent from Federal Tax Agency, UAE, based in Dubai. We offer VAT Agency & Audit services in Dubai, Abu Dhabi, Sharjah, Ras Al Khaimah, Fujairah, Ajman, Umm Al Quwain covering the whole of UAE.
  • Apart from the mandatory Value Added Tax (VAT), we also specialize in a spectrum of services which includes Accounting, Auditing, Economic Substance Regulations (ESR), Mergers and Acquisitions (M&A), Company Formation and Liquidation, Country by Country Reporting (CbCR), Business Advisory Services and other business services. Our magnitude of experience, competence and reputation makes us a distinctive world-class accounting service provider.
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