Hussain Al Shemsi Chartered Accountants

VAT Filing

VAT Filing in UAE

VAT filing in UAE is a vital requirement of the VAT system for the purpose of reporting the VAT collected and paid by the entity to the Federal Tax Authority for the given specific time period. Assistance in VAT Filing in UAE through due expertise by professionals is available to take care of all your VAT matters.

Diligent documentation is required for VAT accounting. The companies are required to keep the records for future checks by the government. Therefore, you need assistance filing your VAT return. Here at HALSCA, our VAT experts are here to help you through this process. We have expertise in VAT and can assist you in VAT Filing in UAE. Our services will help you in avoiding fines and penalties.

How To File VAT Return In UAE?

VAT return filing is a pivotal process and it is compulsory for VAT-registered businesses. This must be in accordance with the provisions of the UAE VAT law. 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.

VAT return filing simply states how much VAT is to be paid to or repaid by the tax authorities. Usually, VAT return is done quarterly and allows businesses to track the right financial path. Being VAT compliant while carrying out your business, helps in avoiding any unnecessary penalty that becomes a hurdle.

Few common mistakes/hindrances entities make while VAT Filing in UAE:
  • No proper records maintained
  • Improper exclusions or inclusions of sales and purchase amounts
  • No VAT planning


 

  • Not issuing valid tax invoices
  • Misinterpretation of VAT legislation
  • Flawed accounting system

Filing your VAT returns is a very important aspect to monitor your VAT payments and that you adhere to VAT regulations. With the right agency, you can ensure accuracy and persistence during the whole process of VAT filing in the UAE.

WHO

Who is having TRN

WHEN

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. 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. within 28 days from the end of each tax period.

WHERE

Federal Tax Authority’s online portal https://eservices.tax.gov.ae/en-us

 

HOW

As per Article (8) of Federal Law No. (7) of 2017 on tax procedures, every taxable person shall prepare and submit the tax return for each tax period to the authority and need to settle the payable tax within the timeframe specified in the tax law. Return filing must be done through online portal. The time frame for filing the VAT Return will be mentioned in the UAE VAT Regulations/ UAE VAT Law. Taxable person has to fill Form 201 for the filing of the tax returns

Following are the details required to fill in the form 201

  • Standard rated supplies
  • Tax Refunds provided to Tourists under the Tax Refunds for Tourists Scheme
  • Supplies subject to the reverse charge provisions
  • Zero rated supplies
  • Exempt supplies
  • Goods imported into the UAE
  • Adjustments to goods imported into the UAE
  • Standard rated expenses
  • Supplies subject to the reverse charge provisions (Expenses)