VAT Registration
Value Added Tax (VAT) was introduced in the UAE on 1 January 2018. It is a kind of tax levied on goods and services. VAT helps business owners collect tax from the customer on behalf of the Federal Tax Authority (FTA). Every business in the UAE must register for VAT if its taxable supplies and imports exceed AED 375,000 per annum. The rate of VAT is 5 percent. It is not mandatory for businesses whose supplies and imports exceed AED 187,500 per annum.
Documents Required to Register for VAT
- A copy of trade license
- Copy of passports of the owner or company partners
- Emirates ID of the owners and partners
- Copy of Memorandum of Association (MOA)
- Full address of the company
- Contact of Company Representative with email, phone number, and address
- Bank Details of the company including IBAN
- Details of other commercial entities of owners/partners (if any)
- Income statement for the past 12 months (Signed & Stamped by the owner or the manager)
- Details of expected revenue, turnover, and upcoming expenses for 30 days after VAT implementation
- Mention if any kind of export or import activities are carried out by the company
- Give the custom code along with the copy of Dubai Custom Code Certificate (if any)
- Give names of all GCC countries where the company has business relations
- Mention if your company requires one tax group number for all the business structures or separate tax numbers for each
- Detailed information about the business experience for the past 5 years
- ● VAT registration and VAT Group registration
- ● VAT compliance and control
- ● VAT filing and payment
- ● Data record and management
Understanding the importance and need for VAT Services for new and existing business entities, Lloyds Consultants Dubai offer a wide range of VAT services. Listed below are the services offered by us:
If you have any query regarding the VAT registration process, feel free to contact us. We are happy to assist you and clear all your queries.