VAT Registration is considered as a fundamental part in an organization as it boosts the business profile, averts financial penalties . A business which has been registered for VAT will eventually acquire a unique number delivered by the authority, known as the tax registration number (TRN). All of the taxable persons who are presently residences in the UAE and whose value of yearly supplies in the UAE surpasses or is anticipated to go beyond the mandatory registration threshold (375,000 AED )should enroll for VAT in UAE. A penalty will be expected if any discrepancies will be performed by an organization . VAT applies similarly on tax-registered organizations managed on the UAE mainland and in the free zones. However, if the UAE Cabinet defines a specific free zone as a ‘designated zone’, it should be treated as outside the UAE for tax purposes.
TAX Services
Documents and Information Required for VAT Registration in the UAE:
Documents identifying the authorized signatory
passport copy, Emirates ID for the Owners
Trade license copy of the company
Certificate of incorporation, articles of association, power of attorney, etc.
Description of business activities
Turnover for the last 12 months in AED ,Supporting document for 12-month sales
Expected turnover in next 30 days
The estimated value of imports for one year from each GCC countries
The estimated value of exports for one year to each GCC countries
If you expect to deal with GCC suppliers or customers
Supporting documents for customs registration in each emirate if applicable.
