VAT Registration & Filing

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VAT Filing

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What is a Tax return?

Every tax period concludes with the filing of the tax return, a taxable person or a VAT-registered business must file a VAT return to Federal Tax Authority. This is a summary of the values of the supplies and purchases that a company has made during the taxable period. Calculation of VAT is a tedious process. As calculating taxable supplies and exports for some time are complex. After calculating and then substrating the demand and net supplies. The VAT returns have to be filed through FTA’s portal. Right Way, VAT Filing Service in UAE is there to help you sort out all these tensions.

Corporate Tax:

The corporate tax is a direct tax levied on corporations and other entities’ net income. The main aim of corporate tax is that it fastens the position of UAE as a leading global hub for business and investment. It helps to transform and accelerate UAEs development to meet its strategic goals. Corperate tax aids in reaffirming its commitment to tax transparency and preventing harmful tax practices.

Who should apply?

Corporate tax will apply to all the individuals and businesses who conduct business activities under commercial license in UAE. For all the foreign organization who conduct business or trade in UAE. Banking operations and businesses engaged in real estate, construction, development, brokerage, and agency activities.

What are the corporate tax rates?

As per the Minister of Finance in UAE, the Corperate tax rates are,

  • 0 percent for taxable income up to AED 375,000
  • 9 percent for taxable income above AED 375,000
  • A different rate for all the multinational companies who meets specific criteria.
What is the deadline for businesses to file their VAT returns?

All taxable businesses must file VAT returns with Federal Tax Authority regularly. That is usually within 28 of the end of the tax period. During this period, the amount of tax to be paid is calculated and paid to FTA. The standard tax period is,

  • Quarterly for business with annual turnover below AED 150 million
  • If your business has a turnover of over 150 million AED per year, you will be charged monthly.

Failure in filing the VAT within the given time will make the violator answerable for fines as per the rules. So, here is where the Right W ay is there to help you. Being the best VAT Filing Service in UAE, we help you to file your VAT tax on time.

VAT Return Contents

A VAT return contains two sections,

  • The first section record the details of the sales, purchase, taxpayer, and net VAT due.
  • There is a section on additional reporting requirements that applies only to certain businesses in certain situations. The fields in this section are related to stock transfer, profit margin scheme, and VAT.

Right Way, VAT Filing Service in Dubai, is there to clear all your doubts regarding VAT registration and VAT filing.

Vat Registration

Starting a new business in the UAE? Here’s how to make it big. Before you start your business, there are a few important things that you must know. It is crucial to meet a VAT consultant in Dubai before you start your business. As you all know, according to the new tax regulations all business that is to open in UAE requires to register for VAT (Value Added Tax). Yes, you are included in that group! It is important to get in touch with a VAT consultant if you are planning to start hospitality or a retail industry sector. This will save you from not falling into tax issues. To welcome a fresh start for your business and prevent tax infringements, here are a few things you need to know about tax regulations currently in effect. VAT registration in UAE: Right way Accounting and Bookkeeping Services is one of the best options for getting VAT registration services in Dubai and across

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What is Vat?

Value Added Tax was introduced in UAE in January 2018. As a general consumption tax, VAT is collected incrementally at a rate of 5% as an indirect tax. This tax was created as a new source of revenue for the country. Finally, this amount will be used to provide high-quality service to the public.

VAT registration: why should you do it?

The reason why you should register for VAT is that the law wants you to do so. Registering for VAT also allows you to charge a proper amount of output tax on taxable goods and services and account for the VAT your customers pay on their tax returns with the Federal Tax Authority (FTA). The VAT that you have paid on business-related goods can be reclaimed, as long as you have evidence that you have paid VAT. Without any worries, contact Right Way, VAT Registration Service in UAE, to know why you should register for Value Added Tax.

VAT number registration: how to do it?

The process of registering for the Value Added Tax can never get so easier. To add your company’s VAT number, you should add it to the portal opened for VAT registration by the Federal Tax Authority.

Planning to start your business in UAE. Don’t miss out on the opportunity to dominate your target industry by facing any penalty due to tax issues. Contact us, Right Way, VAT Registration Services in UAE to know more about the tax regulation in UAE.