- November 28, 2020
- Posted by: kgrnaudit
- Category: vat
Value Added Tax is a popular form of indirect taxation used by over 180 countries around the world. Due to its implementation in the UAE, the country now has access to an alternate source of funds for the development of public services. All VAT-registered businesses need to file their VAT returns on time. Hence, VAT services in Dubai have grown quite popular in recent years. VAT registration Dubai is mandatory if a business generates more income than a threshold value, and optional otherwise. Let us now take a look at the need for VAT consultants in Dubai.
Things to Know About VAT services in Dubai
VAT consultants in Dubai can help you complete your VAT registration and file your VAT returns for you. They can also help you claim for a refund on excess amounts by filing VAT form 311. Since failure to submit VAT returns on file attracts a penalty as high as AED 1,000, all VAT-registered companies should seek the help of efficient VAT consultants in Dubai. These consultants will help your company maintain compliance and also avoid paying too much tax.
All about VAT return Filing
The tax period for eligible taxpayers is three months ending on an FTA-determined date. However, some businesses must file their VAT returns every month, rather than the regular quarterly basis. The taxpayer can request the FTA to accept a period ending on their month of choosing. After careful verification, the FTA may either accept or reject such a request. However, the last return must reach the FTA at least within 28 days after the tax period has ended.
KGRN is a VAT consultant in Dubai who can guide you with all matters related to VAT registration and return filing. We have decades’ worth of experience in accounting and auditing and have helped numerous companies grow and expand their businesses. Partner with us, at KGRN and say goodbye to all your VAT-related woes.
For enquiries, call +971 45 570 204 / E-mail: email@example.com