fbpx
Arabic Russian
Parker Russell UAE - Making Business Flow logo

VAT Return Filing in Dubai

Accurate VAT return filing is essential for maintaining compliance with UAE tax laws and avoiding penalties. At Parker Russell UAE, an FTA-registered tax agency (Tax Agency Number: 30000269), we provide expert services for your VAT return filing in Dubai, UAE to help businesses fulfill their obligations efficiently and accurately.

Key Features of Our VAT Return Filing Services in UAE

1. Comprehensive Analysis of Supplies

  • Standard Rated Supplies: We analyze and categorize taxable supplies subject to 5% VAT, ensuring proper reporting based on the emirate in which the supply occurred. This includes a detailed breakdown of sales and revenue streams to ensure precise categorization.
  • Zero-Rated Supplies: We identify and validate taxable supplies that qualify for 0% VAT, such as exports and specific goods and services, ensuring compliance with applicable regulations and supporting documentation.
  • Exempt Supplies: We classify exempt supplies such as residential property rentals and certain financial services, accurately reporting them to avoid errors and potential compliance risks.
  • Out-of-Scope Sales: We identify transactions that fall outside the UAE VAT scope, such as certain transactions involving entities not subject to UAE VAT, ensuring they are appropriately excluded from VAT reporting.

2. Input VAT Claim Analysis

We carefully review input VAT claims to ensure they are valid, accurate, and adequately supported by documentation. Our team helps maximize your claimable amounts while minimizing the risk of disputes with tax authorities. This includes advising on corrections and adjustments for prior periods where necessary.

3. Mixed Supply and Apportionment Analysis

For businesses making mixed supplies (a combination of taxable and exempt supplies), we calculate the correct apportionment of input VAT to ensure accurate reporting. This involves detailed analysis of usage patterns, allocation methods, and compliance with FTA guidelines.

4. Tailored Advisory Services

Our team provides bespoke advice to help businesses understand and optimize their VAT position. Whether it’s navigating sector-specific challenges or addressing complex scenarios, we offer clear and practical guidance.

Why Choose Parker Russell UAE?

Steps to complete the process of submitting a VAT Return filing  Form:

Login to the FTA eservices portal and go to the ‘VAT’ tab whereby you will be able to access your VAT Returns.

Complete the Form by filling in the sales and all other outputs as well as on expenses and all other inputs.
Submit the Form carefully by reviewing all the information entered on the form after completing all mandatory fields and confirming the declaration. Once you confirm that all the information included in the VAT Return is correct, click on the Submit button.

Based on your Payable Tax for the Tax Period, proceed to a payment of any payable tax to the FTA or request (if you wish) a VAT refund.

The VAT Return filing in Dubai, UAE necessitates an exact summary of facts; the vat workings of Sales, Purchases/Expenses, output VAT, and input VAT can all be done individually. Make sure your information produces an accurate summary of statistics that can be included in the FTA-required Vat Return format.

FAQs on VAT return filing DUBAI

1. What is VAT Return Filing?

VAT return filing is the process of submitting a report to the Federal Tax Authority (FTA) detailing the VAT your business has charged to customers and the VAT it has paid on purchases. This return ensures that your business complies with UAE VAT laws and accurately reports its VAT obligations.

2. How often do I need VAT Return Filing in UAE?

Businesses in the UAE are required to file VAT returns either quarterly or annually, depending on the size of their taxable turnover. The majority of businesses file VAT returns on a quarterly basis, but larger businesses may be required to file annually.

3. What is the deadline for VAT returns filing in Duabi, UAE ?

VAT returns must be filed by the 28th day of the month following the end of the VAT period. For example, for the VAT period ending on March 31, the return must be filed by April 28. Failing to meet the deadline can result in penalties.

4. What documents do I need to file a VAT return?

To file your VAT return, you will need the following documents:

  • Sales invoices issued during the VAT period
  • Purchase invoices and receipts for business expenses
  • Import/export documents (if applicable)
  • Any credit or debit notes issued during the period
  • Bank statements and other relevant financial documents
5. Can I claim VAT on my business expenses?

Yes, businesses can reclaim VAT paid on business-related expenses, provided these expenses are for taxable supplies and meet FTA guidelines. The VAT paid on expenses is deducted from the VAT your business collects from customers when filing your VAT return.

6. What happens if I miss the VAT return filing deadline?

If you miss the filing deadline, the FTA may impose penalties, including late filing fines and interest charges on overdue payments. Repeated delays or failure to file could lead to further consequences, such as suspension of VAT registration.

7. How do I file VAT returns with the FTA?

VAT returns are filed electronically through the FTA’s e-services portal. The process involves submitting detailed information about your taxable sales, purchases, and any VAT collected or paid during the VAT period.

8. Can Parker Russell assist with VAT return filing?

Yes, Parker Russell provides comprehensive VAT return filing services. We will prepare and file your VAT returns on time, ensuring full compliance with UAE VAT laws. Our team will also ensure that all required documents are submitted and that your VAT obligations are met efficiently.

9. What happens if I make a mistake in my VAT return?

If you make an error in your VAT return, it is important to correct it as soon as possible. The FTA allows for the amendment of VAT returns within five years of the original submission date. Our team at Parker Russell can assist you in correcting any mistakes and submitting amended returns to the FTA.

10. What are the penalties for incorrect VAT returns?

Penalties for incorrect VAT returns can include fines for underreporting VAT, late payment fines, and charges for failure to disclose accurate information. Parker Russell’s VAT filing services help minimize the risk of errors and ensure your returns are accurate and compliant.

11. How can Parker Russell help with VAT Return Filing?

Parker Russell’s expert VAT consultants assist businesses in preparing and filing accurate VAT returns, ensuring compliance with FTA regulations. We handle all aspects of VAT return filing, including gathering the necessary documentation, submitting your returns, and addressing any issues or amendments.

12. What is VAT reconciliation, and do I need it for VAT filing?

VAT reconciliation involves reviewing your business records to ensure that the VAT you have collected from customers and paid on purchases is accurate. It is essential for preparing accurate VAT returns. Parker Russell offers VAT reconciliation services to ensure that your financial records are aligned and ready for filing.

Our Strengths

Offices in the UAE

Clients Served

Years of Experience

Employees

Looking for a professional approved Tax Consultant in the UAE?

To ensure clients progress financially and socially.

24/7-support !

GET A QUOTE
Chat with us now!