VAT Registration UAE
VAT Registration in UAE is mandatory for all those business that meet the mandatory turnover thresh hold limit, ie, AED 375,000/- per annum. This includes sale of goods or services in the normal course of business by an entity. Voluntary registration can be done if the taxable supply exceeds AED 187,500/- per year. Taxable supply includes all sales, imports value and taxable expenses.
The registration can be done online through the website of www.tax.gov.ae. VAT registration requires you to complete certain information about the applicant, contact and banking details, business relationship, about the VAT registration and declaration.
Federal Tax Authorities will review the application for registration and will allot the Tax Registration Number (TRN).
Two or more entities who are eligible to group as one tax group can apply for grouping under one common tax number and FTA will review such application and will allot a common tax number to the entity, if the criteria are met.
Entities under one tax group need to submit only one VAT Return to FTA. Also, the intercompany transactions within the tax group is exempt and is not subject to tax.
HLB HAMT can assist clients in completing the registration formalities with Federal Tax Authorities.
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