Vat return filing is an essential component of the VAT system since it is used to report the VAT collected and paid by the company to the tax authority during a specific time period. VAT-registered firms can utilize the online portal made accessible on the Federal Tax Authority's (FTA) website to file VAT returns in the UAE. Form VAT201 is the form that is used to file a VAT return.
When should a taxable firm in the UAE file a VAT return?
Any taxable individual in the UAE is required to file a VAT return on a regular basis. The VAT return must be filed by the 28th of the month following the tax period stipulated by the tax authorities. The taxable entity must also pay the necessary tax amount to the tax authorities within the time frame set by the VAT law in the UAE. In the case of VAT, the deadline for payment to the tax authorities is 28 days following the end of the relevant tax period.
How can we help you file your VAT return?
Nadeem and Umendra Chartered Accountants offers a staff of tax specialists who can assist you with filing your VAT return. We will assist you in filing your VAT return by completing the following tasks:
Our staff will visit your location on a regular basis to gather the information and records needed to file the tax return. At the end of each tax period, our staff will prepare and file the tax return on your behalf in accordance with the VAT law in force in the UAE.
Our tax professionals will also advise and guide you on how to pay your tax due in conformity with VAT regulations.
We will ensure that your return is submitted within the time frame provided by the FTA.
Proper tax planning will be undertaken for the client company.
How do you file your VAT returns in the UAE?
Any taxable individual in the UAE can file their VAT return utilizing the online portal provided on the FTA's website. The individual submitting the tax return should first access the Form VAT201 by connecting into the FTA online portal's e-services and entering the corresponding username/email address and password. Our tax pros will assist you in completing the whole form and filing the return by the FTA's deadline.
What information must the taxable entity provide in its VAT return?
In the UAE, a tax return gives information on the amount of tax payable or refundable for a certain tax period. The taxable person must submit information on the amount of output tax payable as well as the amount of input cover available against the output tax. If an entity's output tax exceeds its input tax, the entity is required to pay the difference as tax to the authority. On the other hand, if the entity's input tax exceeds its output tax, the authority must return the excess amount to the entity.
How Nadeem and Umendra Chartered Accountants Can Assist You With Your Tax Returns
Our experienced Tax Consultancy Team is available by phone or email to serve you with our Professional Tax / VAT Consultancy Services, which include filing your VAT returns and assisting you in implementing VAT across your organization, as well as training your staff to follow required processes and procedures.