Stress-Free VAT Return Filing Solutions in UAE
Did you know that VAT return filing is a mandatory requirement for all taxable businesses in Dubai? The process can feel overwhelming, but with Now Consultant by your side, it becomes simple and stress-free.
Ever wondered why VAT return filing in the UAE is so important?
VAT return filing isn’t just about ticking boxes – it acts as a financial health check for your business, ensuring…
Compliance Confidence
Stay compliant with the FTA by letting us handle your VAT returns with accuracy and on time.
Financial Clarity
Get a crystal-clear view of your business’s financial health with just one click – thanks to our transparent reporting.
No Hefty Fines & Penalties
Stay clear of unexpected fines and penalties with our accurate VAT filing services.
No Disruptions to Operations
Timely filing ensures your business runs smoothly without any disruptions.
Strategic Decision-Making
Accurate VAT return data acts like a GPS for your business, guiding you to make informed decisions.
Turning VAT Return Filing into a Smooth Success
When you choose Quick Digits in the UAE for VAT return filing, you can expect:
Hassle-Free Submissions
A smooth, hassle-free process that ensures full compliance.
Real-Time Updates
Stay informed with timely updates on the status of your VAT returns.
Tailored Accuracy
Customized strategies designed for your business, ensuring precise and error-free filings.
Expert Guidance
Our qualified VAT professionals ensure you stay compliant and ahead at every step.
Stronger Credibility
Accurate and timely filings that build trust with stakeholders and investors.
VAT Penalties in UAE
Non-compliance with UAE VAT return filing regulations can put your business directly in the spotlight of the Federal Tax Authority (FTA). And the reality is – the consequences aren’t light warnings but substantial fines that can quickly accumulate. Staying compliant is essential, and the best way to safeguard your business is by relying on expert VAT registration and filing services in Dubai.
1. Late VAT Return Filing
Missing the filing deadline comes at a cost. The FTA imposes a penalty of AED 1,000 for the first delay. If repeated within 24 months, the fine doubles to AED 2,000. Timely filing is crucial to avoid these unnecessary expenses.
2. Incorrect VAT Return Submission
Submitting inaccurate VAT returns can be costly. Businesses may face: A fixed fine of AED 3,000 for the first mistake and AED 5,000 for the second. A percentage-based penalty calculated on the unpaid tax amount owed to the FTA due to the error.
3. Failure to Disclose Errors
If a taxable person does not voluntarily report mistakes in their VAT return: A fixed penalty of AED 3,000 applies for the first instance, and AED 5,000 for the second. Additionally, the FTA may impose a 50% penalty on the unpaid amount, especially if the error results in a financial advantage for the taxpayer.
Scope of VAT Return Filing Leave the Worries to Us!
At Quick Digits, our team of experienced VAT professionals is dedicated to making your tax journey stress-free. We go beyond basic compliance, ensuring accuracy, transparency, and strategies that align with your business goals.
Regular Check-Ins
We don’t just show up we partner with you. Through monthly or quarterly visits, we gather all the essential financial details to keep your VAT return filing in UAE seamless and stress-free.
Compliance Champions
What makes us different? We live and breathe compliance. Our experts ensure every financial move aligns with UAE VAT laws and FTA regulations, safeguarding your business from risks.
Always Ahead of the Curve
We don’t settle for outdated practices. Staying updated with the latest VAT trends and regulatory changes, we provide expert advice and proactive solutions that keep your business future-ready.
Thorough Accounts & Document Review
Our team meticulously reviews your accounts and records to maintain flawless compliance. And if the FTA ever comes calling, our VAT specialists are ready to step in and represent your company with confidence.
Why Choose Our VAT Return Experts in the UAE?
Our specialists know the ins and outs of VAT regulations in the UAE.
We make VAT return filing smooth, accurate, and stress-free.
Your business needs are always at the heart of what we do.
We anticipate challenges and provide solutions before they arise.
Your financial information stays secure and private with us.
Get easy-to-understand insights into your VAT filings.
We tailor our services to your unique business goals.
Our focus is on helping your business grow and stay compliant.
What Information Should Be Included in VAT Return Documents?
Our certified tax agents in Dubai advise that your VAT return must include the following details:
1. Your full name, registered mailing address, and Tax Registration Number (TRN).
2. The tax period covered by the return and the submission date.
3. The total value of taxable supplies during the period, the output tax charged, and a breakdown by emirate.
4. The value of all zero-rated taxable supplies.
5. The value of exempt supplies made during the tax period.
6. Supplies covered under Clauses (1) and (3) of Article (48) of the VAT Decree-Law.
7. Total expenses eligible for input tax recovery and the recoverable tax amount.
8. The overall due tax, recoverable tax, and final payable tax for the filing period.
Benefits of Hiring VAT Return Filing Services in the UAE
Partnering with VAT experts like Now Consultant helps your business stay compliant and efficient. Here’s how you benefit:
Keep cash moving smoothly with accurate filings.
Avoid compliance headaches and focus on growing your business.
Well-managed VAT returns enhance your business reputation.
No more tax confusion or missed deadlines.
Accurate and transparent filings attract potential investors.
Outsource the heavy lifting and save valuable resources.
A Simple Guide to VAT Return Filing
Below are two tables outlining the types of output and input taxes that must be reported in Form VAT201 for VAT return filing.”
Table 1: Output Tax in Form VAT201
| Type of Output Tax | Description |
|---|---|
| Standard Rated Supplies | Tax liability on goods and services sold within the UAE with a standard VAT rate of 5%. |
| Imports | Tax liability on goods purchased from outside the UAE and brought into the country through customs. |
| Services from Outside the UAE | Tax liability on services rendered from outside the UAE and received within the country. |
| Non-taxable products Purchased from Outside the UAE | Tax on products purchased outside the UAE on which no tax liability is created whatsoever. |
| Tourist Refunds | Tax refunds are made available to tourists who have purchased goods in the UAE and are eligible for a tax refund. |
Table 2: Input Tax in Form VAT201
| Type of Output Tax | Description |
|---|---|
| Standard Rated Expenses | Tax levied on expenses incurred for running a business within the UAE with a standard VAT rate of 5%. |
| Standard Rated Purchase of Goods | Tax levied on purchases of goods within the UAE with a standard VAT rate of 5%. |
| Goods from Outside UAE | Tax levied on goods purchased from outside the UAE and brought into the country through customs. |
| Services from Outside UAE | Tax levied on services rendered from outside the UAE and received within the country. |
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We Handle Your Taxes,
You Grow Your Business.
Let our experts handle Corporate Tax, VAT, Audit, and Compliance, while you focus on growing your business with peace of mind.
FAQ
Is a Tax Consultant Necessary in Dubai?
With Dubai’s evolving legal and financial landscape, it has become essential for businesses of all sizes to engage a professional tax consultant. Their expertise helps resolve complex tax matters while ensuring full compliance with Dubai’s regulations.
How Do Businesses Pay Taxes in the UAE?
Since June 1, 2023, the UAE has applied a 9% corporate tax on net profits exceeding AED 375,000. Profits below this threshold are taxed at 0%. In addition, businesses must register for VAT if their taxable supplies exceed the mandatory registration threshold of AED 375,000.
What If I Miss a Tax Deadline?
According to Cabinet Decision No. 75 of 2023 and Ministerial Decision No. 74 of 2023, the UAE Federal Tax Authority imposes a fine of AED 10,000 for late corporate tax registration. Continued delays can result in additional penalties, starting from AED 500 per month and rising up to AED 5,000 per month depending on the length of the delay.
What are your tax consultancy fees?
Our tax consultancy services in Dubai start from AED 500 and can go up to AED 20,000, based on the scope and complexity of your requirements.
Can you help with Free Zone company tax compliance?
At Quick Digits, our tax experts assist Free Zone companies with complete tax compliance, including corporate tax registration, filings, and exemption assessments. We ensure your business meets all FTA requirements accurately and on time, covering major Free Zones such as DMCC, IFZA, MEYDAN, SHAMS, and RAKEZ.