VAT Return Filling
VAT Return Filing Services provide complete VAT management, handled by experts who manage all your VAT-related tasks. This includes filing VAT returns, which are essential for reporting the VAT collected and paid by your business to the tax authority during a specific period.
VAT returns must be filed regularly based on the tax period assigned to the taxable person. The VAT Return should include details of any output tax due, input tax that can be recovered, and other required information in the FTA portal format.
Are Looking for VAT Return Filing?
We offer comprehensive VAT services to address all your business VAT concerns. Our experienced VAT professionals manage your VAT affairs and transactions, allowing key stakeholders and business owners to stay in full control. Our diligent experts will resolve your VAT issues and provide optimal solutions to support your business growth.
The procedure for VAT Return Filing Services
Our experienced VAT experts will help you meet your VAT obligations. Our VAT return filing process includes the following steps:
Step 1 – We send you a VAT Return reminder
We’ll let you know when your VAT returns are due and ask for your bookkeeping records.
Step 2 – We complete your VAT return filing
After completing your returns, we’ll double-check them to ensure accuracy.
Step 3 – We submit your VAT return filing to the tax authority
Once we have your approval, we’ll proceed with submitting your VAT return to the Federal Tax Authority. Work done!
After filling out the VAT Return Form, the net amount payable will be calculated automatically. If the amount is negative, you can choose to request a refund or carry it forward to the next tax period. Payments should be made through a GIBAN (authorized bank or exchange) or with a VISA/MasterCard using the online portal, with secure login credentials.
Penalty for delay in Submission of Incorrect Tax Return
If a taxable person fails to submit their VAT return on time, the Federal Tax Authority may impose a fine of AED 1,000 for the first offense and AED 2,000 for repeat offenses.
Penalty for Submission of Incorrect Tax Return
Submitting an incorrect tax return incurs a penalty of AED 3,000 for a first-time violation. For repeat offenses within 24 months, the penalty increases to AED 5,000.
Penalty for maintain proper VAT records
If a taxable person does not maintain proper VAT records, they may face the following consequences:
- Fine of AED 10,000 for the first instance of non-compliance.
- Fine of AED 20,000 for repeated offenses.
Proper record-keeping is essential for compliance with UAE VAT regulations and to avoid these substantial penalties.
These fines apply if a taxable person fails to maintain the necessary VAT records for at least 5-7 years as required by UAE VAT law. It’s essential to keep accurate records to avoid these penalties and ensure smooth VAT compliance.
Why Al-Hisab Tax Consultancy.
Choose us for UAE VAT services because our experienced team delivers comprehensive, tailored solutions with accuracy and efficiency. We provide expert advice, timely filing, and personalized support to ensure compliance with UAE regulations. Our commitment to client satisfaction includes a free consultation and a full range of additional services, such as tax consultancy, auditing, accounting, and bookkeeping, all designed to support your business success and help you avoid penalties.