[vc_row][vc_column][vc_custom_heading text=”VAT Refund Application” font_container=”tag:h2|font_size:21|text_align:left|color:%23333333″ google_fonts=”font_family:Oswald%3A300%2Cregular%2C700|font_style:400%20regular%3A400%3Anormal”][vc_column_text el_class=”inner-text-content”]All taxable persons are mandated to file a VAT return to the FTA, summarising the incurred VAT for the tax period. However, as mentioned above, when the input tax is greater than the output tax, the business is then eligible to request for a VAT refund. Once the VAT refund has been applied for, the usual time frame proposed by the FTA for reviewing, accepting or rejecting the submission is 20 business days.

In order to submit the claim, the taxable person, has to login to FTA e-services portal and access the refund form. All the (*) marked fields in the form are to be mandatorily filled and submitted on the portal itself. The refund form gets processed within 20 business days of submission. Once the application has been approved, within 5 business days the amount will be refunded.

It is important for companies to note that while filing for VAT refund, bank account details are correctly provided on the form. Refund requests that fail to have bank details will reject the application.[/vc_column_text][vc_empty_space][/vc_column][/vc_row][vc_row full_width=”stretch_row” css=”.vc_custom_1593584254178{padding-top: 0px !important;padding-bottom: 60px !important;background-color: rgba(234,234,234,0.34) !important;*background-color: rgb(234,234,234) !important;}”][vc_column][ct_heading text=”Request A Free Consultation!” font_size=”30″ font_size_md=”30″ font_size_sm=”18″ font_size_xs=”12″ font_weight=”” description_font_weight=”inherit”][vc_empty_space height=”25px”][contact-form-7 id=”1535″][/vc_column][/vc_row]