VAT Return Filing

At the end of each tax period, businesses that are registered for VAT (taxable persons) require to submit a VAT return to the Federal Tax Authority (FTA).

A VAT return reviews the worth of the supplies and purchases a taxable person may have generated in the course of the tax period, which depicts the taxable person’s VAT liability.

The difference between the output tax payable (i.e., VAT charges on supplies of goods/services) for a given period of tax and the input tax (i.e. the VAT gained on purchases) is calculated as the liability of VAT.

Therefore, if, the output tax value is greater than the input tax, the difference ought to be paid to FTA. However, in a vice-verse scenario, the taxable person will have a surplus input of the tax claimed; they will be permitted to set this off against consequent payment due to FTA.

VAT return filing, must be done online through the FTA portal it is mandatory to make sure that all tax return requirements have been met, before filing for VAT return is proceeded with.

It is essential for taxable industries to file VAT returns with FTA typically within 28 days of the end of the ‘tax period’ which pre-defined for each business type. A ‘tax period’ defined as an exact period for which the payable tax will be evaluated and paid. The patterned tax period is:

1. Quarterly for companies with a yearly turnover below AED150 million
2. Monthly for companies with a yearly turnover of AED150 million or more

Assists You in Filing Your VAT Returns

VAT return filing is an essential component of the state’s VAT system and helps report the VAT collected and paid to the tax authorities. The VAT is filed on the website of the Federal Tax Authority of UAE. The businesses that have recently set up or are new to the VAT filing can take the VAT return filing services in Dubai, Sharjah from the Brooks Management Consultancies. 

We will review your taxable goods and calculate the exact VAT you need to file with the FTA. It is done online through their portal, so you need not worry, as you have to represent the value of your sales and purchases and calculate the due tax. You do not require submitting the document like tax credit notes or the tax invoice.

How We File Your VAT Returns?

We prove quite helpful for the foreign entities that have established their business in UAE. Our work process involves:

We help you streamline your VAT return with our VAT Return Filing Services in Dubai, Sharjah.

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