VAT Return Filing Service

VAT filing service is an essential mechanism for the viability of VAT as it operates as a medium to store the VAT collected and paid by a business. In simple terms, it is a formal approach to reporting all the VAT paid and collected during a stipulated timeframe. At AKM Accounting, we are backed by a team of VAT filing experts who can assist your business in recording and filing VAT. Additionally, we also cover VAT submission, as it ensures you don’t have to incur penalties, such as improper compliance caused by wrong return filing.

While companies are required to file VAT returns periodically, initially, you would be expected to return files on a quarter or monthly basis, depending on the turnover of your business. At the end of the period, we will help you compile all the data on the tax paid and collected and document the returns per the guidelines. To learn more about VAT filing in Dubai or to avail of our service, do not hesitate to reach out to our team.

VAT Return Filing Services

What You Need to Know Before Filing VAT Return

Before filing your VAT return, there are a few factors that you need to take into consideration. You need to classify the VAT output as per the relevant sales in particular cities in UAE. Below we discuss all that you need to be aware of before you VAT submission in Dubai.

VAT on Sales and Other Outputs

  • Standard VAT return filing rates apply across the emirates
  • VAT refunds provided to tourists under the VAT return system scheme for tourists
  • Supplies are subjected to the corporation tax return
  • Zero-rated supplies
  • Exempt supplies
  • VAT on goods imported into the UAE
  • Adjustments to imports into the UAE

VAT on Expenses and Other Inputs

  • Standard VAT rated expenses to be incorporated in your VAT filing
  • Supplies subject to VAT return provisions

VAT is payable to FTA if:

VAT on sales and other productions is higher than VAT on expenses and other provisions. When preparing VAT filing, these amounts are going to be calculated.

VAT is Refundable from FTA if:

VAT on expenses and other inputs are higher than those of sales and other provisions.

Companies that fail to complete their VAT filing in Dubai on time will be penalized with a fine of AED 1000 as a first-time offender and AED 2000 if repeated continuously for the next two years.

Importance of Filing VAT Return

VAT return filing in Dubai is essential for any business entity as it proves the legality and existence of the company. Moreover, it prevents losses, further ensuring your business has the upper hand in the business domain. Unlike other VATs, corporation tax return is easier to manage.

How We Help You in Filing Your VAT Return

AKM Accounting is well equipped with VAT return filing experts and can help you in the following ways:

We will collect your VAT submission data at a regular interval. Once the tax season ends, our team shall prepare a VAT return file.

Our VAT filing specialists will ensure that your VAT return filing in Dubai is aligned with the laws and regulations and stipulated time.

We offer advisory services on payments of Minimal Tax Liability based on the local laws.

We conduct tax planning for you and represent your company to the taxman, as requested.