VAT registration in Dubai
In dubai it is compulsory that you have to do vat registration from January 1 2018 and this is applicable for the small to large scale business with an annual income more than 375,000/- AED. All the business firms are supposed to go for VAT registration before 2017 December 31st.
VAT registration in Dubai is an online based procedure which is clearly specified in FDA website. However before going for VAT registration you must consult with an audit firm in dubai.
Here we are listing the major records and documents required for VAT registration in Dubai
In order to apply for VAT registration following papers must be kept ready.Along with the application you are requested to upload the scanned copy of the same documents.
- Authorized signature document ex: passport
- Company License
- Record to ensure the owner is authorized to do business in Dubai Ex: Power of attorney
- Short note on Business activities or what is your business and where are your working locations
- AED turnover of last 1 year
- 12 month sales report
- 1 month expected income
- Calculation of rate of imports from other countries
- Calculation of rate of exports from other countries
- Description on whether you are expected to deal with any suppliers
- Documents for emirates registration.
- Bank details of the business/individual
AGX Accountants Group is the VAT professionals in Dubai delivering VAT Registration Service, VAT Consultancy Service, TAX Advisory Service and TAX Implementation Services in the Dubai.For any information on the VAT registration service in Dubai you can contact us any time, we are happy to assist you
The consumption tax is normally counting as TAX and is applicable for transactions, goods and services.
The impact of TAX is considered that the cost of living may get increased but it is purely depending on the life style of the people. You need to be more care taking while choosing the products. Try to chose exceptional products so that you may not feel the effects of TAX more.
The Dubai government has given the clear over view about the TAX registration and is clearly stated that how much we want to pay for each items so there wont be any confusions for the normal people
Impact of VAT registration on the business entities
Organizations will be more responsible for carefully recording their business income, expense and associated VAT charges.