Timely and precise tax return filing is not only mandatory for operating businesses but also plays a critical role in the overall success of them. Since VAT is expected to be applicable in Ajman from January 2018 onwards, businesses need to prepare for VAT return filing in Ajman to avoid missing any major step. Timely filing of the VAT returns is essential for the registered businesses in order to be compliant with the rules and regulations laid down in the law.
Every VAT registered business has to pay the VAT due (after adjusting the input VAT from the Output VAT liability) before filling the return. VAT return can be filled only after the VAT due amount is deposited, with the regulatory authorities. After the implementation of VAT, the returns by businesses should be filed at regular intervals. This duration is supposed to be 3 months which means 4 times a year or in some cases, it could be 12 times a year. To enable ease in filing, the government has made arrangements for online filing of VAT through the Federal Tax Authority Portal.