VAT returns are important because they contain the records of the tax paid by the users in a given period. It is a formal document that works as a proof that the certain party has paid their tax. The government needs these records to maintain a proper taxation system where each individual pays his/her tax liability on time. Once the VAT implementation starts, the returns should be submitted at the regular periods. The duration for filing it is likely to be 3 months i.e. 4 times a year or in some cases monthly i.e. 12 times a year. The registered businesses can file their returns using the online services of the Federal tax authority portal.
Since the VAT is proposed to be active from January 2018, we are guiding tax payers to file the value added tax returns too. A VAT return is generally paid four times a year and in some cases monthly. It is a record or a statement of the VAT paid during a quarter or month. The rule for the duration of submission is likely to be 3 months or monthly in Dubai too. Agxauditors assures best VAT Return Filing Services in Dubai.