VAT returns must be filed regularly by VAT registered businesses. It is typically required for businesses to file VAT returns on a quarterly basis. The return will show how much VAT you charged during that period of time, which is referred to as Output Tax. The return will also show how much VAT has been paid on purchases, which is referred to as Input Tax. In most cases, businesses that are VAT registered can reclaim Input Tax.
It is an important mechanism for the viability of VAT system, since it works as a medium for reporting the VAT collected and paid to the revenue authorities. . VAT return filing is a formal way of reporting the VAT collected and paid during any particular period. AGX auditors are ready to help you for VAT Return in Sharjah.VAT return is prepared on the basis of the documents available in the records or ledgers. VAT returns also form a basis for auditing and activities related to enforcement of VAT law. VAT return can be filed online using e-filing portal of Federal Tax Authority. There is no provision for filling the VAT return manually; it is entirely an online process and it has to be followed on a monthly and a quarterly basis.