by Unitedvat
Posted on Nov 29, 2017
For all those people who are worried about the registration under VAT in UAE the Federal Tax Authority has now introduced an official Tax Website which enables to know about VAT in the UAE and through this portal, eligible businesses can register for VAT in the UAE. It also provides an option to register for Excise Tax as well.
The UAE’s Federal Tax Authority (FTA) has launched a new website which is especially designed to help businesses prepare for the upcoming implementation of value added tax (VAT) in GCC from1st January 2018, this particular websites and guidelines issued by FTA will help the seeker to find the way out as it contains information on the published legislation related to VAT, frequently asked questions, advice and guidance for businesses on the new taxes, as well as details on training sessions and webinars conducted by the FTA for businesses around the UAE.
Businesses can start registering for VAT three months before this date, that is, from October 1, 2017 and all those businesses with an annual turnover of Dh375,000 must go for online registration through the authority's website in January 2018.
Businesses can either go for voluntary registration if exceed the threshold of AED 187,500 or can go for mandatory registration if exceed threshold of AED 375,000.
According to FTA every single business in the UAE that produces, imports or stockpiles excise goods, or intends to do so, is necessary to register. The current excise goods with tax rates are the following:
For all those businesses that haven’t registered yet are required to provide the following:
• Trade License(s) (if applicable)
• Certificate of Incorporation (if applicable)
• Customs number(s) issued by Customs department(s) (if applicable)
• Passport, Emirates ID of the manager, owner, and senior management
• Authorized signatory documents
• Articles of Association/Partnership Agreement/Club or Association Registration/Law or Decree (if applicable)
• Bank Account details
For more information about Excise Registration visit unitedvat.com