VAT Return Filing Service in UAE

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VAT Return
Filing Service in UAE Make your team work
smarter, not harder
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VAT return filing in UAE depends on the tax
periods assigned to your business by FTA upon
VAT Registration. FTA, throughout the approval
stages of VAT registration, determines the tax
periods for registrants which can be monthly or
quarterly as the authority may consider fit.
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VAT return Filing in UAE doesnt need submission
of documents like tax invoices, tax credit
notes at the time of return filing. The
registrant is accountable to keep up all the
documents related to his business and need to
furnish them as and when sought by FTA.
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Importance of VAT return Filing in the UAE
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As a VAT registration in UAE, it is the
responsibility of a business to report the
details of its provides to the authority.
comparing to the other tax regimes, VAT return
filing in the UAE is relatively an easy method
provided you understand the law completely.As it
is construed as an uncomplicated method, we have
seen a lot of companies taking it gently and end
up paying hefty penalties. Therefore, it is
Mandatory that you file your VAT return properly
and on time.
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Penalties related to VAT return
filing in the UAE If a taxable person fails to
file his return on or before the day of the
month, he will incur a non-filing penalty of
1,000 for the first time. 2,000 in case of
repetition.
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If a taxable person fails to remit his
dues on or before the day of the month, he will
incur a non-payment penalty as follows 2 of
the unpaid tax is due like a shot. 4
-dimensional is due on the seventh day following
the deadline for payment. 1 chronicle daily
penalty is imposed charges on any amount thats
still unpaid one month after the due date for
payment, up to a maximum of 300th. These VAT
penalties will be computed and charged to your
Federal Tax Authority account from the date of
default. Such VAT penalties can result in huge
expenses to a business which can be avoided if
proper attention is given to tax return filing.
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Some of the common

• errors businesses create whereas VAT returns
  Filing.
• It is very crucial for a business to know the
  layout and reasoning for each column in a VAT
  return. only by a proper understanding of the
  law, one can understand the intended use of a
  specific column in a tax return.

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The most common errors we have noted are as
follows
Non-maintenance of proper records Wrong
emirate-wise reporting improper adjustment of
bad debt strong usage of the Adjustment column
just in case of imports incorrect input claims
as well as personal expenses and entertainment
expenses. Improper adjustment of taxes in wrong
tax periods wrong usage of Refund and VDF
Forms Non-disclosure of import of service
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