Vat Registration and Filings
Starting a new business in the UAE? Here’s how to make it big. Before you start your business, there are a few important things that you must know. It is crucial to meet a VAT consultant in Dubai before you start your business. As you all know, according to the new tax regulations all business that is to open in UAE requires to register for VAT (Value Added Tax). Yes, you are included in that group! It is important to get in touch with a VAT consultant if you are planning to start hospitality or a retail industry sector. This will save you from not falling into tax issues. To welcome a fresh start for your business and prevent tax infringements, here are a few things you need to know about tax regulations currently in effect. VAT registration in UAE: Right way Accounting and Bookkeeping Services is one of the best options for getting VAT registration services in Dubai and across
- What is Vat?
Value Added Tax was introduced in UAE in January 2018. As a general consumption tax, VAT is collected incrementally at a rate of 5% as an indirect tax. This tax was created as a new source of revenue for the country. Finally, this amount will be used to provide high-quality service to the public.
- VAT registration: why should you do it?
The reason why you should register for VAT is that the law wants you to do so. Registering for VAT also allows you to charge a proper amount of output tax on taxable goods and services and account for the VAT your customers pay on their tax returns with the Federal Tax Authority (FTA). The VAT that you have paid on business-related goods can be reclaimed, as long as you have evidence that you have paid VAT. Without any worries, contact Right Way, VAT Registration Service in UAE, to know why you should register for Value Added Tax.
- VAT number registration: how to do it?
The process of registering for the Value Added Tax can never get so easier. To add your company’s VAT number, you should add it to the portal opened for VAT registration by the Federal Tax Authority.
Planning to start your business in UAE. Don’t miss out on the opportunity to dominate your target industry by facing any penalty due to tax issues. Contact us, Right Way, VAT Registration Services in UAE to know more about the tax regulation in UAE.