Value Added Tax (VAT) is an indirect tax on the consumption of goods and services at every stage of the supply chain. The UAE introduced VAT from January 1, 2018, in the form of a standard rate of 5%. The Federal Tax Authority (FTA) governs VAT compliance, registration, filing, and payment regulations. UAE business entities need to comply with VAT regulations to prevent penalties and legal proceedings.
VAT registration is the process by which a business enrolls with the tax authority to collect and remit Value Added Tax on taxable supplies. It ensures compliance with legal requirements, allows input tax credit claims, builds business credibility, and is mandatory once turnover crosses the prescribed threshold.
VAT filing is the process where registered businesses in the UAE submit periodic returns to the Federal Tax Authority (FTA), detailing output tax collected and input tax paid. It ensures compliance, accurate reporting of transactions, and payment of net VAT liability, usually on a quarterly or monthly basis.
A VAT audit is a review conducted by the UAE Federal Tax Authority (FTA) to verify a business’s compliance with VAT laws. It examines records, returns, and invoices to ensure accuracy of tax reporting. Proper documentation and timely compliance help businesses avoid penalties and maintain regulatory trust.
VAT deregistration is the process by which a business cancels its VAT registration with the UAE Federal Tax Authority (FTA). It is applicable when turnover falls below the mandatory threshold, the business ceases operations, or meets other FTA criteria. Deregistration ensures compliance and prevents unnecessary VAT obligations.
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IGSK Corporate Tax Advisors has expert team specializes in Corporate Tax, VAT, Accounting, Bookkeeping, Auditing, Compliance & Business Advisory services, delivering tailored financial solutions designed to empower businesses across the UAE. With us, you gain a partner committed to your success at every stage of your journey.
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IGSK Corporate Tax Advisors has supported me with my PRO services, and everything was completed on time. Their attention to detail and quick response made the process very easy for me.
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