VAT compliance in Dubai is important for companies at the time of VAT registration. As per the guidelines of the VAT, a business must be registered for VAT if the turnover of the company crosses AED 3,75000 yearly. If their yearly turnover is less than AED 3,75000, the registration is not mandatory for the companies.
The UAE government has been implemented the VAT in the country from 2018, so the companies and businesses need to get registered under VAT. There are some VAT compliance requirements in UAE as discussed below.
The businesses need to get registered for VAT if they meet the minimum criteria of turnover. All registered companies will get a Unique Tax Payer Registration Number. Companies should be registered under the VAT law if their annual revenue is at least 3.7 million AED. The registration for UAE VAT is optional for the business with annual revenue between 1.8 and 3.75 million AED.
It is necessary for all companies in the UAE to maintain proper financial transaction records. The financial records of the companies should be accurate, updated, and trustworthy.
The companies and businesses will be charged for VAT on all taxable products and services sold by them.
CBD Accounting and Tax Consultant is one of the leading VAT consultants in Dubai. We offer complete services for VAT Compliance in Dubai, UAE.
