Submitting Your Tax Return in the UAE

Submitting Your Tax Return in the UAE

Companies are required to record returns and submit VAT return filings periodically. Corporations are expected to file returns quarterly or monthly depending on the company’s turnover. 

Submitting a Tax Return in UAE
VAT return based on the documents available in the recordsor ledgers. We can support you with the following:

  • Timely Filing Returns with VAT authorities.
  • Measurement of net tax payable to Federal Tax Agencies
  • Calculation of refundable Tax.
  • Verifying the tax liabilities and input tax reported in account books.

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VAT return is an important factor for the effectiveness of the VAT scheme, as it acts as a way of recording the VAT received and charged to the revenue authorities. VAT return filing in the UAE is a formal way of reporting the VAT accrued and paid during the particular period. 

About VAT Return Submittion
Companies are required to document returns periodically. Initially, businesses can be anticipated to document returns every year or monthly relying on their turnover. By the end of each filing period companies need to collect the data on tax paid and tax accrued and document the returns in accordance with guidelines. A tax legal responsibility can accrue early because the date on which an order strengthen is obtained. If no advance is received then the date of delivery or invoice, whichever is in advance may be taken into consideration.

Some examples for adjustments:

  • Sales Returns:
    Companies could be allowed to reverse the tax paid on sales returns.
  • Bad Debts:
    The Law can have a provision to account for bad debts and recover the tax paid on such transactions.

Audit of Records
The government can also immediately or via its appointed agents call to audit the tax returns of the companies. Companies are required to keep physical facts  of all purchases and supplies and also maintain entire registration information of suppliers and customers. Although a completely digital systemfor tax filing will be in place, the authorities may additionally expect agencies to furnish evidence of returns. 

We Can Help

From personal tax advice to discreet international arrangements, our team of tax accountants in Dubai help to add value to your business by highlighting tax planning opportunities, and help to minimize potential penalties. Whether you are a business owner, or consultant, we have tax Consultants in Dubai with the expertise available for you. Schedule your complimentary phone consultation.