VAT return filing in UAE
Every taxable person is required to file a VAT return in the UAE to the Federal Tax Authority (FTA) at the end of each Tax period. As per Article 64 of the Executive Regulations of the VAT Decree-Law, the FTA should receive the VAT Return no later than the 28th day following the end of the Tax Period. The Regulations also define the Standard Tax Period for filing the VAT Return in the UAE as a three-calendar-month ending on the date that the Authority determines. Every taxable person who has registered for UAE VAT should file the VAT returns. Non-filing or late-filing of VAT returns attract serious consequences and the businesses should consult with the best tax agents in Dubai, UAE to ensure compliance.
What Should a Tax Return Contain?
The UAE VAT Law says the VAT return should contain all the necessary details as request by the FTA. However, registered tax agents in Dubai recommends the following information should be included in the tax return:
- The name, address and the TRN of the Registrant
- Tax Period related to the VAT Return filing
- The date of submission of UAE VAT Return
- Value of Taxable Supplies made by the Person in the Tax Period and the Output Tax charged and Emirates-wise
- Value of Taxable Supplies subject to the zero rates made by the Person in the Tax Period
- The value of Exempt Supplies made by the Person in the Tax Period.
- The value of any supplies subject to Clauses (1) and (3) of Article (48) of the Decree-Law (Reverse Charge)
- The value of expenses incurred in respect of which the Person seeks to recover Input Tax and the amount of Recoverable Tax.
- The total value of Due Tax and Recoverable Tax for the Tax Period.
- The Payable Tax for the Tax Period
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How to File UAE VAT Return to Federal Tax Authority?
The filing of UAE VAT return is an online process and it can be performed only through FTA’s portal. The FTA as of yet doesn’t accept any offline VAT return filing in the UAE. The entities that have registered for VAT in the UAE must file the return in the VAT 201 form. The VAT 201 form can be used by all the VAT registrants as soon as the tax period expires. Registered tax agents in Dubai will file the tax returns on behalf of the taxable persons. After logging into the FTA portal and selecting the VAT 201 form, the Vat registrants need to check the following,
- Standard Rated Supplies
- Tax refunds that are given to tourists
- Supplies subject to Reverse Charge Mechanism Provisions
- Zero-rated Supplies
- Exempt Supplies
- Goods imported into the UAE
- Adjustments to the goods imported into the UAE
- Standard-rated expenses
- Calculation of due tax
- Refund of recoverable tax
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