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VAT Snapshot – 2018 (VAT in GCC)

Value Added Tax in Dubai - UAE Snapshot


 VAT Registration Dates

VAT Registration Opened |  1st October 2017
  • Registration Deadline 31 October 2017 : Companies/ business having an Annual Turnover of more than AED 150 million
  • Registration Deadline 30 November 2017 : Companies/ business having an Annual Turnover of more than AED 10 million
  • Registration Deadline 04 December 2017 : All other companies/ organizations who exceed the minimum threshold which is AED375,000.

Record Maintenance
  • Proper books of accounts and financial records (invoices, vouchers, bills, agreements)
  • Books of accounts to be maintained for 5 years
  • VAT related record, Invoices, Bills should be maintained with serial numbers

VAT Percentage
  • Standard Rated – 5%
  • Zero Rated 0%


VAT Registration
  • Mandatory Registration - Annual Turnover of more than AED375,000
  • Optional Registration - Annual Turnover 187,500 to 375,000
  • Registration Not Required – Annual Turnover below AED 187,500

HOW WE CAN HELP
Our Indirect Tax Team of experts is available in GCC Region to discuss and bring clarity to the specific challenges that your businesses might face in getting yourself ready for VAT. Please contact our indirect tax executives to learn more.

LinkedIn: Waheed Ensari

VAT Consultancy Services
VAT Advisory and Consultancy services are available for GCC (Gulf Cooperation Council) Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates


To know more whatsapp +923218408828 | email: info@thebscon.com

Take on VAT Readiness Survey here

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  1. MohammedNovember 26, 2017 at 9:02 AM

    VAT Registration Countdown begins | Hurry Up and Get Registered

    Getting registered for VAT in Dubai is priority number 1 for every organization, with a minimum turnover of AED 375,000 and above, for VAT registration VAT in Dubai with the Federal Tax Authority on the website www.tax.gov.ae. After registration for VAT, the tax Registration Number will be issued by Federal Tax Authority.

    http://www.thebscon.com/how-to-register-for-vat-in-dubai/

    ReplyDelete

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