The Federal Tax Authority – FTA opens its online portal which has given the opportunity to the taxpayers for registering under the Value Added Tax. The FTA has explained the last date for submitting the UAE VAT Registration form. Every business of the same kind should immediately consider the timeline required for their turnover. Every business should take this seriously and consider VAT registration as a milestone.
UAE VAT Registration: In Detail;
The FTA has announced that different levels of registration process introduce. Also, it is inevitable to complete the VAT registration form and to set up an online account on the FTA website. The guide will be provided at the time of registration. This guide will help you to know more about UAE VAT Registration. Especially, those Businesses which lists to UAE VAT Registration.
Therefore, the businesses meeting the below scenarios must agree with the relevant application dates for the UAE VAT Registration:
Businesses with an annual turnover exceeding AED 150 million must apply for registration by 31 October 2017. Businesses who fail to register for VAT by their specific time-limit may pay with a late registration penalty.
Also, the businesses with an annual turnover exceeding AED 10 million must apply for registration by 30 November 2017
Remaining businesses with an annual turnover will exceed the mandatory registration threshold (expecting to be AED 375,000) must apply for registration by 4 December 2017
Before the fulfilment of the UAE VAT registration form, the FTA provides a guide that shares essential information that businesses should be aware of, which are the information stating the registration process, the registration of VAT group. The necessity for the registration and if only zero-rate supplies advance. In addition, details clarifying the processes are to be found in the UAE VAT registration guide.
Hence, it highly recommends a business to visit the FTA official website and to kick-start their VAT registration. Also, consider the deadline provided by the FTA and other recommendations required for the VAT Grouping.