Reviewing transactions, compiling tax figures, and preparing VAT returns for filing with the Federal Tax Authority. We ensure correct treatment of standard-rated, zero-rated, and exempt transactions.
All businesses registered for VAT in the UAE, required to submit VAT returns on a monthly or quarterly basis.
Compiling tax invoice logs and export documentation.
Reviewing sample tax invoices to verify legal elements like TRN, tax amounts, and format.
Drafting the VAT201 return and reviewing the Net VAT Payable/Refundable.
Filing the approved return on the FTA portal and issuing payment instructions.
The standard VAT rate is 5%, which applies to most goods and services, with certain items zero-rated (like international transport) or exempt (like residential rent).
The tax period is assigned by the FTA (usually quarterly or monthly). Returns must be filed and payment cleared by the 28th day of the month following the end of the tax period.
