Registering under the VAT Law means that the government recognizes a company as a supplier of goods and services and is authorized to collect and pay VAT from customers to the government. Only companies registered with VAT can:
Are all firms and businesses subject to VAT registration? No, only those companies that exceed AED 375,000 with the supplies and imports of goods/services subject to tax are liable to VAT registration. Depending on the registration threshold, a company must register or optionally can apply for registration or apply for exemption from registration of VAT registration. On this basis, registration of VAT in the UAE can be divided into the following categories:
Through our experienced and professional VAT consultants. Ayadi Group can organize your business in the most tax-efficient means in compliance with (FTA) requirements.
Moreover, registered companies must adapt their annual reporting structure to compliance requirements, such as accurate and up-to-date books of accounts, taxable documents such as tax invoices, credit notes, debit notes, records of all inbound and outbound deliveries, etc.
Thereby, understanding the basics of VAT will be one of the vital steps for your VAT preparation and obtaining VAT registration will be the first step towards transitioning your businesses to the VAT era. Who Should Register Under V
