VAT Registration
A business must register for VAT if the taxable supplies and imports exceed the mandatory registration threshold of AED 375,000. Furthermore, a business may choose to register for VAT voluntarily where the total value of its taxable supplies and imports (or taxable expenses) is in excess of the voluntary registration threshold of AED 187,500. Failure to notify the FTA of a VAT registration requirement in the timeframe specified in the Tax Law will result in an administrative penalty of AED10,000. Future Elite can help you with VAT registration service by gathering all the required documents and submitting it to the concerned department through FTA registered portal for VAT.
Mandatory Basis Registration
The person residing in UAE or in an VAT implementing State is obligated to register under the Decree Law only in the following situations. Where the total value of all supplies exceeds the mandatory registration threshold over the previous12-month period. Where it is anticipated that the total value of all supplies will exceed the mandatory registration threshold in the next thirty (30) days. The mandatory registration threshold is specified as AED 375,000. A Person required to obtain registration by virtue of the above mentioned provisions should file the application within 30 days of being required to register.
Voluntary Basis Registration
A person may apply for voluntary VAT registration in the following circumstances. The total value of supplies or expenses subject to tax and incurred during previous 12 month period exceeds the voluntary registration threshold of AED 187,500 at the end of a given month. At any time, the anticipated value of the supplies or the expenses, subject to tax, is expected to exceed the voluntary registration threshold during the coming 30-day period.
