VAT Submission & Refund from FTA

Get the VAT ready for Vat Return/Vat submission.

What is a Tax return?

A Value-Added Tax (VAT) return is an official document that you must submit to the Federal Tax Authority (FTA) in the UAE at the end of each tax period. It provides a comprehensive summary of all your business transactions related to taxable goods and services during that period.

Depending on the specifics of your business and the nature of your transactions, you might also need to provide additional information. This can include the total value and the VAT on exempt supplies, reverse-charged supplies, supplies subject to the profit margin scheme, and any adjustments to previously reported supplies.

Keep in mind that maintaining accurate and complete financial records is crucial for the correct preparation of your VAT return. Depending on the size and complexity of your business, you may want to consider consulting with our tax professional to assist with this task.

VAT REFUND

If a VAT-registered business incurs more input tax (VAT paid on business expenses) than the output tax (VAT collected from customers) in a given tax period, it can claim a VAT refund.

Not all businesses are eligible for VAT refunds. If you’re eligible for a refund, Ally Accounting & Auditing will help you for vat refund.

Submitting VAT returns and requesting VAT refunds are important aspects of managing VAT obligations for businesses.