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VAT Return Filing
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VAT Return
A VAT return is an official document completed by the taxable person and submitted to the Federal Tax Authority (“FTA”) on a regular basis, with details of unpaid and recoverable VAT, and more. Contains the necessary information for. Will be provided. In this guide, this is referred to as a “VAT Return”. All VAT returns must be submitted online using the FTA portal. The tax return can be filed by the taxable person or another person who has the right to file on behalf of the taxable person (for example, a tax agent or legal representative).
Taxation period
The taxable period is the specific period during which the tax payment is calculated and paid. · The standard taxable period applicable to taxable persons must be a period of three calendar months ending on the date determined by the FTA. The FTA may, at its discretion, assign different tax periods other than the standard period to specific taxable groups (for example, companies may need to file VAT in Dubai each month). · If the taxable person is assigned a standard taxable period, the taxable person may request that the taxable period end in the requested month and the FTA may accept such request at its discretion. I will. Check here for the date of filing your VAT return in the United Arab Emirates. The VAT return must be received by the FTA within 28 days of the end of the taxable period or by any other date as directed by the FTA. If the payment is by FTA, it must be received by the FTA by the same deadline. Understand tax obligations
Below are some important terms regarding the operation of VAT and how they affect the tax liability of taxable persons
Input Tax
Output Tax
Input Tax
From the beneficiary’s point of view, “temporary sales tax” is the VAT added to the price by the supplier when the beneficiary purchases goods or services subject to VAT. If the beneficiary is registered with the VAT, you may be able to collect this VAT from the FTA subject to the following conditions: · The taxable person has received and holds an invoice or other document certifying the amount of VAT supplied. Import; and · All or part of the VAT amount has been paid or will be paid (in this case, the amount of recoverable sales tax shall be limited to an equivalent amount). Once it is confirmed that the VAT can be collected, the amount can be included in the relevant VAT return as a VAT deduction.
Output Tax
” Output Tax ” is a VAT that the taxable person calculates and charges for the supply of goods and services when registered with VAT. Suspended sales tax usually needs to be calculated for supplies to others. However, in certain circumstances, you may need to charge VAT for supplies that are deemed to have originated for VAT purposes or are subject to reverse billing clauses. The obligation to record the temporary sales tax arises at the point of taxation of supply, that is, the date of supply. When the supply date arrives, the taxable person will be required to include VAT on the VAT return covering the taxable period.
Calculation of tax obligations
The registrant’s tax obligation is the difference between the temporary sales tax paid during a specific tax period and the temporary sales tax that can be collected during the same tax period. If the sales tax exceeds the sales tax, you will need to pay the difference to the FTA. If the amount of VAT exceeds the amount of VAT, the taxable person is entitled to a VAT refund from the FTA.
Submission of VAT return
For each taxable period, the taxable person is required to submit a VAT return containing details about the supply prepared or received by the taxable person. With respect to sales and other outputs, taxable persons must report
- If you are a retailer and offer tax refunds to UAE tourists under the official tourist refund system, the tax refunds provided to tourists under the tax refund system for tourists.
- Supply of goods and services subject to zero VAT rate.
- If applicable, adjustments to goods imported into the UAE and declared through UAE Customs.
- Supply of goods and services received by the taxable person subject to the reverse billing provisions.
- Supply of goods and services subject to the standard VAT rate for each emirate
- VAT exempted supplies
- Supply of goods and services subject to zero VAT rate
For purchases and other inputs, taxable persons must report
- Purchases and costs that are subject to the standard VAT rate and you want to collect VAT.
- I want to collect temporary consumption tax. Supplies that are subject to reverse billing. The amount of VAT that the taxable person can claim and collect the temporary sales tax must be offset in the final tax return. The resulting amount is the net VAT paid to or refunded by the FTA (that is, the net VAT position).