VAT Return filing process includes, details of the Taxable Person will be pre-populated. Then details like VAT/Tax Period reference number, Tax year end, current VAT Return Period and VAT Return submission due date will also be generated automatically.
While doing VAT Return Filing, you should taken care of the following;
1. All amount should be in United Arab Emirates Dirhams (AED) and rounded off to the nearest fills.
2. All mandatory fields should be completed.
3. Use “0” if there are no amounts to be declared.
The VAT Return Filing demands all registrant to provide emirates wise details of taxable supplies, the details to be summarized under Taxable Supplies includes;
1. Supply of goods and services.
2. Sale of commercial Property.
3. Advances received.
4. Deposits received other than those which are refundable.
5. Goods sold under Profit Margin Scheme.
6. Supplies of Goods within Designated Zone which are consumed within Designated Zone
7. Supplies made by a non-resident who had to register in UAE since the recipient of goods or services is not registered in UAE.
8. Credit notes issued.
9. Errors noted for the Previous Tax periods can be deducted provided the error does not result in the Output Tax being increased/decreased by an amount more than AED 10,000/.
The details of additional information relating to supply in the VAT Return Filing are the Zero-rated supplies and exempted supplies, standard rated expenses includes;
1. Goods or services purchased.
2. Goods or services purchased before Tax Registration for which input Tax can be claimed.
3. Credit notes raised by the supplier.
4. Errors noted for the Previous Tax periods can be deducted provided the error does not result in the Output Tax being increased/decreased by an amount more than AED 10,000/.
SME Business Management Consultancy professionals provides the best VAT Return Filing Services in the UAE by visiting your office on a periodical basis to compile for your VAT Return Filing and give complete assistance for guidance and support of VAT Return under UAE VAT law.