VAT in UAE: Firms can register, file returns online

Businesses who will be collecting value-added tax (VAT) can register online and subsequently file returns on a regular basis using the government’s e-services, according to the latest advisory.

The UAE Ministry of Finance has updated its website to advise companies that VAT registration will open to qualified companies three months before the roll-out, which is initially slated in January 1, 2018.

“Businesses will be able to register online using eServices,” the ministry said on its website.

According to KPMG, the latest advisory is a clear indication that the UAE government remains on track to launch VAT less than a year from now. “Based on our international experience with the VAT implementation in Malaysia, the time for businesses to prepare is tight. While some of you will have started preliminary preparations, having established a budget and project teams, action needs to be stepped up,” KPMG advised businesses.

Companies, however, will need to meet the requirements prior to signing up. Registered businesses will then be required to submit quarterly VAT returns online. “It is expected that the default period for filing VAT returns will be three months for the majority of businesses,” the ministry said.

Businesses who will be collecting value-added tax (VAT) can register online and subsequently file returns on a regular basis using the government’s e-services, according to the latest advisory.

The UAE Ministry of Finance has updated its website to advise companies that VAT registration will open to qualified companies three months before the roll-out, which is initially slated in January 1, 2018.

“Businesses will be able to register online using eServices,” the ministry said on its website.

According to KPMG, the latest advisory is a clear indication that the UAE government remains on track to launch VAT less than a year from now. “Based on our international experience with the VAT implementation in Malaysia, the time for businesses to prepare is tight. While some of you will have started preliminary preparations, having established a budget and project teams, action needs to be stepped up,” KPMG advised businesses.

Companies, however, will need to meet the requirements prior to signing up. Registered businesses will then be required to submit quarterly VAT returns online. “It is expected that the default period for filing VAT returns will be three months for the majority of businesses,” the ministry said.

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