STANDARD KEYS

Is your business prepared for VAT?

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All businesses in the UAE with annual revenue of Dh 375,000 or more are required to submit their VAT registration online applications to avoid penalties as per the FTA’s regulations.

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Types of VAT Registration

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Mandatory Registration - Any business is required to register if it meets the following criteria:

• If the taxable supplies over the 12-month period go beyond the mandatory registration threshold, or

• If the business expects to make taxable supplies in the next 30 days that will have a value that is more than the mandatory registration threshold, or

• The amount of mandatory registration threshold is AED 375,000.

 

Voluntary Registration - Any business that doesn’t meet the mandatory registration criteria and falls into the following classifications:

• If the taxable supplies or expenditures for the last 12-month period go beyond the voluntary registration threshold, or

• If the business expects the taxable supplies or expenditure for the next 30 days to be over the voluntary registration threshold, or

• The amount for the voluntary registration threshold is AED 187,500.

 

Standard Keys will help you with the VAT registration, review your compliance with the UAE VAT law and help you prepare and submit regular statutory reports.