CareersIndustriesNews

VAT Return Filing service in Dubai

Hassle-Free VAT Return Filing Services for Your Business

At Golden Falcon Consultants, we understand how critical, accurate, and timely VAT return filing is for your business’s smooth operation. As the UAE’s tax system continues to evolve, staying compliant with VAT regulations is essential for avoiding penalties and optimizing your financial practices. Our VAT return filing service in Dubai is designed to help you navigate the complexities of VAT, ensuring your business meets all requirements without hassle.

Get in touch

What is VAT Return Filing?

VAT return filing is how businesses registered for VAT in the UAE report their VAT transactions to the Federal Tax Authority (FTA). As per the UAE VAT Law, companies must submit a VAT return periodically, summarizing their sales and purchases and the VAT they owe or are entitled to claim back. VAT return filing ensures transparency and accuracy in the tax system, which is crucial for maintaining good standing with the FTA. At Golden Falcon Consultants, we provide end-to-end VAT filing services that take the burden off your shoulders. Our team ensures that your VAT returns are accurately prepared, submitted on time, and fully compliant with the FTA regulations.

Tax Period for VAT Return Filing as per FTA

The UAE FTA mandates that VAT returns must be filed quarterly or monthly, depending on the business's annual taxable supplies. If your taxable supplies exceed AED 150 million, you must file monthly. The VAT return filing is quarterly for businesses with taxable supplies under AED 150 million. The deadlines for VAT return filing are as follows:

01
Quarterly VAT Return

The filing and payment are due by the 28th of the month following the end of the quarter.

02
Monthly VAT Return

The filing and payment must be completed by the 28th of the month following the taxable period.

Essential Factors to Consider When Filing Your VAT Return

When filing your VAT return, there are several crucial factors to keep in mind to avoid errors and ensure compliance:

Accurate Record-Keeping: Ensure all invoices and receipts are properly maintained, along with clear documentation of all transactions.
VAT on Exports and Imports: Correctly report VAT for exports and imports to avoid complications with the FTA.
Input VAT Credit: Claim VAT on business purchases only for eligible expenses. Be sure to track and file these accurately.
Zero-Rated and Exempt Supplies: Ensure that you correctly categorize your supplies, especially when dealing with exempt or zero-rated goods and services.
At Golden Falcon Consultants, we handle these technicalities with precision, ensuring all aspects of VAT return filing are managed with care.

VAT Return Filing Services in UAE Offers the Following Benefits

Penalties and Fines Associated with VAT Return Filing

Failing to comply with VAT return filing requirements in Dubai can result in significant penalties and fines. The Federal Tax Authority (FTA) imposes the following:

Late Filing: AED 1,000 for the first late filing and AED 2,000 for subsequent delays.
Incorrect Filing: Fines are levied for incorrect information or omissions in your VAT return, with penalties ranging from AED 500 to AED 5,000 depending on the severity of the mistake.
Failure to Maintain Proper Records: Businesses failing to keep accurate VAT records may face fines of up to AED 10,000.
To avoid these penalties, ensuring that your VAT return filing is accurate and timely is crucial. At Golden Falcon Consultants, we ensure that your business stays fully compliant and avoids any unnecessary financial repercussions.

How do Golden Falcon Consultants assist you with VAT Return Filing Services?

At Golden Falcon Consultants, we offer expert VAT return filing services in Dubai. Here’s how we can help:

Contact Golden Falcon Consultants today to ensure your VAT return filing is accurate, timely, and fully compliant with UAE regulations. Let us handle the details, so you can focus on growing your business!

Enquire Now