AccruonConsultants

VAT Refund Services in UAE

VAT Refund Services in UAE

Input VAT is a tax on products (goods and services) purchased by a business or taxable individual in the UAE. Output VAT, on the other hand, is a tax levied on goods sold in the UAE by a company or a taxable person. In the UAE, you may be eligible for an FTA VAT refund if your firm pays more tax than it earns from customers.

The taxpayer has two alternatives when it comes to dealing with excess input VAT, commonly known as VAT return:

  • If the taxpayer qualifies, he or she will be eligible for a VAT refund

  • If he does not request a refund of the excess input VAT, the unpaid tax and/or penalties will be carried forward to future tax periods, or he can request a refund at any time. Following the submission of the VAT Return, you must complete the 'Form VAT311' VAT refund application.

How can I seek a VAT refund from the UAE's Free Trade Zone?

  • Log on to the FTA's e-Services portal.

  • To access the form, go to the VAT tab, then the VAT Refunds tab, and then click the VAT refund request.

  • Complete the form to the best of your ability

  • Information from your account is pre-filled in some forms. After you've double-checked that the information you've provided is correct, click 'Submit' to send the form

  • The FTA will send you an email with the findings of your reimbursement application when you submit the form

  • After the claim has been approved, the refund will be processed within 5 business days

  • To validate the refund amount, go to the My Payment page in the Transaction History part of the e-Services site and check your balance

Our dependable team can conduct a UAE VAT voluntary disclosure in a number of different methods. The usual method for making a VAT voluntary disclosure in the UAE is as follows:

  • Notification to the Federal Tax Authority of our intention to make a voluntary disclosure via our agents

  • Obtaining a registration number and certification from the Federal Transit Administration (FTA)

  • Informing the FTA of the problems or what went wrong

  • Explaining why errors or omissions occurred

  • Calculation of owed taxes, fines, and interest

  • The disclosure is reviewed or processed by the FTA

  • The taxpayer and the FTA must reach a complete and legal agreement

Time constraints for voluntary VAT disclosure in the UAE

  • If an error caused the taxpayer's payable tax to be less than what was needed by more than AED 10,000, the taxable person must make a voluntary disclosure of error within twenty working days of discovering the error

  • Also, if an error resulted in the taxpayer's payable tax being AED 10,000 or less, the error must be repaired in the tax period's tax return if the error was discovered before the tax return's due date. If there is no tax return on which the error can be remedied, there is a twenty-day window for reporting the problem from the time it is discovered

Why should you go with Accroun Consultancy?

  • Examining and submitting supporting documents:

    The FTA also requires a letter that includes background information and full descriptions of all problems discovered. The letter must explain why the VAT voluntary disclosure was made, as well as the inaccuracies that were discovered. This letter, which our staff also examined and sent, will be used to help the tax authority acknowledge the request.

  • Determining the amount of tax to be paid:

    Apart from determining the tax owed, our VAT experts in the UAE can assist you with reporting any wrong amounts. That, as well as the accurate values, were given to the FTA. Both statistics must be given to the local tax office in order to alert them to any inconsistencies.

  • Penalties are settled:

    Our professionals will handle payments as well, so you won't have to bother with the FTA (if necessary). Keep in mind that a VAT voluntary disclosure may result in fines if an error is made. This is insignificant in comparison to the fines that would be imposed on taxpayers if the FTA discovered the errors on its own, as previously stated. We can also review your penalty settlement options with you and assist you.

Still Confused About Our Features? Get A Consultation

We will assign a dedicated and qualified team to your entity, who will assist you in ensuring statutory compliance and providing necessary management reports.

×