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The United Arab Emirates (UAE) Federal Tax Authority (FTA) has released new reporting requirements for Excise Tax in its updated Excise Tax User Guide and Excise Tax Returns User Guide. The current period Excise Tax return, due on 15 September 2019, should be complied based on the new reporting requirements and declarations.
Businesses which import, manufacture, distribute, or stockpile Carbonated Beverages, Energy Drinks , Tobacco and Tobacco Products goods should already be registered for Excise Tax and should be giving consideration to the new compliance requirements.
It is crucial that businesses registered for Excise Tax understand the new compliance obligations. Procedures should be assessed, and where necessary re-designed to support the accuracy of the required declarations and subsequent Excise Tax filings.
Reduce risk and improve your organisational performance by challenging existing assumptions and practices.
It will also highlight control weaknesses and let the business owner know if risk management processes are operating effectively thus increasing the efficiency of your business.
Use the understanding and insight gained from the audit as a basis for helping you develop strategies to drive your business forward.
Add value to your business by using the audit as a basis to identify and resolve commercial issues and to improve your business processes.
Before you proceed with online VAT registration, you have to create an e-Service account with FTA. The setting up of an online account in FTA is quite similar to setting up of other online accounts like Gmail, Yahoo etc. To create an account, you need to visit ‘https://eservices.tax.gov.ae‘ and click ‘Sign up’ option available on the right-hand corner of the screen. The following are the steps involved in creating an e-Service account.
The online VAT registration form contains 8 sections as shown below, in under which the details need to be furnished for completing VAT registration
In UAE VAT, any person conducting business is not allowed to have more than one Tax Registration Number (TRN), unless otherwise prescribed in the UAE Executive Regulation. Thus, even if you are operating via branches in more than one Emirate, only one VAT registration is required. With a similar objective, if two or more persons are related or associated parties in the businesses, they are allowed to apply for VAT group registration.