Value Added Tax (VAT) is a tax on the consumption of goods and services in Dubai. It is charged at a rate of 5% on most goods and services, with some exemptions and zero-rated supplies. Any business with an annual turnover of AED 375,000 or more must register for VAT in Dubai. This article will discuss the documents required for Dubai VAT registration.
Trade License
The first and foremost document required for VAT registration in Dubai is the company’s trade licence. This document is issued by the Department of Economic Development (DED) and is necessary to prove that the business is registered in Dubai and has the legal right to conduct business activities.
Emirates ID Card
The Emirates ID card is a mandatory document for all residents of the UAE. It is required for identification purposes and is used as a primary form of identification in various government transactions. The Emirates ID card of the business owner or authorised signatory is required for VAT registration.
Passport Copy
In addition to the Emirates ID card, a copy of the passport of the business owner or authorised signatory is also required for UAE VAT Registration. The passport copy is used to verify the identity of the person registering the business for VAT.
Memorandum of Association (MOA)
The Memorandum of Association (MOA) is a legal document that outlines the business’s objectives, scope, and operations. It is required for VAT registration in Dubai to prove that the company is registered with the DED and is operating within the legal framework.
Articles of Association (AOA)
The Articles of Association (AOA) is another legal document required for VAT registration in Dubai. It contains the rules and regulations governing the business’s internal operations, including the roles and responsibilities of the directors, shareholders, and other key personnel.
Bank Account Details
As part of the VAT registration process, the business must provide its bank account details, including the account number and IBAN. This information is used for the payment and refund of VAT, and it is essential to ensure that the bank account is registered in the same name as the business.
Financial Statements
Financial statements are required to determine the turnover and tax liability of the business. The financial statements should include the income statement, balance sheet, and cash flow statement for the last 12 months. The financial projections for the next 12 months should be provided if the company is a new startup.
VAT Registration Application Form
The VAT registration application form is the final document required for VAT registration in Dubai. It is a standard form provided by the Federal Tax Authority (FTA), and it should be completed and submitted online through the FTA portal.
Conclusion
In summary, the documents required for VAT registration in Dubai include the trade licence, Emirates ID card, passport copy, MOA, AOA, bank account details, financial statements, and VAT registration application form. Ensuring that all the documents are complete and accurate is essential to avoid delays or penalties. Once the registration process is entire, the business can start charging VAT and reclaiming input tax on eligible purchases.
Author: Raees Mubasher
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