In Ajman Free Zone, Ajman’s industrial scenario, the inclusion of VAT is going to make a paradigm change that is expected to affect the businesses of all sizes. For businesses with annual turnover of more than AED 375,000, it is mandatory to register under UAE VAT before the end of the year 2017.
If the Annual Turnover is between AED 187,500 & AED 375,000 it is optional for the company to be registered under UAE VAT law. Moreover, if it is below AED 187,500 the company need not register under this law.
At United VAT, we provide businesses all-inclusive assistance in regard to VAT compliance in Ajman Free Zone, Ajman. From VAT registration in Ajman Free Zone, Ajman to filing timely VAT returns our certified VAT professionals leave no stone unturned to keep your business updated with the applicable tax regime in Ajman Free Zone, Ajman.
Whether you’re a startup or an established business enterprise, it is equally necessary to meet the VAT compliance in Ajman Free Zone, Ajman. Companies and individuals submitting late, incomplete or incorrect filings under the final value-added tax (VAT) regulations tend to face penalties and other hefty fines, according to legal experts.
There are very strict provisions for non-compliance including prison terms and hefty fines especially for deliberate tax avoidance, incomplete and incorrect filings by any taxable person which must be avoided at all costs.
The new law is meant to streamline the way of doing business in the region with companies required to follow stricter accounting policies and proper due diligences, however the move will further strengthen the UAE's position in the world economy. Considering this, UnitedVAT provides much-needed help to businesses in filing VAT returns while meeting VAT compliance in Ajman Free Zone, Ajman.
Call UnitedVAT today to know more about VAT implication on your business.
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If the Annual Turnover of the company is more than AED 375,000/, it is mandatory for the company to register under UAE VAT before the end of the year 2017. Further, if the Annual Turnover is between AED 187,500 & AED 375,000/, it is optional for the company to be registered under UAE VAT law. In addition to this, if it is less than AED 187,500/, the company need not register under this law.
As per the official site of Ministry of Finance, UAE, the majority of the business entities will be required to file the VAT returns on the quarterly basis, within one month/28 days from the end of the respective quarter.
Yes, UAE VAT will be applicable to both goods and service sector.
The proposed rate of VAT in the UAE will be up to 5%.
The registered entities who are eligible to get VAT refund (When input VAT is more than output VAT) can submit the VAT returns to the authority by disclosing the same.
Every taxpayer can file the VAT returns through the online portal of the VAT. Every taxable person shall prepare and submit the tax return for each tax period to the authority and need to settle the payable tax within the timeframe specified in the tax law.
