KWS Fintech Services

VAT Return Filing

KWS Fintech Services is one of the leading independent specialist VAT firms in the UAE.

VAT Return Filing

VAT return filing in Dubai is mandatory for all taxable businesses. After applying for VAT registration, the business will get the Tax Registration Number (TRN). The standard tax period is three months (quarterly).

You will be required to file VAT returns once every three months as a minimum. However, in some cases, businesses may be required to file VAT returns monthly. VAT return filing period will be mentioned on your VAT certificate. All the businesses which are registered under VAT must complete the VAT return filing within the time frame given by the Federal Tax Authority (FTA).

Once you have registered for VAT in the UAE, you are required to file your VAT return and make related VAT payments within 28 days from the end of your tax period.

Scope of work for VAT return filing

Our VAT experts in KWS Fintech Services can assist and support you by submitting VAT return filing:

  • Our VAT expert will visit your company on a monthly or quarterly basis to gather and compile the financial information for filing the VAT Return.
  • At the end of each VAT return period, KWS Fintech Services will prepare the VAT return as per the rules and regulations of the FTA on behalf of your company.
  • KWS Fintech Services will ensure that the VAT returns are filed within the specified time in each tax period.
  • KWS Fintech Services will ensure that all the financial operations of your company are VAT compliant and must follow the VAT laws as per FTA.
  • KWS Fintech Services will review and verify the VAT related transactions to ensure that the correct VAT amount is being charged on sales as output tax and the VAT charged by the supplier is claimed correctly.
  • KWS Fintech Services will provide suggestions and opinions as per the latest VAT trends and updates to ensure compliance to avoid VAT fines from FTA.
  • A random review of the books of accounts and document maintenance to ensure VAT compliance.
  • Our VAT experts will surely be available to represent your company in case of a VAT audit from the FTA representatives. (if required)

VAT Return Filing Period

The standard VAT return filing period will be on a quarterly basis. However, the authority may request certain type of businesses to file the VAT return on monthly basis to reduce the risk of tax evasion and improve the monitoring of compliance adherence by the business.

Return Filing Period

Applicability of VAT Return

Quarterly Return

Most of the businesses in UAE will be filing the VAT Returns on a quarterly basis

Monthly Return

Only certain classes of businesses will be asked to file VAT Return on a monthly basis.

Frequently Asked Questions

A VAT return is a document that summarizes the VAT liability of a business for a specific period, typically a month or a quarter. It includes information on sales made during the period, VAT collected from customers, VAT paid on purchases, and any adjustments or refunds applicable

Businesses that are registered for VAT and meet the threshold set by the tax authorities are required to file VAT returns. The threshold can vary between countries. Small businesses or businesses below the threshold may be exempt from VAT registration and filing.

The frequency of VAT return filing depends on the regulations of the tax authority in your country. In some jurisdictions, VAT returns are filed monthly, while in others, they are filed quarterly or annually.

A VAT return typically includes the following information:

  • Total sales made during the period
  • VAT collected from customers
  • VAT paid on purchases
  • VAT on importation of goods or services
  • VAT adjustments, if applicable (e.g., bad debts, corrections, exemptions)
  • Total VAT liability or refund due

VAT liability is calculated by deducting the input VAT (VAT paid on purchases) from the output VAT (VAT collected on sales) made during the reporting period. The resulting amount represents the net VAT liability or refund due.

The deadlines for VAT return filing vary by jurisdiction. It is important to comply with the deadlines set by the tax authority to avoid penalties or late filing fees. It is recommended to check the specific deadlines applicable to your country or consult with a tax professional.