FTA says registration for VAT continues
Businesses must register to avoid fines and legal proceedings
UAE's Federal Tax Authority (FTA) has urged the business sector to complete the registration requirements for VAT, to avoid fines and legal proceedings.
The FTA confirmed that the registration process is continuing and stressed the importance of obtaining a tax registration number (TRN).
This includes anyone doing business in the UAE with taxable supplies and imports of goods and services that exceed AED375,000.
Businesses that fall below the minimum threshold must still validate their entitlement to request for an exception from VAT registration. This means that all their supplies must be zero rated; if not, the application will be sent back to registrant for amendments, which might delay the process of receiving a TRN.
Taxable supplies are all goods and services, imported or otherwise, aside from the essential services that are exempt from the tax, as well as imports of goods and services.
More information can be found in the Legislation and Guides sections, on the FTA website. Businesses are required to visit the official website, select the e-Services portal, sign up and create an account.
Source: Arabian Business