VAT registration is a requirement for businesses and individuals operating in the UAE with an annual revenue exceeding AED 375,000. The implementation of VAT in the UAE will take effect on January 1st, 2018, and companies or individuals exceeding the threshold must register for VAT by December 31st, 2017.
When preparing for VAT registration, it’s important to consider various factors such as mandatory or voluntary registration, individual or group tax registration, etc.
Documents required for VAT registration:
- Passport copy
- Emirates ID copy
- Certificate of incorporate
- Power of attorney
- Articles of association
- Description of the business activity
- Bank account details
- Turnover for the previous 12 months in AED
- Supporting document for 1-year sales
- Expected turnover in next 30 days
- Approximated value of imports for one year from each Gulf Cooperation Council nations
- Approximated value of imports for one year to each Gulf Cooperation Council nations
- Either you hope to deal with suppliers or customers
- Supporting documents for customs enlistment in every emirate if appropriate
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