VAT Filing Services
Let us help you file your VAT returns on-time & accurately
201 VAT Return filing is an integral part of the entire VAT system. The return must be filed and paid within the next twenty-eight (28) days after the close of the “taxable period”. The filing and payment process is done through the FTA portal.
Seasoned on VAT compliance, INTANGIBLES experts will assist you in making sure all your VAT requirements were complied with.
VAT Return Filing Process
Businesses file VAT returns through the FTA portal e-services filing out VAT 201 form. The attributable tax due or refundable is the difference between the total output VAT and total Input VAT. The excess of the output tax is the liability that the business needs to pay within the next 28 days after the close of the current taxable period.
In cases where, the input VAT exceeds the output VAT, the business is eligible for a refund which should be filed using form 311. However, there is also an option to carry forward the refundable tax and offset in the filing of following VAT return.
Information required in filing VAT returns:
- Information of the taxable "person" filing the return
- Taxable period covered on the return
- Sales and Output VAT
- Expense & Input VAT
- Net VAT payable or refund
- Required details of input and output transactions
- Net VAT payable or refund
- Authorized signatory and declaration
VAT Fines and penalties on delayed filing and payments (reduced)
- AED 1,000 - delay in submission of VAT returns
- 2% of tax due on late payments after 20 days
- 4% of tax due, if VAT payable is still outstanding after 1 month and 4% on monthly intervals from due date
- Maximum ceiling of 300%
FAQ
Through the FTA portal, form 201 is used for VAT return filing.
Through the FTA portal, form 311 is used for VAT refund filing.
Yes, you are required to submit a “nil” VAT Return on or before the respective due date, to avoid fines and penalties.
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