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UAE firms must submit VAT statement every quarter
The threshold for VAT registration has been put at Dh375,000.
abu dhabi - UAE businesses will be able to start VAT registration in Q3 2017
The companies concerned can file their declaration statements electronically after responding to all the questions raised on the Ministry's website, with the threshold for VAT registration put at Dh375,000.
It is optional to register between Dh187,500 and Dh375,000 and UAE businesses will be able to start VAT registration in Q3 2017. It is compulsory to be registered by Q4 2017.
The UAE businesses subject to the tax have to keep all files that allow authorities to audit their transactions and commercial activities, with the nature of the needed documents to be announced over the coming period, said the ministry. - Wam
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