Value-added tax (VAT) plays an important role in the United Arab Emirates (UAE)’s tax structure. To be allowed to function flawlessly, companies based in Dubai need to adapt to the set regulations concerning VAT. The facility provided under the regulation to companies includes claiming a refund for VAT; however, such claims have to be very clearly understood and properly planned. VAT & Excise Consultants Dubai makes sure all VAT is properly recovered by companies with the guidance given.
What’s the step-by-step guide to claim VAT refunds?
- VAT Refund Process: Eligibility: Some costs are payable and not necessarily claimable VAT, so all this needs to be checked to determine whether this particular expense incurs a recovery. For example, personal costs andcostst associated with exempted supply cannot be recovered.
- Maintenance of Proper Vouchers: Proper documentation is a must for a successful VAT refund claim. Businesses need to keep proper records of invoices, receipts, and tax filings.
- Submit VAT Returns: Before making a VAT refund claim, businesses need to submit their VAT returns through the FTA portal. The return should clearly indicate the input tax (VAT paid) and output tax (VAT collected).
- Access the FTA Portal: Log in to the FTA e-Services portal and locate the VAT refund section. All businesses should confirm that their registration and informatioareis updated.
- Submit VAT Refund Form: VAT refund claim form must be completed and properly filled, containing the details on the claim that is correct including the tax period, amount and all the attached supporting documents
- Submit Supporting Documents: Upload all your documents, invoices, receipts and any other required evidence that is requested by FTA to accompany the claim.
- Wait on Approval: This application will go through a screening process by the FTA. Where the application passes the screening, the money will be credited to their account within some given time limit.
How VAT & Excise Consultants in Dubai Simplify the Process?
Claiming VAT refunds can be a complex and time-consuming process, especially for businesses unfamiliar with the regulations. VAT & Excise Consultants in Dubai streamline the process, offering the following benefits:
- Expertise in VAT Laws: Consultants have in-depth knowledge of UAE’s VAT laws, ensuring businesses meet all eligibility criteria and comply with regulations.
- Accurate Documentation: They assist in organising and maintaining accurate records, minimising the risk of errors or omissions during the application process.
- Efficient Filing Process: With their experience in handling VAT refund applications, consultants expedite the process, saving businesses time and effort.
- Mitigating Risks of Rejections: By thoroughly reviewing the application and supporting documents, consultants reduce the chances of rejection due to errors or incomplete information.
- Ongoing Support: Consultants offer continuous support, helping businesses manage VAT compliance, file returns, and handle audits effectively.
Why Choose RBS Auditors as Your VAT Consultants in Dubai?
RBS Auditors is one of the most trusted VAT & Excise Consultants in Dubai, offering end-to-end solutions for VAT compliance and refund claims. With a team of experienced professionals, they ensure businesses recover their VAT efficiently and in full compliance with FTA regulations.
From assessing eligibility and preparing documentation to filing claims and following up with the FTA, RBS Auditors handle the entire process, allowing businesses to focus on their core operations. Their expertise minimises risks and ensures a seamless experience.
Conclusion
Claiming VAT refunds in Dubai is a vital aspect of efficient financial management, but it requires precision, compliance, and expertise. Partnering with professional VAT & Excise Consultants in Dubai like RBS Auditors simplifies the process, ensuring businesses recover their VAT smoothly while staying compliant with tax laws.
Let RBS Auditors handle your VAT refund claims with expertise and efficiency—so you can focus on growing your business.
