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10 Tips From VAT Consultants To Save Time And Money On VAT Returns

22 days ago

Tax penalties are one of the most troublesome situations for the UAE entrepreneurs. Before the tax season, often they run to visit VAT consultants dubai in order to save time and money on tax returns. Here are some effective tips from the experts so that you apply the same in your business as well.

Check the subsequent ideas for handsome saving on VAT return

  1. On-time VAT payment: UAE businessperson can avoid penalties if they pay the VAT amount within the proposed date. If you miss the due date, you are subject to pay a percentage on your unpaid amount.


  1. Pay the appropriate VAT amount: Tax slabs are different based on business varieties and yearly revenue. It is your responsibility to get registered under the apt tax-rate and pay the exact amount within the due date.


  1. Opt for online VAT payment: Paying online extends the due date by a slant. This implies that the payment-to-arrive gets extended by a few calendar days. Moreover, it is quite beneficial in terms of effort and time saving.


  1. Cautiously filling VAT return: You must carefully provide emirates wise details at the time of VAT return filling. Often businessperson fails to identify the exact criteria and there comes the question of VAT consultant.


  1. Understand the VAT return format: Introduction of VAT in UAE is quite new and thus, entrepreneurs are yet not confident about the VAT201-VAT Return filing. You can access it in the FTA e-services portal using your registered user-id and password.


  1. Know the exempt products: VAT is not applicable on every goods and services. Being a businessperson, you must have a clear idea about the VAT exempted and non-exempted products and services.


  1. Recognize the Reverse Charge Mechanism: Whether a person is taxable or not in UAE depends on multiple factors. Now, the Reverse Charge Mechanism has been recently introduced in UAE to ensure collection of VAT on supplies even if the person is not taxable in UAE.


  1. Learn about Zero-rated supplies: In UAE, certain supplies are charged at zero rates. These taxable supplies are determined under the consideration of its supply-nature. It is essential for every trader to understand this policy so that, they do not pay extra amount as tax.


  1. Take advantage of Capital Assets Scheme: In a business, Capital Assets Scheme plays a big role. Businesspersons are allowed to recover this input VAT, paid on procurement of capital assets. Based on the actual use of capital assets on a specific duration, the initially recovered input VAT is adjusted.


  1. Quickly claim VAT return: Like paying VAT on-time, it is equally essential to quickly claim back your VAT returns. This habit, in turn, helps to ease your cash flow. Moreover, claiming the amount on apt hours also prevents you from forgetting it.

You must have a clear concept on all the above criteria if you are a businessperson in UAE. Otherwise, you may be at the loss end by the end of the tax season. Another great alternative is to opt for a consultant. Paying extra amount for advisors is much better than losing money as tax penalties.


Paying excess amount as tax is not at all a good dream. Being a businessperson, you must comprehend the effective tips as suggested by the VAT consultants UAE.

Author Bio

Dr. Harry Jonson, PhD in Finance, from reputed UAE University, is one of the most notable VAT consultants in UAE. He has been associated with for more than 3 years now.