The value added tax is an indirect tax on consumption and the value-added tax is calculated at a rate of 5%. The tax is imposed on most types of goods and services that are supplied at each stage of the supply chain. The ultimate consumer bears the cost of this tax. Where companies registered in the tax calculate the value of the tax and submit it to the competent authorities in the government. Value added tax (VAT) was implemented in the United Arab Emirates in 2018 on January 1.
What is a VAT return?
The tax return is the official document that the establishments subject to value added tax (VAT) must fill out and submit to the Federal Tax Authority for each tax period, as determined by the Tax Authority.
The return shows which output tax is due, which input tax is recoverable, as well as any other details indicated on the application.
At the International Center for Consulting and Auditing, we provide tax advice and tax
compliance services to our clients. Our tax advisors are experts in tax law, planning
and tax compliance. We help our clients to register in taxes and cancellation. T
he International Center for Consulting and Auditing helps to file objections in
the event of any dispute on value added tax (VAT).