VAT Return filing in Dubai, UAE
A brief insight into Value Added tax
VAT return filing in Dubai is mandatory for all business operating in the country. Value Added Tax or simply VAT is actually consumption tax imposed on a product or commodity. Here value is added at different stages of the supply chain. The value is added from the manufacturing stage to the point of purchase. At present, 180 world nations employ the indirect tax named Value Added Tax. The end-customer has to pay the tax amount when it comes to Value added tax.
Value Added tax was launched in the Emirates in 2018. A 5% vat rate is followed in the UAE. VAT serves as a source of revenue generation for the UAE government. The government utilizes this revenue to improve various services that it offers to the UAE residents. One of the major aspects that differentiate the VAT from Income tax is that VAT is fully based on consumer consumption. The consumer has to pay VAT irrespective of his/her income. UAE laws make it mandatory for a taxable person or a business to file VAT returns as recommended by the Federal Tax Authority. Kiltons offer trouble-free, fully compliant VAT return filing services in Dubai and other Emirates. Feel free to contact Kiltons VAT and Accounting professionals for the best deals. Now!!Contact Us