VAT Registration in Dubai is a legal requirement for all companies doing business in the emirate. With a wide experience in business formation in Dubai, specialized local consultants are able to assist foreign investors who establish businesses here to register for the Vat Registration in Dubai on an advantageous voluntary basis. If you too want to set up an online business in Dubai but do not know about the norms regarding VAT and its collection in the emirate, you can seek the assistance of these experienced professionals.
An income statement is mandatory for all companies which have an office in Dubai. This document also indicates the turnover in terms of dollars in the last 12 months. You need to submit your annual return along with the income statement for VAT registration in Dubai. The amount of tax that you pay to the government is computed by taking the total income obtained using the tables provided by the Revenue Department of the emirate. Your company’s name is then entered after you furnish all the necessary information requested by the Revenue Department.
Many entrepreneurs from countries such as the USA, UK, and Australia who want to establish an online eCommerce store in Dubai can enjoy vat registration in Dubai because of the favorable environment for doing business in the country. There is no obstacle to using currencies other than the Dubai currency so long as the company registers for it. Since most goods imported or exported by Dubai Company Formation for exporting products require payment of customs duty, most of the businessmen register the goods sold using the foreign currency. However, they may have to pay extra tax if the value of the goods purchased exceeds the taxation level. For instance, the value of goods that are registered in the zloty may be considerably higher than the duty rate permitted for such purchases in Dubai.
Another advantage of registering foreign investors in Dubai is the presence of a number of companies that offer low corporate taxes and other incentives. The companies providing such rebates attract both expatriates and foreign investors and vat registration in Dubai facilitates easy transactions with these companies. Companies that operate through the Middle East or Gulf Cooperation Council usually have to pay a fixed percentage of the gross domestic product or acquire certain benefits in order to register in Dubai. For instance, the rebate on importation and distribution of petroleum products and other utilities and taxes are paid by the oil companies operating in Dubai.
Importers who obtain vat registration in Dubai by Adroitatc are required to obtain an import license from the Ministry of Foreign Affairs. This is done in order to ensure that imported goods enter the country according to the regulations permitted by the law. In the past, many UAE nationals were charged with smuggling goods into the country but these charges have been relaxed in light of the positive exchange rate between the riyal and the DEHP. However, the law does not allow the importer to change the registration status of his goods once transported into the country. Importers can register their goods either for light duty-free or heavy duty-free on the same day they receive the imported good. Light duty-free merchandise requires an individual to fill in an application form which is then approved after checking all relevant documents.
