The UAE’s Federal Tax Authority (FTA) announced that online registration for Value-Added Tax (VAT) is now open through the Authority’s website ahead of the tax’s implementation from January 1, 2018.
Businesses must register for VAT if their taxable supplies and imports exceed Dh375,000 per year.
Businesses with taxable supplies and imports that are less than that mandatory minimum, but exceeds the voluntary registration limit of Dh187,500 annually, can optionally register for VAT.
FTA urged businesses with an annual turnover of over Dh150 million to register before October 31, 2017.
All businesses with an annual turnover exceeding Dh10 million should register before November 30, 2017.
The registration portal is available 24/7 to facilitate the registration procedures for all businesses from sectors that are subject to VAT.
Source: Gulf News