Logo DarkLogo Light

Applying for a VAT (Value-Added Tax) Refund in UAE

VAT Refund in UAE

Applying for a VAT (Value-Added Tax) Refund in UAE

One of the most crucial parts of an effective tax strategy is knowing how to recover the VAT you’ve paid during the past tax year. Not only is it important to know if you have the right to apply for a VAT refund, you should be aware of the preparations involved so you can obtain it as soon as possible.

Helpful Tips

First and foremost, the tax refund file must be complete and fully prepared before you submit it to the tax office. Furthermore, all VAT refund procedures must be compiled correctly in order to receive the amount you’re claiming quickly and without any delays. The more common factors that can result in a delay include:

  • Difficult administrative procedures
  • Incorrect or insufficient documentation
  • Missing deadlines when replying to the Federal Tax Authority
  • Not understanding the indirect tax rules

Keep in mind that delayed or missed refunds and unclaimed tax credits can result in a negative cash flow and “tax leaks”, both of which can increase your costs of doing business and reduce your profitability in the process.

As a relief measure and in response to the COVID-19 (Coronavirus) pandemic, UAE businesses can expect to receive their VAT refunds earlier than usual. A number of tax professionals now believe that the Federal Tax Authority has accelerated the refund process for those businesses that have already submitted their returns.

We are here to help with Your VAT Refund

Our tax agency is registered with the Federal Tax Authority and is comprised of a team of professionals that are dedicated to providing the highest quality service and your satisfaction. We are happy to share our tax refund experience and expertise, especially when it comes to complicated, detailed, and tedious bureaucratic processes. We can assist you with:

  • Reviewing VAT returns, calculations of refundable VAT, working papers and check documentation for filing refunds.
  • Prepare documents and data templates for VAT refund applications as per laws.
  • Check for VAT non-compliance for your company.
  • Prepare and submit the VAT refund application.
  • Look over the VAT refund report on missing documents/points, respond to queries of FTA and re-submit after corrections.
  • Manage correspondence and communication with Federal Tax Authority.
  • Visit the tax office and handle the finalization of the VAT refunds.

With our extensive network of tax professionals and VAT specialists, we can easily assist you in developing and improving the processes that will enable you to reduce administrative costs and the time invested when applying for your refund. We are with you at every step of the way when it is about tax and VAT filing and refunds. To know more about the offered services which are not limited to corporate tax and VAT, please call Intuit Management Consultancy (IMC Group).

Leave A Reply

Similar Blog Posts

Make in India Boosted by PM Modi’s Rs 20 Lakh Crore Package to Tide Over COVID- 19 Pandemic

Considering the detrimental effect of the COVID-19 pandemic that has led to the lockdown for…

Kingdom of Saudi Arabia announces Increase in Value Added Tax

The Saudi Arabian Government recently announced that the VAT or Value Added Tax will be…

Manufacturing Sector to Benefit From the Recent FDI Update – 100% Foreign Ownership

As per the recent FDI law update, 100% foreign ownership is allowed in mainland companies…