Are small businessmen entitled for VAT registration?
Are small businessmen entitled for VAT registration?
Alex T Sunny
Your business must perform VAT registration in the UAE if its total value of taxable supplies and imports have exceeded the mandatory registration threshold of AED 375,000 .
Jerin P Thomas
Nandana Nithiyanandan
Josna Thomas
If the turnover of the company for the year is more than 375000 it has be registered for VAT
Nandana Nithiyanandan
Roshna
If the turnover of the entity for the year is more than 375000 it has be registered for VAT
Jenifer. Lovely
In the UAE, small businesses may or may not be required to register for VAT (Value Added Tax) depending on their annual sales turnover. If a small business's annual sales exceed a certain threshold set by the government, typically around AED 375,000, they are required to register for VAT. However, if their sales are below this threshold, they are not obligated to register for VAT. It's important to check with the UAE's tax authorities or a tax professional for the most up-to-date and specific guidance based on your business's situation.
Jayadev Menon
If the business has more than AED 375000 turnover it has to get GST registration
Bryce Dsouza
If a small business is based in the UAE and its taxable supplies and imports exceed AED 375,000 per annum, it is mandatory for the business to register for VAT in the UAE. Once registered, the business will be required to collect VAT on behalf of the government and file VAT returns. If the business' supplies and imports exceed AED 187,500 per annum, VAT registration is optional.
Sam Alex
VAT registration for a company is optional or voluntary if the taxable income is less than AED 375,000 in UAE, For further Information Suggest to contact a Tax consultant