I’m looking after my family business, am I liable for VAT?

I’m looking after my family business, am I liable for VAT?

Yes, if the taxable supplies have exceeded the Dh375,000 000 mandatory registration threshold over the last 12 months or are anticipated to do so in the upcoming 30 days.

If your family 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. 

Yes, A business must register for VAT if the taxable supplies and imports exceed the mandatory registration threshold of AED 375,000. Furthermore, a business may choose to register for VAT voluntarily where the total value of its taxable supplies and imports (or taxable expenses) is in excess of the voluntary registration threshold of AED 187,500.

Yes, if the taxable supplies exceed the mandatory registration threshold of Dh375,000 000 over the previous 12 months, or are expected to exceed the threshold in the next 30 days.

you should  register for VAT if their annual turnover reaches 375,000 AED or 187,500 AED.