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Starting from 1st January, 2018, businesses in UAE are required to be VAT Compliant. One of the requirements to be VAT compliant is filing of VAT return. Most of the businesses in UAE are required to file quarterly returns and few types of businesses may be requested to file returns on a monthly basis.
To help you understand the VAT return topic easily, the following short and crisp FAQ's are created, which will answer most of your questions on VAT return.
A. Yes, it is mandatory for all the registered businesses to submit the VAT return.
A. VAT return in UAE should be filed online. A registered business is required to prepare the VAT return file in the prescribed format and file it online in the FTA website.
A. All the VAT returns will be accepted only in online mode.
A. The standard VAT return filing period is on a quarterly basis. Only few businesses are expected to file VAT return on a monthly basis.
A. The last date to file VAT return is 28th of the subsequent month following the end of the tax period.
A. Yes, the authority has prescribed the VAT Return Format in which the details of supplies need to be furnished by the registered person.
A. Currently, the details in VAT return form needs to be manually furnished by logging to FTA site
A. Broadly, the details of all your supplies â€“ both purchases and sales, output tax, input tax, input tax recovered, and tax due needs to be furnished in VAT Return form.
A. Yes, emirate-wise supplies need to be declared in the VAT return form.
A. The VAT return form is designed to show both taxable supplies liable for standard rate of VAT at 5% and zero-rated supplies separately. In your case, you need to declare standard rated VAT supplies and zero-rated supplies separately.
A. The VAT return form contains a separate field for import of goods, in which you need to furnish the details.
A. In the above case, it will result in VAT refundable which can be carried forward to the next VAT return period or claim refund.
A. Yes, you are allowed to generate the VAT return file from any software which is certified by FTA. Only those return files which are generated from certified software will be allowed .
A. Failure to submit VAT return may lead to tax assessment and you may be liable to pay administrative penalties.
A. The administrative penalty will not be less than 500 Dirhams but not exceeding three times the amount of tax in respect of which the administrative penalty was levied.