How to File VAT Return in UAE - Form VAT 201

Under the VAT in UAE, after launching the vat that all business in UAE is required to fill the VAT return.VAT return is the formal document of a taxpayer for a particular tax period.The first VAT Return date is 28th Feb 2018, which is applicable only those businesses for whom the monthly VAT return is applicable.

The VAT returns have to fill the specific time period it monthly or quarterly based on certain rules like type and size of the business. Now at the time in UAE have each eligible individual and business in Dubai has been required to register on the FTA portal and fill file tax returns.

The FTA portal allows acceptable only the VAT returns through online mode. The  FTA portal is currently is not available in offline capabilities to file VAT return through XML, EXCEL or any other utility.

 VAT Return form in UAE  is named as 'VAT 201' which the taxpayer needs to fill and submit in order to complete the VAT Return filing. there are some easy steps:

1. Details for Taxable Person
2. The VAT Return Period
3. VAT on sales and all other outputs
4. VAT on expenses and all other inputs
5. Net Due VAT
6. Additional reporting requirements
7. Declaration and Authorized Signatory

The process of Filing VAT Return - VAT Return Form 201:

 VAT Return Form 201, Taxable login FTA e-Services portal using your registered username and password.Select the ' VAT '--> VAT 201- VAT Return --> click on 'VAT 201-New VAT Return' to initiate the VAT return filing process.

clicking 'VAT 201- New VAT Return'  after VAT return form will open then the step by step process involved in filing the VAT Tax return.

1. Details for Taxable Person

 This section, details the "TRN" or "Tax Registration Number" of the taxpayer, as well as their name and address, will be captured.

In case of a tax, agent submitting the VAT return filling the details of  TAAN (Tax Agent Approval Number) and the associated TAN (Tax Agency Number) along with the  Agency name and with an agent name the VAT Return.

2.The VAT Return Period

The tax year end is important for businesses who are not able to recover all of their input VAT and need to perform an input.

VAT return reference number indicates the VAT return period which you will be completed within that tax year.The Businesses have not need to worry, because this is applicable after 1st year of VAT return i.e. from 1st January 2019 onwards.

3.VAT on sales and all other outputs

In this section, the user needs to furnish the details of standard rate level, zero rate supplies, exempt supplies, supplies subject taxable supplies at the Emirates.

4.VAT on Expenses and All other Inputs

In the other section, you need to present the details of purchases or expenses on which you have paid VAT at a standard rate of 5%.

5. Net VAT Due  

In this section, indicates your VAT payable for the VAT return period. The box number 12: Total Value of due tax for the period indicates the total value of output tax.

It calculated has been based on the information declared in Sales and all other outputs. This will be the sum of the all Output VAT and Adjustments columns in the Sales.box number 13:  This calculated based on the details equipped with VAT expenses and all other inputs section.

The total value of recoverable tax for the period indicates total value of Input Tax for recoverable for the Tax Period.The box number 14 indicates the payable tax for the period. This will be the difference between the total tax due for the period.

6. Additional Reporting Requirement

Its applicable only for businesses who have used and applied the provisions of the Profit Margin Scheme during this period. Else, you can tick 'No' and proceed to the next section.

7. Declaration and Authorized Signatory

This section provides the authorized signatory details and ticks the box next to the declaration section to submit the VAT Return.

Before clicking the submit button, the taxable person has to take care in verifying all the details filled by you and only when he or she is certain that all the information is correct after that click the submit button.

VAT Return successful fill then the taxable person has been to receive an e-mail from FTA confirming the VAT return form.

Conclusion

The UAE in VAT returns filing very important the details required at a summary level details of Sales, Purchase/expenses, output VAT and Input VAT.

If you closely observe, in all certain section, the detailing is not just the consolidation of sales or purchases.
Tax accounting software, businesses can easily generate the accurate VAT Return with zero or minimum efforts and more importantly, avoid the hefty penalties ranging from AED 1,000 to 3,000 for non-filing or incorrect filing of VAT Returns.