As per FTA regulation there are two types of VAT Registration:
MANDONTORY VAT REGISTRATION:
If a company’s total taxable supply and imports surpass the AED 375,000 registration level, they must register for VAT, which is mandatory.
VOLUNTARY VAT REGISTRATION:
When imports of taxable costs and the value of all taxable supplies reach the voluntary registration level of AED 187,500 in the previous 12 months, optional VAT registration becomes applicable.
We analyze financial records & help customers to register on FTA for their VAT Registration, basis on their mandatory and voluntary threshold respectively.
- Understanding of Business model
- Assessment of transaction volume
- Determining the VAT threshold (Voluntary 187,500 or Mandatory 375,000)
- VAT registration process
- Allocating a resource for Registration.
- Processing the TRN application