An excerpt of Public Clarification VATP026, which replaces Public Clarification VATP021, is provided below.
What is the problem with sole establishments' VAT registration?
In the UAE, either a natural person or a legal entity may possess multiple sole businesses. There has been debate about whether all sole enterprises should be covered by a single VAT registration Dubai or whether each one must get a separate registration.
Therefore, this Public Clarification explains a person's requirements for registering for VAT with regard to its sole enterprises.
Summary of the public explanation on Sole Establishment VAT Registration:
A single VAT registration is needed for all of a person's sole establishments, even though they may own multiple such establishments. Additionally, it is not permitted to register each corporation under VAT individually for each single business.
In some circumstances, the Federal Tax Authority (the "FTA") will verify the VAT registrations made by taxable people with respect to single establishments and will notify them of any necessary corrective actions.
Obligations of Sole Establishments regarding VAT registration:
A person may be the owner of several sole businesses that operate in several business sectors.
Only one VAT registration Dubai (TRN number) may be obtained by any individual, and this registration must include all of the individual's sole establishment licences.
In these situations, the sole establishment owner should be listed on the VAT registration. However, if a person has more than one sole establishment and wants to register under the name of the establishment rather than the person, they can submit the appropriate application to the FTA.
It is significant to remember that in determining a person's VAT registration responsibilities, both his single enterprises and his taxable supplies must be taken into account.
The team at Spectrum Auditing is qualified to provide advice and handle your VAT needs (VAT). Serving the clients is what we are most passionate about, and maintaining client happiness is our top priority. We are qualified auditors with the UAE Ministry of Economy and registered tax agents with the Federal Tax Agency in Dubai. We offer specialised audit, accounting, and tax services as well as financial and business advisory services that adhere to regulatory standards.
Pay VAT on timeEnsure the payment of VAT is done on time.
FTA might charge a heavy amount of penalty and this will also increase the chances of legal actions.
It is always a better choice to hire an accountant in Dubai who can manage the VAT properly.Charge the appropriate VAT amountMultiple types of taxes are available.
There have been numerous cases where people have made the payments for different profit margins.
In such cases, if you pay more money there is hardly any chance to get the money back.
Accountants in Dubai can help to ensure the payment is made for the right tax slab.Don't make unnecessary claimsDon’t make any unnecessary claims for the taxes.
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