ABU DHABI
All UAE businesses subject to the value-added tax (VAT) have to submit their tax declaration statements on a quarterly basis after the VAT law goes into effect starting January 2018, according the Ministry of Finance.
The companies concerned can file their declaration statements electronically after responding to all the questions raised on the Ministry’s website, with the threshold for VAT registration put at Dh375,000 as per the ministry’s announcement this week. It is optional to register between Dh187,500 and Dh375,000, and UAE businesses will be able to start VAT registration in the third quarter of 2017 and it is compulsory to be registered by fourth quarter of 2017.
