Dubai: The Federal Tax Authority said VAT registered businesses must file and pay monthly and quarterly taxes for the period to March 31 by the April 29 deadline.
FTA Director General Khalid Ali Al Bustani said businesses should pay their taxes ahead of time to allow for any delay in electronic transfers and avoid fines.
“Tax returns and payments may be submitted 24 hours a day on the website,” Al Bustani said. “Taxable persons can visit the website, select the eServices portal, click on the “VAT” tab to access and fill the tax returns form. Users can then submit the tax return and proceed to paying the tax under the ‘Payment’ tab.
“Taxable persons may, at any time, request assistance from one of the FTA-accredited tax agents whose names are listed on the website.”
The FTA said that although tax returns must be submitted electronically, accounting records and documents relating to business activities must be kept, including the balance sheet, profit and loss account, payroll records, wages, fixed assets, records, and inventory statements.
In addition to the payable (or repayable) tax for the period, returns must also detail the value of both standard-rated and zero-rated supplies made during the period, the value of exempted and reverse-charged supplies, and the value of any expenses incurred.
