VAT registration should be assessed before the business crosses deadlines. Some companies wait until revenue becomes high and then discover that they should have registered earlier. We review taxable supplies, imports, expected revenue, expenses and business activity to determine whether registration is mandatory or voluntary.
The FTA states that a business must register for VAT if taxable supplies and imports exceed AED 375,000, while voluntary registration may be available where taxable supplies, imports or taxable expenses exceed AED 187,500. The assessment should be supported with contracts, invoices, bank statements and forecasts.
Al Kalema prepares the registration file, checks documents, supports EmaraTax submission and explains the post-registration responsibilities such as tax invoices, return filing and record-keeping.