VAT Refund Services UAE
While
submitting a VAT return in UAE, if your input VAT is greater than the output
VAT then you are eligible to request an FTA VAT refund. GoTrack Auditing is
offering guaranteed VAT refund services UAE.
Input VAT is
a tax payable for items (goods and services) purchased by a business or taxable
person in UAE. On the other hand, output VAT is collected tax on items sold by
a business or taxable person in UAE. If your business is paying more tax as
compared to the tax your business is collecting from the clients, then you are
eligible to claim an FTA VAT refund in UAE.
VAT Refund in UAE
The taxpayer
has the following two options in treating the excess input VAT commonly known
as VAT refund:
·
The taxpayer will be eligible to request a VAT refund
·
If he does not wish to request a refund of the excess
input VAT, the excess recoverable tax will be carried forward to subsequent tax
periods and can be used to offset against the payable tax and/or penalties, or
he can apply for a refund later at any point in time.
After the VAT
Return is submitted, you are required to complete the VAT refund application
‘Form VAT311’.
How to claim FTA VAT
refund UAE?
To submit a
refund claim:
·
Log in to the FTA’s e-Services portal.
·
Go to the VAT tab, then the VAT Refunds tab, and access
the form by clicking the VAT refund request.
·
Complete the form. Some of the fields are pre-populated
using the details from your account. Make sure that the details you’ve entered
are correct, then submit the form by clicking ’Submit’.
·
After you submit the form, you will receive an email from
the FTA to notify you of the result of your refund application. Once the claim
is approved, the refund will be processed within 5 business days.
·
You can verify the refund amount by checking your balance
from the My Payment tab under the Transaction History section in the e-Services
portal.
VAT Refund Services UAE
GoTrack Tax Consultancy is providing the best VAT refund services UAE. Our tax experts will
assist you to get the VAT refund amount from FTA. As GoTrack, as in all service
lines that we perform, also in VAT Refund Services in UAE, our experts have
deep knowledge and experience.
GoTrack offers VAT refund services to help our clients with their VAT refund applications. It is composed of well-experienced tax advisors and experts who keep a close watch on the procedures envisaged and the attitude adopted by the tax authorities.
