All companies that have registered for VAT must submit a VAT return monthly or quarterly. After logging in to the FTA portal, you need to submit the VAT return 201 manually. The VAT refund form consists of different parts, such as sales and purchases, which are further divided into different boxes. To learn more about these sections and the detailed information provided in the VAT refund form, please read “How to submit a VAT refund form 201”.
In this article, we will provide a list of VAT refund declarations. This checklist is useful for all registered taxpayers to submit accurate VAT returns.
- Know your tax filing period and due date
- All sales and other outputs need to report “UAE wise” in box 1. For companies that have a fixed establishment in the UAE, the supply should be reported in the emirate where the fixed establishment closest to the establishment is located.
- Ensure that the value of credit notes issued during the rebate period is taken into account when deriving the net value standard rated supply and output value-added tax (Box 1)
- Only declare the advance payment value of taxable supplies in the standard rated supply (Box 1). If the money received is not used for supplies such as security deposits or for tax-free supplies, such receipts do not need to be reported in box 1.
- For commercial property sales, please ensure that the output value-added tax amount is mentioned in the adjustment column in column 1
- In box No. 3, which means to offset supplies, you only need to capture supplies that have not been declared by UAE customs, such as service imports
- Goods imported into the UAE through UAE customs need to be recorded in box 6.
- The value and output value added tax in box No. 6 will be automatically filled in based on the imported goods declared under the customs registration number, which has been linked to TRN
- If the value entered in box 6 related to goods imported into the UAE is incomplete or incorrect-like a few imported goods are excluded or does not appear to be correct, such adjustments need to be made in box 7 Reported in “Adjustment of Imported Goods”. Enter the UAE
- Ensure that the “input VAT recovery” column in column 9 does not include purchases or expenses that restrict input VAT.
- Remember to report adjustments related to bad debt relief, input VAT annual adjustments, and capital asset planning in box 9.
- Make sure that the reverse charging power source for the input VAT is reported in box 1. 3, 6, and 7 of VAT return 201
- Before submitting the VAT return, the taxpayer must verify all the details carefully. Only when he or she is sure that all the information is correct, click the “Submit” button