VAT Tax Refunds

 

VAT Tax Refunds in UAE

When the input tax is greater than the output tax on a VAT return. the taxpayer can petition a VAT Tax Refunds in UAE.  After filing their VAT return When a taxpayer submits a claim for VAT Tax Refunds in UAE. The FTA will action and review the request within 20 business days of submission. The taxpayer will be notify concerning the FTA’s decision to accept or reject the claim. If the process excess the timeline of 20 days. The FTA will notify the taxpayer regarding the addition of the deadline

VAT refund form

  • The VAT refund form accommodate the following fields
  • TRN (Tax Registration Number). This field is pre-populate base on the details in the taxpayer’s Accounting and Bookkeeping in the User Profile tab. It’s advisable to verify if the accurate TRN is listed.
  • Entire amount this field is pre-populate base on the formula, Refunds – Penalties = Excess Refundable Tax. This includes refunds report in all formerly submit VAT Tax Refunds in UAE. And all administration penalties due except for the late registration penalty.
  • The amount you wish to have refund (in AED). The amount you enter must be identical to or less than the amount display. in the Total amount of Excess Refundable Tax field.
  • Remaining amount of eligible Excess Refundable Tax. the amount of returnable tax that you can apply for in the future.
  • Late registration penalty amount (in AED). This field is pre-populated base on. The penalties foist on you and whether you have settled the penalty amount or not.
  • If you’re free from penalties, then the field will display Zero (AED).
  • If you have been charge a penalty, but you’re yet to pay. The quantity at the time of claiming this refund. If the refund amount is negative after deducting the penalty amount. your requisition will be automatically reject after submission. If the refund amount is positive after deducting. The penalty quantity only the balance will be submit to the FTA for refund claim vision.