Most frequent questions and answers
Ans: As per UAE VAT Law, if you are providing only Zero-rated supplies, you will be eligible to claim exception from VAT registration but if the authority feels that there are services which you provide that does not qualify for zero-rating, such exception granted can be revoked. In order to get the exception, the applicant shall notify the same through his VAT registration application.
Ans: No, currently foreign banks are not recognized in the FTA portal at the time of VAT registration in UAE.
Ans: Yes, as per UAE VAT Law, failure to submit a registration application within the timeframe specified can attract a penalty of. AED 20,000
Ans: The tax regimes, KSA and UAE, though derived from a common GCC framework are two different tax regimes. You will have to obtain separate registrations for your companies in both countries.
Ans: FTA has arranged an online verification system by which you can check whether the TRN provided by your supplier is registered in the system.