For most businessmen and entrepreneurs, VAT registration is a pretty common term. VAT or Value Added Tax registration is a prerequisite for businesses obtaining over AED 3, 75, 000 turnover annually. VAT registration is mandatory for both trading and manufacturing businesses. It helps the business grow and get acknowledged by the government. VAT registration Dubai enables businesses to acquire VATs from the customers and also provide the same to the government. All businesses who have undergone VAT registration in UAE will be required to pay a penalty if they are not punctual enough to inform the authority about the changes undergone. For the first time, the payment is 5000, whereas, for repetitions, the amount will increase to 15, 000. Therefore, all businesses need to thoroughly know the VAT registration Dubai process to form a responsible business.
