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How to Get a Tax Registration Number in Dubai
 


In order to do business in Dubai, you must have a tax registration number (TRN). Getting your TRN can seem intimidating and even downright impossible if you don’t know where to start, but the process is actually fairly straightforward and easy to complete. If you want to get started on this process, read more below!

Click TRN Verification Dubai to see intriguing realities about TRN.



What is an ICA number

Your ICA number is your tax registration number. It is required by government agencies and financial institutions (banks, credit unions, etc.) as part of their Know Your Customer (KYC) procedures. Basically, it’s part of your identity that will allow you access to basic services, like opening bank accounts or applying for credit cards. As an expat living abroad, getting an ICA number can be complicated because most jurisdictions require you to have lived in country for at least one year prior.



What Is a GCC VAT registration number

Registering for VAT has become necessary if you’re operating any type of company in an Arabic country, including United Arab Emirates. VAT is an acronym for Value Added Tax and is charged by most countries on goods and services produced within its boundaries. There are three types of VAT: General, Selective, and Ad Valorem. A UAE-based business must pay five percent of income as VAT—so understanding how it works can save a lot of money over time.



Why do I need it?

In order to do business with any government agency in Dubai, you must first register for VAT. It’s an easy and straightforward process, but before you get started there are a few things you should know. Here’s what you need to know about VAT registration in Dubai.



Do I have to get one?

In short, yes. In case you haven’t heard, beginning July 1 all companies registered in Dubai are required to obtain an Emirates ID number, which means both companies and individual owners must register their organizations with UAE Tax Authority (UAETAX). If you fail to register your company or fail to pay your yearly taxes on time, UAETAX has authorized several options for penalizing companies that don’t abide by these new rules.



Where can I get it?

Most businesses that are based out of Dubai must register for Value Added Tax (VAT) within thirty days of establishing their company. There are exceptions to who must register, but they aren’t always clear—for example, sole proprietorships are not required to get VAT numbers. If you can’t find specific information about your business type, it is likely that you will need a tax registration number.



How much does it cost?

The good news is that it’s very easy and inexpensive to get your VAT number. The bad news is that you must submit receipts for each purchase made over 1,000 AED (about $270 USD). That can be an incredible amount of paperwork, so carefully think through your business purchases before you start spending money on inventory. Luckily, if you aren’t making taxable sales, or are paying other types of taxes in Dubai, then you don’t need a VAT number.

Visit WASILA to see more information.

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Datum rоđenja:  02.05.1997 Pol:  Muški Član od:  13.06.2022 VIP izbora:  0 RSS RSS Feed