
VAT REFUND
VAT refund request is made by the taxpayers in UAE when they realize on filing their VAT return that the input tax, they have paid is greater than the output tax. Input VAT is the amount that is paid to the supplier towards purchases or expenses whereas output VAT is the amount that is collected on sales. In order to claim the difference between the two from Federal Tax Authority, one has to file the VAT refund request as VAT refunds are not granted automatically.
The procedure has its own set of requirements and meeting them all to the FTA’s satisfaction is not as easy. However, you can always outsource the filing of VAT refund requests to the experts in the field such Abstract Tax Consultant
The tax professionals at Abstract Tax Consultant will assist you to file VAT refund applications on a timely basis in correct format, suggest corrective action to rectify any discrepancy which can expedite the refund process and respond to FTA queries related to the refund application. Timely and accurate refund application with sufficient document submission will result in timely refund process thereby causing positive cash flow and smooth business operations.