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If a company's taxable supplies and imports total more than AED 375,000 per year, it must register for VAT. It is optional for enterprises with annual supplies and imports of more than AED 187,500. The tax that a company obtains from its consumers is paid to the government.The VAT rate is set at 5%. VAT will provide a new stream of revenue for the UAE, which will be used to continue to provide high-quality public services. It will also assist the government in achieving its goal of reducing reliance on oil and other hydrocarbons as a revenue source. If you are looking for the VAT registration in UAE then Earningo will help you out.
