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Provisional VAT number in UAE
By UAE TAX December 25, 2017 0 417
Latecomers get provisional VAT number in UAE
Having a tax registration number is a mandatory requirement to mention on invoices.
The UAE’s Federal Tax Authority (FTA) has started to issue provisional tax registration numbers (TRNs) to businesses that commenced registration after the December 4 deadline, in order to help achieve tax compliance ahead of VAT implementation on January 1. Businesses that fail to register with the FTA will face a penalty of Dh20,000.
The FTA said it had already issued provisional TRNs for tax groups and will provide the same for individual businesses shortly. “Having a tax registration number is a mandatory requirement to mention on invoices as it would enable businesses to claim credits. Having obtained the TRN, businesses can now configure their IT system to mention it on all tax documents from January 1.
“Businesses can now communicate the same to their suppliers, vendors, and customers so when they raise invoices
The Federal Tax Authority also called on businesses to verify the data that is entered in the application form, carefully review the form and ensure its flawlessness before submitting, as faulty data could lead to the rejection of the application.
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