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First tax period under UAE Value Added Tax (VAT) Law

16/1/2018

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Tax Period is the specified time frame, for which Payable Tax shall be calculated and paid under UAE Value Added Tax Law and regulations made there under. 
​First Tax Period is the specified time frame, for which Payable Tax shall be calculated and paid under UAE Value Added Tax Law and regulations made there under for the first time only by for the new registrants under Vat tax law. 
What is the difference between tax period and first tax period?
  1. First tax period could range in between a month on minimum side to combination of one tax period and part of another tax period as specified by Federal Tax Authority for the respective tax registrants under UAE Vat. Provision of extended period under first tax period provides extra time and space to the newly registered tax registrant to comply with the vat return and tax payment deadline. 
  2. Succeeding tax periods would be either of one month or a quarter and as specified by Federal Tax Authority for the respective tax registrants under UAE Vat. ​. 
​The concept of the first tax period is to an extent is similar to the concept of first financial statement of a newly incorporated company. It should be noted that in normal course when a new company’s first financial statement are made and audited the period for the first financial statement could be from minimum of 6 months to the maximum of 18 months (i.e. On minimum side 6 months to maximum side being period of an year and part of another year) and is at the discretion of the management of the company.  There after succeeding financial statement are made for the period on 12 months and this is followed year after year. 
Submission UAE Value Added Tax (VAT) Return and payment of tax due as per the return must be made within 28 days from the end of the tax period whether it is first tax period or succeeding tax period. 
Gupta Accountants competent team as Vat Consultants in Dubai, provides supports at all the stages of the Value Added Tax on good and services in UAE to local  companies, free zone based companies  and designated zone based companies of Dubai, Abu Dhabi Sharjah, Umm Al Quwain, Ajman, Ras Al Khaimah and Fujairah.
​  
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    Ramesh Kumar Gupta is a young and dynamic Chartered Accountant and has 22 years of experience in assurance, accounting, audit and business management.  He is a member of the Institute of Chartered Accountants of India (ICAI).  He is the Managing Partner of Gupta Accountants an accounting and advisory firm in Dubai UAE

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  • HOME
  • ABOUT US
    • GUPTA ACCOUNTANTS
    • MANAGEMENT
    • UNITED ARAB EMIRATES
  • SERVICES
    • ACCOUNTING >
      • Accounting Dubai
      • Accounting Abu Dhabi
      • Accounting Sharjah
      • Accounting RAK
      • Accounting Fujairah
      • Accounting Ajman
      • Accounting UAQ
    • AUDIT COMPLIANCE >
      • Audit Dubai
      • Audit Sharjah
      • Audit RAK
      • Audit AD
      • Audit Ajman
      • Audit Fujairah
      • Audit UAQ
    • AUDIT INTERNAL >
      • Review Dubai
      • Review AD
      • Review Sharjah
      • Review RAK
      • Review Ajman
      • Review Fujairah
      • Review UAQ
    • VAT REGISTRATION >
      • Registration Dubai
      • Registration AD
      • Registration Sharjah
      • Registration Ajman
      • Registration Fujairah
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      • Deregistration Dubai
      • Deregistration AD
      • Deregistration Sharjah
      • Deregistration RAK
      • Deregistration Ajman
      • Deregistration Fujairah
      • Deregistration UAQ
    • VAT COMPLIANCE >
      • Compliance Dubai
      • Compliance AD
      • Compliance Sharjah
      • Compliance Ras Al Khaimah
      • Compliance Fujairah
      • Compliance Ajman
      • Compliance Umm Al Quwain
    • VAT CONSULTING >
      • Consulting Dubai
      • Consulting AD
      • Consulting Sharjah
      • Consulting RAK
      • Consulting Fujairah
      • Consulting Ajman
      • Consulting UAQ
    • VAT REFUND >
      • Refund Dubai
      • Refund AD
      • Refund Sharjah
      • Refund RAK
      • Refund Ajman
      • Refund Fujairah
      • Refund UAQ
    • VAT VDS >
      • VDS Dubai
      • VDS AD
      • VDS Sharjah
      • VDS RAK
      • VDS Ajman
      • VDS Fujairah
      • VDS UAQ
    • VAT AUDIT >
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      • VAT Audit AD
      • VAT Audit Sharjah
      • VAT Audit RAK
      • VAT Audit Ajman
      • VAT Audit Fujairah
      • VAT Audit UAQ
    • ESR COMPLIANCE >
      • ESR Dubai
      • ESR Sharjah
      • ESR RAK
      • ESR AD
      • ESR Ajman
      • ESR Fujairah
      • ESR UAQ
    • UBO COMPLIANCE >
      • UBO DUBAI
      • UBO AD
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    • UAE AML COMPLIANCE >
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  • CONTACT
  • BLOG
  • Insights
    • VALUE ADDED TAX - UAE >
      • FAQ - How to >
        • How to check TRN validity in UAE
        • How to de-register under VAT in UAE
        • How to apply for VAT registration in UAE
        • Supplies not eligible for input tax recovery under VAT in UAE
        • Supplies not eligible for input tax recovery under VAT in UAE
        • Input VAT Adjustments under Capital Assets Scheme
      • FAQ - Place of Supply >
        • Place of supply of goods under VAT in UAE
        • Place of supply in case of export of goods
        • Place of supply of specific goods
        • Place of supply of services
        • Place of Supply of Certain Transport Services
        • Place of Supply of Services Related to Real Estate
        • Place of Supply of Telecommunication and Electronic Services
        • Place of supply of services in special cases
      • FAQ - Registration >
        • Introduction to VAT Laws in UAE
        • Frequently Used Terms in Indirect Tax System
        • VAT Registration in UAE
        • Who should register under VAT
        • Tax Registration Number (TRN)
        • VAT registration Deadlines in UAE
        • VAT Group Registration
        • VAT Registration Threshold Calculation in UAE
        • Input Tax Recovery under VAT in UAE
        • What is Capital Asset Scheme in UAE VAT ?
    • CORPORATE TAX - UAE >
      • INTRODUCTION OF CORPORATE TAX - UAE
      • Public Consultation Document Issued
    • Due dates