The Federal Tax Authority (FTA) has recently released eight education videos on its website to teach UAE businesses the simple four-step procedure to filing VAT returns.
The videos, which are now available on the website as well as social media channels of the Authority, can be seen by anyone who wants to know the tax return filing process in the UAE. The videos explain a live step by step procedure to submit tax returns and pay liable VAT directly to the authority. They have been made in an easy to understand and follow manner.
The FTA has urged businesses to follow the return deadline otherwise administrative penalties may be applied on non-compliance.
“Launching the videos is part of the Federal Tax Authority’s plan to raise tax awareness among businesses and members of the community from all backgrounds. These educational and awareness efforts are part of our strategy to improve our services and encourage self-compliance with tax procedures using our advanced electronic systems.”
The FTA further explained that the procedure for filing tax returns on the website, the facility of which is available round the clock, has been explained in full detail through these videos.
Note that the videos only explain the process for submitting VAT returns and paying tax, it doesn’t contain instructions for registering a tax account with the authority. The users must already have an account with the FTA website in order to submit their tax returns.
Tax Return Form VAT 201 is used for the filing VAT returns in the UAE
The videos available on the FTA website and Facebook/Twitter accounts contain live instructions on filling out each field of the return form with proper details of sales and other supplies, inputs and related purchases, the due tax liability for the particular tax period, tax payment, etc.
Some of the details in the VAT return form 201 may be auto-populated based on the taxpayer profile and turnover information. The videos further explain the steps to make the payment of taxes using any of the available payment options once the tax return is submitted successfully.