Aqid ERPWho registers
Registration is mandatory once taxable supplies and imports over the past 12 months, or expected in the next 30 days, exceed AED 375,000. Voluntary registration is possible from AED 187,500 of supplies or expenses.
What the return asks for
- Standard-rated supplies, split by emirate (Abu Dhabi, Dubai, Sharjah, Ajman, Umm Al Quwain, Ras Al Khaimah, Fujairah), with the VAT on each.
- Supplies subject to the reverse charge, zero-rated supplies, and exempt supplies.
- Goods imported into the UAE, and adjustments to those imports.
- Standard-rated expenses and the VAT on them you can recover, and reverse-charge supplies received.
- The net VAT: output VAT less recoverable input VAT, payable or refundable.
When it is due
The return and the payment are due by the 28th day after the end of the tax period. Most businesses file quarterly; the FTA sets each registrant's periods, and some file monthly. Late filing and late payment each carry penalties.
Records to keep
Keep tax invoices, credit notes, import documents and the records behind every box for at least five years. A return built from the ledger, rather than retyped from spreadsheets, is the easiest to defend in an audit.
How Aqid ERP prepares it
Aqid ERP builds the VAT 201 from the invoices and bills already posted, by emirate, with each box traceable to the documents in it. Once filed, lock the period, and a late change can no longer quietly alter what you declared.