When your tax return has a greater input VAT than output VAT. Meanwhile, you will be able to request, as a taxpayer, a refund of the excess amount with the help of Farahat & Co’s regulated tax agents in Dubai. Input VAT is tax payable for items (goods and services) which purchased by a business or taxable person in UAE. The output VAT, on the other hand, is collected tax on items sold by business or taxable person in UAE.
Eligibility in obtaining VAT Refunds
Since the introduction of VAT in UAE, the firm and its reputable team of tax specialists help clients eligible for VAT refunds which are as follows:
- Taxable person or business entity that has paid an excess amount for VAT
- Tourists or foreign businesses visiting the UAE
- Foreign governments, military bodies, institutions, international organizations, and the like that have incurred VAT for any item that is supplied in UAE