Getting a Tax Identification Number in the UAE

Company setup in Dubai can be the most exciting task in your business setup process. Dubai is one of the most profitable countries in the world, which ensures your business turns out to be a profitable venture. Business setup in Dubai offers business-friendly policies and tax exemptions, and the biggest thing is that in Dubai, we have various business setup companies that assist you with your company formation process. As we talk about a company setup, it is necessary to know Dubai’s rules and regulations for businesses. There are various tax-related rules, tax identification numbers, office setup rules, and many more. As you have a thought of business setup in Dubai, you also have to think about all these things at the same time.

Make My Firm is a leading business setup company in Dubai. We assist you in your business setup in Dubai, UAE. As you connect with us, you can leverage our decade-long experience for your company setup. As well as you can connect with the expert business setup consultants in Dubai, too! To assist entrepreneurs with their company formation, we provide taxation services, accounting and bookkeeping, auditing services, and many more. Today, we will help you know what a tax identification number is in the UAE, why it is important for you to have it, and what the process of getting your tax identification number is. Shall we start?

Everything you need to know about the Tax Identification Number in the UAE.

Dubai, UAE, is recognized as the land of rules and regulations. We all know that in Dubai, the government gives top priority to rules and keeps the country uniform in certain ways. The government understands that it is required to adhere to rules if it wants to attain its top spot among leading countries. That is why it is also important for you to know about the tax identification number in the UAE and follow the guidelines in your business.

What is a Tax Identification Number in the UAE?

A tax identification number in the UAE is also called a tax registration number. If we understand it in simple language, a tax identification number is a 15-digit number given by the Federal Tax Authority. A tax identification number is necessary when an individual or a company registers for VAT. The sole purpose of TIN is to be related to value-added tax (VAT) and assist with tax compliance.

Who can register for a tax identification number in the UAE?

To register for a tax identification number in the UAE, there are mainly two types. If your business’s annual turnover is above AED 375,000, then it is mandatory for you to register for TIN. For an individual or a company whose revenue does not exceed 375,000, it is not compulsory for them to register for TIN. If you want to, then you can register voluntarily for a TIN.

Why is a Tax Identification Number necessary in the UAE?

You might be wondering why you should get a tax identification number in the UAE, right? Well, we are here sharing all the reasons why a tax identification number is necessary.

• If you are starting a company and are thinking about charging VAT, then you need to have a tax identification number. If you don’t have a TIN, then you can not legally charge VAT. Additionally, your TIN is also required to be on all your tax invoices.
• VAT in the UAE was announced in 2018; after that, every company that crosses the annual turnover of AED 375,000 has been required to register for a tax identification number.
• As you start your business, it is necessary to keep the records of your finances. For this reason, a TIN proves beneficial. As well as it becomes easier for the government to trace and ensure the transparency of transactions.
• As we all know, everyone wants to do business with a company that is completely transparent and proves that they are paying their taxes. A tax registration number is a way of showing that you are paying your taxes and operating your business in a legal way.
• Having a TIN can save you from huge penalties from the government and hence proves necessary if you are thinking about a company setup in Dubai.

If you want smooth operations and don’t want to be worried about taxation services in Dubai, then reach out to us and connect with affordable tax consultants in Dubai.

A step-by-step guide for getting a tax identification number in the UAE.

To get your tax identification number, you have to follow this process.

1. Sign up on EmaraTax: EmaraTax is the official website of the UAE government. You have to sign up for VAT registration and get your TIN.
2. Opt for VAT Registration: As the sign-on to EmaraTax is completed, you have to opt for the VAT registration on the same website.
3. Fill in the Form: At this step, you have to fill in the form with all the important details. It is necessary to fill in the form accurately, as if you have not filled in the right information, then your form might get rejected. You have to fill in the information, such as eligibility criteria, bank details, contact details, authorized signature details, etc.
4. Save Your Progress: You may feel that you have logged out of the website but worry not, as this can happen. To avoid doing the same things, it is suggested that you save the progress of your form.
5. Submit The Documents: As you are applying for TIN in Dubai, you have to submit certain documents. Try to keep all these listed documents with you and save time during the registration process.
   • A valid trade license
   • Articles of Association
   • Certificate of Incorporation
   • Bank letter validating bank account details
   • A copy of financial statements
   • Passport of the authorized signatory
   • Proof of authorization
   • Contact Details
6. Review and Submit the Application: As you have submitted the documents as well as reviewed your application thoroughly, now is the time for you to submit the application.
7. Check For Progress: As we all know, the application may take time and you have to wait till you get your trade identification number. However, you can check the status of your application. At times, it may happen that you have to resubmit the application due to some error or other things.
8. Get the TIN: As your application is submitted and approved, you will get your VAT number. In that certificate there will be your 15-digit trade identification number too. TIN is necessary when you want to claim your funds, interact with the FTA and issue VAT in invoices.

This is a step-by-step guide that assists you with your Tax Identification Number in the UAE. You can call us and our expert tax consultants in Dubai will thoroughly guide you.

As you are thinking about a company setup in Dubai, your business must comply with all the taxation services. At Make My Firm, we assist you with all kinds of financial services in Dubai, such as taxation services, accounting and bookkeeping, auditing, etc. You can connect with us and we will be there to assist you.

Why choose Make My Firm for your financial services in Dubai?

Make My Firm is a leading business setup company with 10+ years of experience in company setup services in Dubai. We have in-depth knowledge of Dubai’s government rules and regulations. As well as our expert and affordable tax consultants will assist you thoroughly with your taxation services. As you connect with us for your financial services in Dubai, you can leverage our years of experience and can build a successful business empire.

Conclusion

Make My Firm assists you with all your financial services in Dubai. We don’t add much to your financial stress and offer affordable tax consultants in Dubai who ensure your business complies to every rule in Dubai. You can contact us at +971 52 673 9777 and we will be there to assist you ASAP.