Monday, 12 February 2018

How to make your Laundry Business VAT enabled - UAE

The business environment in the United Arab Emirates has recently undergone a huge transformation.
With the introduction of Value Added Tax (VAT) from the very starting of 2018, most of the business
owners had to bring some changes into their style of working. We are here to make your journey through
VAT smoother.

Here is everything you need to know to implement VAT in your Laundry or Dry Cleaning Business.

  • Is it necessary for you to implement VAT?
First off you would have to determine if your business falls under the compulsory VAT registration category or not.
A business must register for VAT if their taxable supplies and imports exceed the mandatory registration threshold of AED 375,000. Although if your business does not fall into the above category but if your taxable supplies and imports exceed AED 187,500, you may voluntarily choose to register under VAT. But it is not necessary.
  • VAT registration
If you do have to register for VAT, you can easily do so by logging on to the FTA’s website.
  • Computation of VAT

From 1st Jan 2018, businesses will start charging VAT from you on every input you purchase for your business. Be it machines, chemicals or other small inputs. Alternatively, you may collect VAT (5%) on the Laundry or Dry Cleaning service from your customers.

If the amount of tax that you collect is more than the amount that you pay in tax, then you have to pay the balance to the government. Although if the amount of tax that you pay is more than what you collect, then you may claim the difference amount from the FTA.

  • VAT payment
    The tax returns have to be filed on the 28th of every month. The return would have to filed online by filling up a form provided by the Federal Tax Authority

Now that you know everything, how are you planning on to take on this humongous task over and above what you already do? 

Don’t worry, Quick Dry Cleaning Software is all set to make your Laundry Business VAT enabled. 

With our VAT compliant automated Accounting, Reporting and Invoicing, making your dry cleaning business and laundry business VAT ready would be no problem at all.
  •      Print VAT enabled invoices in Arabic
  •      Take out monthly VAT compliant reports to make VAT filing a breeze
  •      Automatic computation of VAT makes it super easy for you to become VAT compliant.      

          Here at Quick Dry Cleaning Software, the success of our customers is of the utmost importance
         for us and all our efforts go into making your lives easier by automating your business processes.
         Do you want to make your Laundry and Dry Cleaning Business VAT enabled?

If yes, Click Here!

1 comment :

  1. Thanks for sharing such beautiful information with us. I hope you will share some more information about on demand laundry service. Please keep sharing.