When you have a business you need to have registration number for the business. When you have registered the number you need one ID number for so that you can get the ID numbers that will help you to do the taxation. Here is the importance of tax registration number and they are stated below.
- The tax ID number is essential to file the tax return. In case of a sole business the owner can use the Social Security number that will help to get the tax return. If you see then you will know that social security number is social security number is very common. It is considered as one of the Tax Return Numbers.
- In case of a firm where there are other employees working in the firm then as a business owner you need to register with RIS. It is essential to get ID number seoerately for the employees.
The Steps to Get the Tax Registration Number
- You need to log in to your e-service account to register the VAT in UAE under the Federal tax Authority. If you do not have an account you need to create account otherwise you will not be able to register the VAT.
- After that you need to chick on the Register for VAT and then a guide will appear that you need to read thoroughly. The guide will help you to get a full idea about the nature of VAT in UAE. After reading the terms and condition guide you need to click on the agree option.
- Once you agree with the policy you will get the form where you need to fill all the detailed information. After filling the details you need to submit the application and you need to go to the next page.
- After sending your approval a scrutiny work will be carried out before generating the VAT registration number. The candidate will receive a mail in order carry out the verification process.
- After your approval the business will be registered as VAT in UAE and your business will receive a Tax Return Number and that will be mentioned in the certificate of VAT registration.
What are the Documents you Require?
In order to register the VAT and to get the Tax Return Number you need some important documents that will help you to perform the task legally. The documents are stated below-
- Copy of trade license of your business
- The ID issued by the government and if your business has partner then you need to submit the ID and passport size picture of your partner.
- Contact details of the owner/owners.
- Details of the company; for example address, mail id, and contact number.
- Bank account details of the company
- Income state of your business.