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Penalties for failure to submit correct information in the VAT return
In situations where incorrect information is submitted in a VAT return, such as under-accounting the FTA or over-recovering input tax, the following penalties will apply:

AED 3,000 for the first error.

AED 5,000 for every following error.

- 5%, 30% or 50% Percentage-based penalty on the unpaid amount to the FTA due to the error. The percentage will be calculated based on whether or not the error was disclosed to the FTA.
Free Webinar
Correcting VAT Errors & Avoiding Penalties
Difference between Adjustment and Correction of VAT errors
Rectifying Errors While Filing VAT Returns through Voluntary Disclosure
Submission of Voluntary Disclosure -when is it mandatory?
Voluntary Disclosure Reporting Requirements
Applicable Penalties in case of Voluntary Disclosure
Accounting Requirements under UAE VAT Law
Accounting Automation. Benefits of Automation besides simpler VAT Accounting
Practical Case in FirstBIT Accounting: key points & complicated cases
Speakers
Our speakers will share technical know-how with their worldwide experience on VAT procedure and automation
Alexey Sidorin
Tax Manager at VAT Guide
Anastasiya Orincheva
Project Manager at First BIT
Join our VAT webinar to help you avoid VAT penalties
What is a "webinar" and what should you do to join it?
Webinar is a seminar hosted in real time on the web.

You can watch a live stream of webinar from your office, a cafe, an airport, or any location with the Internet connection. You can also ask questions in real time using the chat.

Date
Tuesday,
6 November, 2018
Time
11:00 AM
Duration
60 minutes
live stream
Fee
Free
Who should attend
Register for the webinar
Current Accounting Software in Use:*
Kind of business activity*
Or just Call us today at:
+971 4 439 6900

First BIT Accounting is the
Federal Tax Authority
Approved Accounting Software


Learn how First BIT can help your business manage!

Comprehensive financial and tax accounting in one system;
Advanced bookkeeping and payroll functions;
Automatic VAT calculation;
One-click reporting;
Complete audit and tax compliance

Face VAT confidently with FTA-APPROVED VAT Accounting Software
for UAE
, which ensures you always have ready-to-use VAT features throughout the accounting cycle in compliance with any new VAT rates or regulations.

If you still have any questions,
please contact us
+971 4 439 69 00
uae@firstbit.ae
About Us
First BIT is a leader in providing complex business automation systems and all-round IT services.

With more than 20 years of expertise, the company is committed to providing businesses of any size with top-notch automation and optimization solutions. Covering the whole spectrum of financial and accounting processes and having a strong background in VAT implementation, First BIT will ensure seamless and trouble-free realignment of your business processes for the upcoming changes.

5,000+ professionals in 80 offices take care of fulfilling your business needs based on know-how and expertise gained in 150,000+ of implementations around the world.

www.accounting-software.ae
VAT Guide is your trustful partner in taxation.

With 12 years of international tax practice, VAT Guide has created an effective tool set assisting to resolve various tax issues of different complexity. Today in the UAE, VAT Guide helps businesses to implement VAT, tailor existing schemes to the new rules, avoid future risks, and minimize tax burden. Due to its access to the "non-public" information and a comprehensive understanding of the business processes, VAT Guide can apply cost-efficient and time-saving approaches to provide clients with maximum benefits.

www.thevatguide.ae
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UAE@firstbit.ae
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