- July 2, 2021
- Posted by: admin
- Category: Blog
There are understandable confusions with the implementation of the VAT (values added tax) system in the UAE. Of course, not everyone is aware of what the tax system means and how it works because the country hasn’t experienced this before. This is the first time in history that UAE has imposed a tax on goods and services. One question that is probably pressing people till now is how to apply for TRN number in UAE. Here we present the proper guidance and discuss more in-depth on TRN number and how you can get it.
Simply put, the TRN comes with completing your VAT registration process. The FTA has opened its portals to registration since 2017, and those who have failed to accomplished the deadline were given the chance to register again. Those who haven’t tried to register certainly don’t know where to get the TRN. This is provided when the process of registration for VAT is accomplished.
What is TRN (Tax Registration Number )
A tax registration number is a unique number. The TRN is a dedicated number issued to a company or individual that has been registered for VAT in the UAE by the Federal Tax Authority (FTA).
This is a 15-digit number through which the Federal Tax Authority would be able to discriminate you from others. The entity to which the tax number is issued is called “Registrant”, who must mention always this number in various documents prescribes by the government like VAT return filing, tax credit note, tax invoice, etc.
After registering for VAT in Dubai, the company or individual will be automatically issued a TAX Registration Number (TRN). This is essential for the companies to mention the TRN because this would permit the government to keep track of all the transactions that have been done by an individual or a business.
Only those merchants or companies who have obtained their TRN certificate are permitted to charge VAT from customers. The companies that don’t have tax registration number (TRN) in the United Arab Emirates would not charge VAT from their customers.
The Process to Apply for TRN Number in UAE
The procedure of obtaining a TRN has been simplified as the registration procedure can now be conducted online. The business requires to register online with the FTA to complete the registration procedure. To register for VAT online, you require to adhere to the simple steps that are given below:
- Login to Your E-service Account : The first step is to make an account on the Federal Tax Authority online portal. For account creation, the business requires to give a few information like the email ID and password for the account. Once you provide those details you would be getting your login credentials for your account in the email given previously.
- Click on Register for VAT : After you log in to your account, there will be a clickable button named register for VAT present on the screen. You have to click on that button which would bring up a guide that will help you to get started with VAT. This guide would help you understand the vital features of VAT in the UAE. After reading the full guide, you require to tick “Click-Here” to confirm that you’ve read the getting started guide and then click “Proceed”.
- Fill out the Necessary Details in the VAT Registration Form : When you clicked on the “Proceed” a registration form would open ahead. This form consists of eight different sections that require the business to offer an appropriate and essential information. Once all the essential information is properly filled in on one page, the portal would permit you to go to the next page. The track of the registration procedure can be easily kept as the completed pages would be marked by a green tick mark. After filling all the pages, you require to click on “Submit for Approval”.
It will send the fulfilled registration form to the FTA, that would check the form and send you mail of approval. Upon approval, the unit is registered for VAT in the UAE and gets a TRN (Tax Registration Number) and VAT registration certificate. This number will be used to identify you and your business among different businesses.
Documents Required for TRN Number in UAE
The list of necessary documents that a business requires to prepare throughout the registration procedure is below:
- Registered Email ID
- Passport copy and Emirates ID for Owners/shareholders
- Copy of power of attorney
- Turnover declaration letter contai8ning sales figures from 2017 as per FTA format.
- Supporting documents for the revenue
- Projected future revenues with the supporting documents such as confirmed purchase orders.
- Details of bank account involving IBAN number
- The company’s registered address
If you are looking for TRN number in UAE then Taskmaster Loan brokers in Dubai can help you. The professionals at Taskmaster set the target to offer the best services to a business that would permit your business to access its maximum probability and would also make sure that the business does not face problems in the taxation department.