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Tax registration in the UAE, especially for VAT, can seem straightforward, but many businesses fall into common traps that can lead to penalties and compliance issues. One of the most frequent pitfalls is missing the registration deadline, which can result in hefty fines. Incomplete or incorrect documentation is another mistake, as the UAE’s Federal Tax Authority (FTA) requires precise details to process registrations smoothly. Some businesses also underestimate their taxable turnover and fail to register on time, thinking they don’t meet the threshold. Additionally, neglecting to maintain accurate financial records can lead to errors in tax filings. To avoid these pitfalls, it's essential to stay informed about tax laws, regularly update financial records, and seek expert guidance when needed.
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