Value Added Tax (VAT) is charged on taxable goods and services. Businesses above the registration threshold must register with URA.
Who must register
Businesses whose taxable turnover exceeds the threshold set in the VAT Act over a set period must register. Some register voluntarily. Confirm the current threshold with URA.
What is EFRIS?
The Electronic Fiscal Receipting and Invoicing Solution lets URA receive invoice data in real time. VAT registered businesses and others notified by URA must issue e-invoices or e-receipts.
Ways to use EFRIS
- Web portal
- Desktop app
- System to system integration with your accounting or POS software
- Electronic fiscal devices
Filing
File VAT returns monthly by the due date and keep records.
Penalties
Non compliance attracts penalties. Get professional tax advice.
Get expert help in minutes
Every situation is different. If you want advice tailored to your plans, book a short call with a verified expert on The Quick Consult and get clear answers without leaving your home or office.