VAT – Supply of Goods and Services
The Executive Regulation of the Federal Decree-Law No. 8 of 2017 on Value Added Tax The Executive Regulation of the Federal Decree-Law No. 8 of 2017 on Value Added Tax Article 2 – Supply of Goods A transfer of ownership of Goods or of the right to use them from one Person to another Person shall […]
Refund of Tax for Exhibition and Conference Services
Refund of Tax for Exhibition and Conference Services: New Decision Unveiled (Cabinet Decision No. (26) of 2018 on the Refund of Value Added Tax Paid on Services Provided in Exhibitions and Conferences) Introduction: In a bid to support and facilitate the thriving exhibition and conference sector, the Authority has introduced a groundbreaking decision for the refund of […]
Advantages of doing Business in the UAE
Advantages of doing Business in the UAE While the UAE offers many advantages, it’s important to conduct thorough market research and understand the legal and regulatory requirements specific to your business activity and Emirate of choice. This will help you capitalize on the benefits and navigate any challenges effectively. Why do business in the UAE […]
Understanding VAT, Corporate Tax, and Excise Tax Penalties in the UAE
Understanding VAT, Corporate Tax, and Excise Tax Penalties in the UAE What is VAT? VAT, an indirect tax based on transactions, is applied at various stages of the supply chain. The burden of VAT cost is usually borne by end consumers, while registered businesses play the role of tax collectors, responsible for collecting and reporting […]
Streamlining Tax Invoices & Credit Notes in UAE
Streamlining Tax Invoices and Credit Notes: UAE Cabinet Decision No. 81 of 2023 In a move to simplify tax compliance and enhance efficiency, the United Arab Emirates (UAE) government has introduced Cabinet Decision No. 81 of 2023, which addresses the issuance of tax invoices and tax credit notes for different supplies. Consolidated Documents for Different […]
Under UAE’s VAT Refunds Scheme for Tourists
New Maximum Cash Refund for Tourists Under UAE’s VAT Refunds Scheme The Federal Tax Authority has recently issued Decision No. 6 of 2022, setting the maximum amount of cash refund for overseas tourists under the Value Added Tax (VAT) Refunds for Tourists Scheme. This decision, effective from 1 September 2022, aims to enhance the tourist […]
Amendments to Emirates’ Reporting for Electronic Commerce Supplies
Amendments to Emirates’ Reporting for Electronic Commerce Supplies The UAE Ministry of Finance has issued amendments to the reporting requirements for electronic commerce supplies. These amendments provide criteria and conditions for qualifying registrants to report their supplies made through electronic commerce. This article discusses the key provisions of the amendments and their implications for taxable […]
VAT-Supply of Services Executive Regulation
The Executive Regulation of the Federal Decree-Law No. 8 of 2017 on Value Added Tax Understanding the Essence of Article 3 – Supply of Services The VAT Executive Regulation complements Article 3 by providing further details, explanations, and examples related to its provisions. It helps taxpayers and businesses understand the practical implications of VAT on […]
Understanding the Goods and Services in VAT Designated Zones
Maximizing Opportunities in UAE Free zones: Understanding the Goods and Services in VAT Designated Zones Looking to maximize your business opportunities in UAE Freezones? Understanding the ins and outs of VAT designated zones is crucial for any entrepreneur or company looking to thrive in this dynamic market. With the introduction of Value Added Tax (VAT) […]
Understanding the VAT Late Payment Penalty
Understanding the VAT Late Payment Penalty in UAE: Avoiding Financial Consequences and Ensuring Compliance In the dynamic business landscape of the United Arab Emirates, understanding the complexities of the Value Added Tax (VAT) system is crucial for every organization. One aspect that often flies under the radar is the VAT late payment penalty, which can […]
