VAT Supply of Goods and Services
Understanding Supply of Goods and Services Introduction: In the era of commerce, the exchange of goods and services forms the cornerstone of economic activity. Understanding the challenges of supply, particularly within the context of regulations and frameworks, is essential for businesses and individuals alike. The difference between goods and services, the intricacies of supply in […]
10 Things You Need to Know About VAT
10 Things You Need to Know About VAT Definition of VAT VAT is an indirect tax applied to the supply of most goods and services. Charged at each stage of the supply chain. The end consumer bears the costs. Businesses collect and account for the tax on behalf of the government. Reasons for UAE […]
Understanding the VAT law in the UAE
Understanding VAT – Federal Decree-Law No. (8) of 2017 on Value Added Tax In 2017, the United Arab Emirates introduced Federal Decree-Law No. (8) to establish a framework for Value Added Tax (VAT). This legislation outlines the scope, rates, and responsibilities related to VAT, a consumption tax that is imposed at each stage of the […]
Annual Tax Updates 2023 GCC Region
Annual Tax Updates 2023 in GCC Region In 2023, significant tax updates and changes unfolded in the tax landscape across the GCC countries. The GCC region is known for its dynamic economic environment, with each country having its tax regulations and policies. Recognizing the importance of staying informed, here are the major tax updates announced […]
Refund of VAT Paid on Services Provided in Exhibitions and Conferences
Refund of VAT Paid on Services Provided in Exhibitions and Conferences Cabinet Decision No. (26) of 2018 In a move to facilitate the smooth provision of Exhibition and Conference Services, the tax authority has laid out a clear framework for the refund of tax to suppliers. This article sheds light on the essential conditions and […]
Criteria for Determining Pieces and Parts of Electronic Devices
Criteria for Determining Pieces and Parts of Electronic Devices Introduction In a rapidly evolving technological landscape, the determination of components and accessories related to electronic devices is crucial for regulatory clarity and consumer understanding. Ministerial Decision No. 262 of 2023 establishes comprehensive criteria for identifying these integral components, shedding light on what constitutes essential elements […]
VAT Refunds for Mosque Construction Expenses
Refund of VAT Paid on Services Provided in Exhibitions and Conferences Introduction Constructing a mosque involves various expenses, and individuals or construction companies undertaking such projects may be eligible for a refund of the Value Added Tax (VAT) incurred during the construction process. This guide outlines the process, eligibility criteria, and necessary documentation for obtaining […]
Mandatory VAT Registration
Exploring Mandatory Tax Registration for VAT Introduction: In the realm of fiscal governance, the process of tax registration holds paramount importance in ensuring an equitable and structured taxation framework. Federal Decree-Law No.18 of 2022 sets the stage for such regulation under its Title Four, specifically through Article 13 – Mandatory Tax Registration. This article delineates […]
Refund of VAT for Exhibitions and Conferences
Refund of VAT for Exhibitions and Conferences Cabinet Decision No. (26) of 2018 In a move to facilitate the smooth provision of Exhibition and Conference Services, the tax authority has laid out a clear framework for the refund of tax to suppliers. This article sheds light on the essential conditions and procedures that must be […]
10 Things You Need to Know About VAT
10 Things You Need to Know About VAT in the UAE 10 Things You Need to Know About VAT in the UAE –VAT-10-QA-291017 VAT, an indirect tax on goods and services, impacts the supply chain, with businesses facilitating its collection for the government. The UAE’s adoption of VAT aims to diversify income, ensuring sustained […]
