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 […]
Understanding the Essential Requirements for VAT Invoicing
The Essential Requirements for VAT Invoicing Understanding the Essential Requirements for VAT Invoicing The process of issuing invoices can vary based on the specific operations and customers involved. However, in accordance with the VAT law, there are certain requirements that registrants must adhere to. These requirements include: Providing an original tax invoice to the recipient […]
Q2 2023 – GCC Tax News & Updates
Q2 2023 – GCC Tax News & Updates As part of our commitment to keeping you informed about the latest developments in the financial landscape, we are delighted to present our newsletter featuring tax highlights for GCC (Gulf Cooperation Council) countries. The GCC region is known for its dynamic economic environment, with each country having […]
VAT Health Check – Why is it important?
VAT Health Check – Why is it important? A VAT health check is a crucial evaluation of a company’s compliance with United Arab Emirates (UAE) value-added tax (VAT) legislation and regulations. Businesses can reduce possible risks, spot areas of non-compliance, and exploit cost-saving possibilities by assessing and updating VAT compliance procedures and processes. An overview […]
VAT Refunds in the UAE: An Understanding
VAT Refunds in the UAE: An Understanding Introduction A VAT registered businesses in the UAE that make exempt, out of scope or taxable supplies must go through the Value Added Tax (VAT) return procedure. The companies who has exempted supplies are unable to claim the VAT paid on allowable expenses. The Federal Tax Authority (FTA) […]
Tax Dispute Resolution Committee
Tax Dispute Resolution Committee – Reconsideration Requests Under Article (29) Of The Tax Procedures Law Individuals and companies in the United Arab Emirates (UAE) have the option to request a review of any decision made by the Federal Tax Authority (FTA) thanks to the Tax Procedures Law. The procedure and prerequisites for making such requests […]
VAT Registration in the UAE: Ensuring Compliance with FTA Guidelines
VAT Registration in The UAE – Ensuring Compliance with FTA Guidelines Businesses operating in the United Arab Emirates (UAE) must register for Value Added Tax (VAT) in order to adhere to the rules established by the Federal Tax Authority (FTA). The importance of VAT registration in the UAE is highlighted in this article along with […]
Tax Loss Relief and Transfer Regulations : An Overview
Tax Loss Relief and Transfer Regulations : An Overview Tax Loss Provisions Tax loss provisions serve as crucial components of the tax system because they allow businesses to balance their losses against taxable revenue in order to reduce their overall tax obligation. During difficult times, these laws give some financial assistance to enterprises. This article […]
