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 […]
Navigating Compliance: Understanding Customs Declaration Audits in the UAE
Navigating Compliance: Understanding Customs Declaration Audits in the UAE Customs declaration audits are a crucial component of international trade, ensuring accurate reporting and adherence to regulations. In the United Arab Emirates (UAE), these audits play a pivotal role in maintaining the integrity of trade transactions while promoting transparency and compliance. This article provides insights into […]
Administrative Penalties for Violations related to Corporate Tax
Administrative Penalties for Violations related to Corporate Tax What is Corporate Tax in UAE? Corporate Tax is a type of direct tax imposed on the overall earnings of corporations and other enterprises. In some jurisdictions, it is alternatively known as “Corporate Income Tax” or “Business Profits Tax.” What are the penalties in Corporate Tax? Penalties […]
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 […]
Enhancing Control: UAE’s Decision on Marks for Designated Excise Goods
Enhancing Control: UAE’s Decision on Marks for Designated Excise Goods In a move aimed at strengthening regulatory oversight and ensuring compliance, the United Arab Emirates (UAE) has introduced a comprehensive decision concerning the marking of certain excise goods. The decision outlines the specific dates of availability of marks, fees for their purchase, secure storage protocols, […]
Progressive Tax Residency Rules for Natural Persons
UAE Ministry of Finance Introduces Progressive Tax Residency Rules for Natural Persons: Understanding the Center of Financial and Personal Interests The practical implementation of corporate tax on the specific situation outlined in the “Implementation of Certain Provisions of Cabinet Decision No. 85 of 2022 on Determination of Tax Residency” involves determining the tax residency status […]
The Individual Responsible For Paying The Tax
Federal Decree-Law No. 7 Of 2017 for The Individual Engaging In Any Of The Activities Mentioned In Clause 2 Of Article 2 Of This Decree-Law Is Responsible For Paying The Tax The responsibility for paying the Due Tax is outlined in the following manner within the context of this Decree-Law. When any individual engages in […]
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 […]
