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 […]
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 […]
Administrative Penalties for Violations in Excise Goods Digital Tax Stamping
UAE Implements Administrative Penalties for Violations in Excise Goods Digital Tax Stamping The United Arab Emirates (UAE) has taken a significant step in regulating excise goods through Cabinet Decision No. 33 of 2019. This decision, issued by the Prime Minister, His Highness Sheikh Mohammad Bin Rashid Al Maktoum, introduces administrative penalties for violations related to […]
Excise Tax Compliance: Dos and Don’ts
Navigating Excise Tax Compliance: Dos and Don’ts Under UAE Tax Laws Excise tax compliance is a crucial aspect of doing business in the United Arab Emirates (UAE). Understanding and adhering to the excise tax regulations is essential to avoid penalties and fines imposed by the Federal Tax Authority (FTA). This article aims to provide an […]
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 […]
New Cabinet Decision Sets Corporate Tax Rates in UAE
New Cabinet Decision Sets Corporate Tax Rates in UAE On February 1, 2023, a new Cabinet Decision (No. 116 of 2022) took effect in the United Arab Emirates, determining the amount of annual income subject to corporate tax. The decision outlines tax rates and provides clarity on taxable income thresholds for businesses operating in the […]
