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A foreign company that conducts business in the United Arab Emirates is eligible for VAT (Value Added Tax). According to the Federal Tax Authority’s regulations and norms (FTA), the rule improves business profitability with the United Arab Emirates. All registered companies must file a VAT return during the tax period detailing…

Revised Tax Penalties for various defaults under UAE VAT Law and amendments in Executive Regulations 24/07/2021 10 Mins read The Federal Tax Authority (FTA) has revised penalties by issuing Decision No. 49/2021 (New Resolution), amending provisions of Cabinet Decision No. 40/2017 (Old Decision) regulating tax penalties imposed for the violation…

The UAE introduced the Value Added Tax (VAT) regime in 2018, which applies to goods and services. VAT is fundamentally a self-assessment process where a taxable person evaluates the applicability of the tax, collects it on behalf of the UAE government, and pays it periodically to the government treasury. To…