Mr. Sachin - Accounting Expert at NUFCA

VAT Consultancy vs. DIY Tax Management: Which is Better?

Praveen

Managing Value-Added Tax (VAT) is a critical yet complex aspect of running a business. Whether you’re a startup, SME, or a large corporation, VAT compliance involves detailed calculations, accurate record-keeping, and timely submissions. For business owners, the decision between managing VAT internally or outsourcing to professional consultants can significantly impact…

Top 5 Reasons to Schedule a VAT Health Check Today

Praveen

In the dynamic and fast-paced business environment of Dubai, adhering to VAT regulations is not merely a bureaucratic necessity—it’s a crucial component of a sound financial strategy. With the complexity and frequent changes in VAT laws, even a seemingly minor mistake can lead to severe financial consequences, including penalties, fines,…

Are You Missing Out on Potential Tax Savings with Proper VAT Strategies?

Praveen

In the complex world of Value Added Tax (VAT), businesses often find themselves overwhelmed by regulations and compliance requirements. However, effective VAT strategies can lead to significant tax savings and improved financial health. This is especially crucial for small businesses that rely on optimized cash flow and precise financial management.…

How to Amend VAT Registration in the UAE?

Team

If you are a business registered for VAT in the UAE and need to amend your registration details, you can do so by following the steps below: It is important to ensure that your VAT registration details are accurate and up-to-date to avoid any penalties or fines from the FTA.…

Team

Federal Tax Authority (FTA) has issued a long – awaited public clarification to provide guidance on the application of the VAT legislation in respect of the recovery of input tax incurred on Phones, Airtime, and packages acquired for business use. Many businesses enter into agreements with telecommunication service providers to…

Team

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…

Team

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…

Team

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…

Team

Taxation is not simple at all, it is a very complicated thing but at the same time it is very much important for you and thus one should never ignore the taxation. Taxation is generally not understood by the people because there are many clauses, protocols, and many other things…

Team

There are differences between auditing and accounting even when they do nearly the very same things and have nearly comparable tasks. They have different tasks that a person can do and the other can not and vice versa. We can provide you the differences between the two and just what…

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