UAE VAT

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…

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…

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…

Worth included tax (VAT) is generally a tax that is implemented on the goods and services which is imposed at their sale. This is, in fact, the kind of an indirect tax that is used in a number of countries in the entire world. The expense is sustained by the…

The Tax Registration Number (TRN) is a special 15-digit number gotten after the VAT registration of a business to differentiate one entity from the other. The VAT is an indirect tax imposed on the purchase of products and services. The execution of VAT has actually increased federal government profits to…

A tax audit is an exam conducted by the Federal Tax Obligation Authority (FTA). To confirm if a company is sensibly performing its business procedures as a registered taxed service. This audit makes certain that all companies submit the tax returns accurately. Which every responsibility, as well as tax obligation…