Penalties for VAT Deregistration in UAE
VAT deregistration in UAE is the cancellation of a taxable entity’s registration for VAT. When the Federal Tax Authority or FTA in UAE approves of the application for VAT cancellation, …
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VAT treatment for VAT-free promotions
VATP020 was published by the UAE Federal Tax Authority (FTA) to give the public clarification on the VAT treatment for promotions. It’s intended for businesses that provide clients or customers …
VAT Treatment for UAE Transportation
Generally, supplies of goods and services that take place within UAE for VAT purposes are subject to VAT with five percent as the standard rate or zero percent if considered …
Guide on Getting VAT Refunds for Exports in UAE
The golden rule that applies to VAT refunds for exports in UAE is that exporters can only submit a claim for products and/or services that are used exclusively and wholly …
The Tax for Social Media Influencers in UAE
Over the past decade, bloggers, online influencers, and vloggers have made a brand-new industry. Take note, it is one that is very lucrative. For many, they’ve started out to be …
Understanding VAT in UAE: Should You Deregister?
A lot of small business owners are considering whether or not the coronavirus (COVID-19) pandemic’s trading impact makes now the right time for VAT deregistration in UAE. When should I …
Oman to Start Charging 5% VAT Next Month
Oman issued Royal Decree (No 121) of 2020 on the 18th of October 2020 regarding the implementation of VAT in Oman starting on the 16th of April 2021. Consistent with …
Is VAT on Insurance Taxable?
Value Added Tax’s (VAT) fundamental nature is that it’s not taxation imposed on businesses. Instead, it’s a type of tax that’s collected by business entities operating in the UAE that …
Tax Agents in the United Arab Emirates
The implementation of an advanced tax system requires qualified human competencies capable of navigating the tax requirements imposed on the public by the tax legislation. Therefore, in 2018 the Federal …
VAT on Imports and Customs Duty
Value Added Tax or VAT is payable at the point of importation to the UAE. Any imported good is liable to VAT with the same rate which applies to a …