Penalty for Voluntary VAT Disclosure in UAE
There are several rules and regulations businesses have to follow with respect to VAT or Value Added Tax in UAE. As such, it can be very easy for registered entities …
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Ways for Businesses to Manage UAE VAT Liability
The area of taxation, specifically VAT for small businesses in UAE, isn’t exactly straightforward. As a matter of fact, it can easily feel like a minefield for unwary registered businesses. …
VAT Accounting in UAE
While accounting and bookkeeping for VAT are similar to traditional processes overall, there’s a couple of unique considerations with VAT accounting in the UAE. Being aware of the special considerations …
Difference between Zero-Rated and VAT-Exempt
When charging Value Added Tax or VAT in UAE, rates that are charged greatly depend on what the products or services are. The majority of items in the country are …
Reverse Charge Mechanism Under VAT in UAE
With VAT compliance in UAE, the VAT reverse charge mechanism is oftentimes overlooked. Although it is part of accountability for VAT in UAE, most businesses fail in recognizing it which …
Filing a return for VAT for Small Businesses
Running a small business in UAE is difficult enough without considering the complexity of having to file VAT returns (tax return filing) on a regular basis. What we always recommend …
How to Reduce VAT Penalties in UAE
VAT penalties imposed on small businesses in the United Arab Emirates (UAE) can be very serious. Consequences are grave, which is why it is best to have the right measures …
How to Charge VAT in UAE
If you are running a VAT-registered business in UAE and you know exactly the rates that apply to different products and services, then you are ready to begin charging Value …
VAT on Real Estate Market in UAE
The UAE, since January 1st of 2018, implemented Value Added Tax or VAT. VAT is levied on certain products and services, including property transactions that occur across the country including …
VAT on Insurance UAE
Federal Tax Authority or FTA in UAE has- issued public guidance for VAT requirements that are related to insurance supplies. It covers all the characteristics of insurance-related services in relation …