From January 1 2018, VAT or Value Added Tax are applied to all relevant transactions in each level of the supply chain in United Arab Emirates. Regardless of where it …
Read MoreImportant Details for Businesses about UAE VAT Implementation
What are supplies that are considered as zero-rated in UAE? First rent or sale of residential buildings; Means of public transportation; International transport of passengers and goods; Export of products …
As an indirect, transactional type of taxation, Value Added Tax (VAT) has a significant impact onto the entire operations of a business including with the function of VAT itself. A …
Apart from being concerned regarding the staff’s health and welfare, business owners in the UAE are worried about the impact of the coronavirus (COVID-19) pandemic on the health of their …
Fines and penalties for violations pertaining to Value Added Tax laws are imposed by the Federal Tax Authority. A business in UAE has to abide by the regulations that are …
Read MoreVAT in UAE: Administrative Penalties and Violations
Business owners have a lot of complexities to manage. They have spent time in shaping their businesses and crafting their goals. As revenue starts trickling in and everything going as …
Read MoreBoosting a Business Through Voluntary VAT Registration in UAE
The UAE government constantly implements frameworks and mechanisms across several different government departments as part of their key initiatives in boosting economic health. Among them is VAT implementation in UAE, …
A common question asked within the tax community is this: is sales tax different from value added tax or VAT? In order to answer this particular question, let us outline …
Read MoreDifferences and Similarities Between Value Added Tax and Sales Tax
With (VAT) Value Added Tax’s introduction in UAE on the 1st of January, 2018, UAE has become one of the first countries to implement the indirect tax that’s charged on …
The government of UAE introduced excise tax and VAT at almost the same time between 2017-2018 in the UAE. Excise tax and VAT are forms of indirect tax levied on …
Read MoreWhat is the Differences between Excise Tax and VAT in the UAE?