UAE VAT Exemption and Zero-Rating
Value Added Tax (VAT) in UAE has three major categories, which depend on the nature of the supplies. They are taxable VAT, VAT exempted, and zero-rated. In this article, we’ll …
Value Added Tax
VAT Applies to Construction Companies and Supplies
While supplies that are related to new building construction in the UAE are zero-rated for the purpose of VAT, supply of buildings (either by lease, rental, or sale) and bare …
Tips to ensure your business is audit-ready
A Federal Tax Authority (FTA) tax audit in the UAE is an in-depth review of an organization or individual’s financial information and accounts. Tax audits conducted by officers from the …
How to Select the Right VAT Consultants in UAE
Majority of businesses in UAE hire VAT consultants for VAT return filings. However, hardly any know much about these professionals or how to choose the right tax preparers. Almost all …
VAT & Supply of Services in UAE
Is your business in UAE registered for VAT? Make sure you’re fully aware of the different VAT rates which are applicable to the transactions of your business, particularly for sales …
FTA to Reduce Fines for 16 Types of Administrative Penalties
In order to facilitate filings of accurate tax returns in UAE by the 27th of June, 2021, the Federal Tax Authority (FTA) announced relief for businesses through reduced penalties. Sixteen …
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VAT in GCC
Oman has become the 4th GCC or Gulf Cooperation Council member state that introduced VAT or Value Added Tax regulations. The date of VAT implementation in Oman is the 16th …
How VAT in Oman Affects the Country
The Omani government has recently implemented Value Added Tax (VAT in Oman) regulations. Governments across the globe impose taxes on consumers as a means to raise revenue, which will be …
FAQs You Should Know About VAT
Value Added Tax in UAE can be a huge administrative burden for lots of people and businesses. It can be both time-consuming and complex, plus you can incur heavy costs …
VAT Treatment for Motor Vehicles
Generally, a registered business for VAT purposes in UAE can recover VAT incurred for rental, lease, or purchase of motor vehicles that are used solely for business activities within the …