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 …
Value Added Tax
VAT on Transactions in/with UAE Designated Zones
Designated zones in UAE are areas that are specified by UAE Cabinet Decision, as per UAE VAT law, and they have special treatment for VAT purposes. As their areas are …
The UAE FTA Public Clarification VATP024
The Federal Tax Authority (FTA) of the United Arab Emirates (UAE) recently released a public clarification related to the adjustment of bad debts. How does bad debt adjustment work for …
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, …
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 …