Key Insights: UAE VAT Executive Regulation amendments
The UAE introduced VAT as part of its initiative to diversify its revenue streams, aiming to reduce reliance on oil. The Federal Decree-Law No. 8 of 2017 established the VAT framework, which has undergone several amendments since its implementation. This guide to the VAT Executive Regulation, offering insights for businesses, tax professionals, and individuals from […]
Top 15 VAT FAQs
Value Added Tax is an indirect, transaction-based tax that is levied at every stage of the supply chain. The end consumer generally bears the cost of the tax while the registered business calculates and collects the tax, as a tax collector on behalf of the Federal Tax Authority. What is the value-added tax rate? How […]
VAT Guide for E-Commerce in UAE
VAT taxes are one of the biggest challenges that e-Commerce businesses in the UAE face. They collect the tax from their customers and then deposit it with the government. However, this is one of the most complex tax laws. Doing it wrong can cause fines, penalties, and even jail time. Before considering doing business in […]
5 COMMON VAT ERRORS AND HOW TO RECTIFY THEM
Value Added Tax in the United Arab Emirates can be complicated. And understanding VAT, while you are busy running your business, can be difficult. Such a situation makes you more prone to making VAT errors and not complying with VAT rules correctly. There are many complexities involved in the operation of VAT, and they can […]
VAT for E-commerce in UAE
Overview E-commerce VAT guide by the Federal Tax Authority notifies the V.A.T. treatment of supplies of goods and services through electronic means, such as over the internet or a similar electronic network. All goods and services that are purchased online are subject to a 5 percent Value Added Tax if their delivery address is in […]
VAT Voluntary Disclosure In UAE
He approaches one of his friends who tells him about the VAT Voluntary Disclosure Form 211 Are you finding yourself in a similar situation? Continue reading to learn more about how you can rectify the error via VAT Voluntary Disclosure Form 211 Paying VAT to FTA in UAE must be done with utmost detailed accuracy and […]
Everything About VAT In UAE
Thresholds for UAE VAT Registration Process List of documents required for UAE VAT Registration Process Other Required Details for UAE VAT Registration Process (Note: Documents as mentioned earlier and details should be kept ready before you start the registration process on the VAT registration portal.) Steps for UAE VAT Registration Process: The sign-up details will be used […]
VAT Fines & Penalties in UAE
Federal Tax Authority (FTA) had approved and disclosed the complete and final list of all the administrative VAT Fines and Penalties in UAE that were imposed on businesses for violations of the VAT laws. Despite VAT being imposed on UAE in the last two years, there are various firms that still fail to work with the FTA […]
All you need to know about VAT De-Registration in the UAE
The withdrawal of VAT registration is called VAT De-registration. However, in the UAE, the VAT deregistration is when a business cancels its VAT registration with the Federal Tax Authority (FTA). There could be assorted reasons why a business would apply for VAT deregistration in UAE. However, such reasons are needed to fall under the conditions defined […]
Latest Amendment of VAT in the Designated Zones
FTA has issued cabinet decision No. 88 of 2021 to update the provisions related to specific Zones stipulated in Article 51 of the executive regulation of Federal Decree-law No. 8 of 2017 on value-added tax by inserting additional sub-clauses to clause five and adding a new clause 7 with an effective date of 30 October 2021. […]
