UAE Subsidiaries of Foreign Companies: Tax, Accounting, and Reporting Requirements
A practical guide to pre-incorporation planning, Corporate Tax, VAT, bookkeeping, transfer pricing, management structure, and head-office reporting for foreign-owned entities in the […]
Simplify Your Business with Wafeq E-Invoicing and Accounting Software in UAE and KSA
Managing your business finances can be a daunting task, especially when juggling multiple responsibilities. For small business owners and accountants in the […]
What is a Tax Agent in the UAE?
In the UAE, businesses face complex and evolving tax regulations. A Tax Agent acts as a trusted advisor, ensuring compliance with Federal […]
FTA Grants Grace Period to Update Records and Waive Penalties
Grace Period Announced for Updating Tax Records in the UAE The UAE’s Federal Tax Authority (FTA) has recently introduced a significant tax […]
Key Updates to UAE VAT Executive Regulations
Critical Changes Effective 15 November 2024 On 2 October 2024, the UAE Federal Tax Authority (FTA) issued Cabinet Decision No. 100 of […]
Administrative Penalties
The UAE tax legislations have established a comprehensive framework of administrative penalties for violations of tax regulations. These penalties, outlined in Cabinet […]
Avoid Costly Penalties: Update Your FTA Records Promptly
Keeping your tax records up to date with the Federal Tax Authority (FTA) is a legal requirement in the UAE. Here’s what […]
VAT Update: New VAT Treatment for Specific Electronic Devices
Implementing the Reverse Charge Mechanism for Mobile Phones, Computers, and Tablets. Effective from October 30, 2023. Cabinet Decision No. 91 of 2023 […]
Amendment of the VAT law
On September 2022 the UAE has issued the Federal Decree-Law No. (18) of 2022 (“the Amendment of VAT Law”) to amend some […]
Anti-abuse and transitional rules
Anti-abuse and rules The UAE’s Corporate Income Tax law include general anti-abuse rules that aims to identify any arrangement or transactions entered […]
Public Consultation on UAE’s Corporate Tax Regime
The UAE Ministry of Finance (MoF) recently published a public consultation document on the Corporate Income Tax (CIT) to outline policy background […]
VAT zero-rating on export of goods
The purpose of this article is to explain when exporters are eligible to charge a zero-rated VAT on export of goods from […]
Input VAT deduction for mobile phones and packages, made available to employees for business use.
The UAE Federal Tax Authority (“FTA”) published a new VAT Public Clarification (VATP028) that provides guidance on the recovery of input tax […]
UAE’s Corporate Income Tax
The UAE Ministry of Finance has announced that it will introduce a federal corporate tax on business profits effective for financial years […]
UAE tax penalties reduced and discounted
On April 28th, 2021, the UAE Cabinet issued Resolution No 49 of 2021 amending tax penalties and provides reduction, alternative calculations, and […]
The time frame for recovering Input Tax in the UAE
The Federal Tax Authority of the UAE (FTA) published a new VAT Public Clarification (VATP017) which provide an interpretation of the time-period […]
VAT registration of Sole Establishments
Brief A natural person (an individual) owning several sole establishments in the UAE needs only one VAT registration for all its sole […]
VAT-free special offers
The Federal Tax Authority of the UAE (FTA) published a new VAT Public Clarification (VATP020) which clarifies the “VAT-free” special offers where […]
How and When to recover VAT
In general, the VAT in the UAE should not be a cost to tax registered businesses. VAT incurred on business expenses and […]
Tax Invoice all you need to know
What is a Tax Invoice? As per the UAE VAT legislations, a tax invoice is a written, electronic (soft), or e-invoice document […]
Zero-rated and exempt supplies
The essential difference between zero-rated and exempt supplies is that businesses selling zero–rated goods or services can recover any VAT incurred on […]
VAT Deregistration in the UAE
What is VAT deregistration Deregistration enables VAT-registered businesses and individuals in the UAE to cancel their tax registration under certain conditions. Deregistration […]
Filing VAT returns
Once you have registered for VAT in the UAE, you are required to file your VAT return and make related VAT payments. […]
How can I pay my VAT returns?
You can pay your VAT returns in the UAE via a bank transfer, an exchange house transfer, a credit card, or E-dirham. […]
VAT Registration in the UAE
What businesses should do before registering for VAT in the UAE? Embed VAT in your business plan Start-ups and newly established businesses […]
Record Keeping for VAT
All tax registered, individuals and businesses in the UAE are required to maintain certain business records for a specified period of time. […]
VAT In the UAE explained
This article is to give a brief overview of the basic principles of the Value added tax in the UAE. What is […]
Claim VAT spent on your new residence
Where a UAE national owns or acquires land in the UAE on which he builds his own residence, he shall be entitled […]
Input VAT when to recover
VAT Planning An important aspect of VAT planning & implementation is to avoid overpayment of tax by recovering the VAT paid on […]
VAT on entertainment expenses. What is recoverable?
What are Entertainment expenses Entertainment is hospitality of any kind including: Accommodation Food and drinks Access to shows or events or trips […]
