Have you faced a situation where you paid amount to a wrong GIBAN or wrong VAT account number? If you make the payments to wrong GIBAN you may follow…
Dubai World Trade Centre Free Zone (DWTC)
{NOTE: Kindly note that the authenticity of the below article is limited to the day of publishing this blog. As policies and rules pertaining to each freezone keeps changing from…
Dealers in Precious Metals and Stones (DPMS) Report
DPMS Report (DPMSR) for Dealers in Precious Metals and Stones (DPMS) on the goAML portal in UAE Introduction of DPMS Report (DPMSR) on goAML portal: On 2nd June 2021,…
Abu Dhabi Airport Free Zone
{NOTE: Kindly note that the authenticity of the below article is limited to the day of publishing this blog. As policies and rules pertaining to each freezone keeps changing from…
When and how to adjust VAT relating to bad debts in VAT returns
{You can find the previously published blog with the same title explained in detail, here at: https://www.spectrumaccounts.com/adjustment-on-account-of-bad-debt-relief/} When and how to adjust VAT relating to bad debts in VAT returns…
Can we claim VAT paid on mobile phones, mobile bills, airtime, data packages provided to employees in UAE?
Issue Many businesses enter into agreements with telecommunication service providers to make mobile phones (“Phones”), airtime (“Airtime”) (i.e. call minutes) and data packages (“Packages”), available to their employees to perform…
An Overview of Two Pillar Solution (Global Minimum Tax)
The Two-Pillar Solution is comprised of Pillar One and Pillar Two. Pillar One aims to ensure a fairer distribution of profits and taxing rights among countries with respect to…
What is the impact of Global Minimum Tax (GMT) on companies in UAE?
Below, we shall discuss a plethora of questions relating to Global Minimum Tax and its impact on UAE Question) How will the Two-Pillar Solution under Global Minimum Tax make…
How to set up business within 15 minutes in UAE
A) An investor can apply online to start his/her own business on the UAE mainland within 15 minutes at the most. The UAE Government introduced the Bashr service to start…
Invest in the United Arab Emirates
Let’s find out why you can choose UAE as your investment destination in the following sections: Here is a short video introduction on why UAE matters when it comes…
Why Dubai is an ideal destination for investment?
We will give you several reasons as to why Dubai is an ideal destination for investment… watch the video below and read the points below which will give you more…
When to de-register VAT in UAE
Question:- When to de-register VAT in United Arab Emirates (UAE)? Answer:- If your taxable supplies (or) taxable expenses are less than AED 375,000 during the last 12 months…
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