The Board of Directors of Federal Tax Authority, FTA, on Monday discussed Value Added Tax, VAT, refund scheme for foreign businesses at its 7th meeting, headed by H.H. Sheikh Hamdan…
VAT clarifications – Farms and farm houses
Issue Article 44 of Cabinet Decision No. 52 of 2017 on the Executive Regulations of the Federal Decree-Law No. 8 of 2017 on Value Added Tax (“Executive Regulations”) describes the …
Greater Internal audit efficiency with RPA
The best way to determine where RPA can deliver maximum return on investment (ROI) is to take a structured approach to identify, evaluate, categorize and prioritize automation candidates. For example,…
Changing email id used in VAT registration
Changing email id used in VAT registration An Online user can change their account email address, where necessary. The process is divided into the below steps: Verifying the new email…
Whether used cars were subject to VAT?
The Federal Tax Authority (FTA) has called on retailers to verify that used cars were subject to the value added tax (VAT) before applying the Profit Margin Scheme, during an…
Best Audit firms in dubai
As per the topaccountingdegrees.org the 5 characteristics of best audit firms are as below and Spectrum auditing satisfy all the qualities. Our qualities are: Experienced Work force Ability to understand different…
Supply Demand and economy
Is demand or supply more important to the economy? Supply and demand are both key to economic activity. The two influence each other and impact prices of consumer goods and…
Biannual TAX return will start next month
The Federal Tax Authority (FTA) will introduce a new biannual tax period next month for certain sectors, said Khalid Ali Al Bustani, director-general, FTA. “Next November, a new biannual tax…
VAT on Insurance
Insurance and VAT The VAT treatment of insurance and related services in the UAE General principle The general principle applicable in the Law and Executive Regulations is that all insurance…
VAT REFUND SYSTEM FOR TOURISTS
Upon leaving the UAE, tourists will be able to reclaim taxes paid on their purchases in a fully electronic system, characterised by its simplicity, accuracy and speed, without any human…