The Federal Tax Authority has issued Decision No. 8 of 2024 – Issued 1 November 2024 – (Effective from 1 January 2025) outlining the mechanism for correcting errors or omissions…
Understanding VAT Administrative Exceptions: Categories, Applications, and Requirements
What is a VAT Administrative Exception? A VAT Administrative Exception is a mechanism that provides registrants with concessions/exceptions allowed by the Federal Decree-Law No. 8 of 2017 on Value Added…
How to Utilize the Grace Period for Tax Record Updates
If you are VAT-registered and any circumstances arise that affect the tax records you provided to the FTA during your registration, you are required to update your records and notify…
Understanding UAE VAT: What’s Taxable and What’s Exempt?
Value Added Tax is an indirect tax which is levied on the supply of goods and services. There are only a few items exempted from VAT in the UAE. Few…
Key Changes in UAE VAT Executive Regulation: Insights from Cabinet Decision 100 of 2024
Recent Amendment to UAE VAT Executive Regulation of Federal Decree Law No. 8 of 2017 on VAT under Cabinet Decision 100 of 2024. The UAE has recently made significant amendments…
VAT Treatment of Compensation Payments in the UAE
In the normal course of business, people might have to deal with compensation-type payments due to various situations or as per the terms of contracts. Compensation-type payments refer to payments…
VAT treatment of the supply of E-Commerce services in UAE (Electronic Services)
In UAE, the E-commerce sector is now a fast-growing industry, and many companies are setting up E-commerce businesses in UAE. This helps the customers to buy goods or avail services…
VAT Public Clarification on Manpower Vs Visa Facilitation Services
The Federal Tax Authority (FTA) issues public clarifications to provide guidance on specific VAT treatments. These clarifications help businesses understand how to apply VAT rules correctly to different types of…
VAT Treatment in the Designated Zone in UAE
A Designated Zone is an area specified by a Cabinet Decision as being a “Designated Zone”. It can also be said that, a Designated Zone is a VAT free Zone…
VAT Registration: A Step-by-Step Guide for Businesses
The UAE Resident businesses make taxable supplies in the country are required to register for VAT if the value of their taxable supplies and imports in the last 12 months…
VAT Insights : VAT Registration, Return Filings, Deregistration, Amendments, FTA Audit and CT Registration Challenges
Spectrum Auditing conducted webinar on “VAT Insights : VAT Registration, Return Filings, Deregistration, Amendments, FTA Audit and CT Registration Challenges” on 7th June 2024. You can watch the webinar recording…
VAT Insights: VAT Registration, Return Filings, Deregistration, Amendments, FTA Audit and CT Registration Challenges
Join us for an exclusive webinar on VAT compliance, where we delve into the intricacies of Value Added Tax (VAT) registration, return filings, deregistration, amendments, FTA audits, and challenges related…
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