Federal Tax Authority (FTA) has come up with a guidance to explain the details of Raqeeb Programme – Whistle Blower Program for Tax Violations and Evasion. This initiative is to…
Corporate Tax on Profit Services in UAE
Whether you’re a novice in the business industry or you’re an established business owner, it’s a wise idea to hire a tax agency in Dubai, especially with the new regulations…
Know more about UAE Corporate Tax – Workshop
This page is an audio-video workshop presentation of UAE Corporate Tax (Based on the FAQs by Ministry of Finance, UAE on 31 Jan 2022) – presented by Mr. Balaram Vuchidi,…
Detailed Guidance on Voluntary Disclosure – VAT & Excise Tax
FTA has released a detailed guidance note on Voluntary disclosure by addressing the questions like when should a tax registrant submit a voluntary disclosure, what are the details that…
Did you pay VAT amount to a wrong GIBAN or wrong VAT account number?
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…
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…
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…
VAT on Artists and Social Media Influencers (SMI) in United Arab Emirates (UAE)
Federal Tax Authority (FTA) has issued a Tax Bulletin in relation to Individuals who make supplies in their personal capacity as who are known as artists which include performers, singers,…
VAT implications for supply of residential property in UAE
A) What is Real Estate? Real Estate – property consisting of land or buildings including Area of land over which rights or interests or services can be created Building or…
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