Get ready for the transition to EmaraTax UAE Federal Tax Authority has introduced EmaraTax. Your existing FTA account details will automatically be migrated to EmaraTax along with any draft returns…
VAT Registration – Requirements Check List
Value Added Tax or VAT in UAE has brought changes in the business environment by emphasising the need to prioritise the way book keeping is handled by a company. VAT…
Clarification on supply of gold & making charges to be levied by the jewellers
Many a times gold jewellers receive consideration for supply of gold & making charges together. The issue faced by tax payers is on applicability of VAT legislation on making charges.…
Whistle Blower Program for Tax Violations and Evasion
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 are…
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…