The Federal Supreme Court has announced the method of calculating late payment penalties on voluntary disclosure.The judgment is significant because the effective date of penalty computation has been confirmed to…
VAT-free special offers
VAT registered businesses should not advertise taxable goods or services as free of VAT or sell such goods or services without accounting for 5% VAT, except where the supply qualifies…
FTA VAT Guidance on E-Commerce
FTA has issued guidance about the VAT treatment of supplies of goods and services through electronic means, such as over the internet or a similar electronic network. This Guide…
UAE VAT Refund for Business Visitor/ Foreign Business – For Businesses from outside UAE paying UAE VAT
Overview UAE Federal Tax Authority (FTA) has introduced Business visitor VAT refund to help foreign businesses / business visitors check if they are eligible to make a claim for refund…
VAT Public Clarification – Zero-rating of export of services
This Public Clarification provides a high-level clarification of the FTA’s view of the zero-rating conditions in Article 31(1)(a) of the Executive Regulation relating to the residency and location of the…
JAFZA – Jebel Ali Free Zone Authority
JAFZA or Jebel Ali Free Zone is the world’s largest free zone. JAFZAstarted its operations in the year 1985 and is home to more than 100 of the Fortune Global…
Cybercrime – Are you immune to data breach?
A lot of businesses manage almost all of their transactions through digital platforms and considering the sheer volume of data exchanged every minute, Data Security should be the top…
International Tax Planning
Background Due to globalization, companies have been operating businesses through branches and subsidiaries across the globe to maximize the profits and to minimize their taxes. Some of the Multi-National Companies…
VAT Administrative Exceptions
Following is an extract from the guidance issued by FTA in regards to Administrative Exception (March 2020): 1. Brief overview of this user guide This guide is prepared to help…
How to be ready to handle VAT audit from FTA in UAE?
Tax systems have been diversified and modified across the globe over a period of time. In most of the modern tax systems VAT (Value Added Tax) is very popular and…
VAT Deregistration of Stockpilers
This Public Clarification provides guidance on situations where stockpilers may be allowed to deregister where less than six months have passed since their effective date of registration for Excise Tax…
Corporate tax planning for businesses in UAE
Starting a business and taking off is a huge achievement, along with it setting up the finances is crucial to determine the success or failure of the enterprise. Corporate tax…