VAT on Commercial Properties in the UAE

As clarified by the FTA, leased commercial properties in the UAE are not considered a supply during its sale; therefore, it will not be taxable. As mentioned by the governmental entity,  VAT has a limited impac...

Filing for VAT Returns in the UAE

The federal tax authority just posted an infographic on how to file for VAT, consisting of four steps. Before filing for VAT, companies should make sure they have all tax returns requirements: Value of supplies of goods and services made within the per...

Tax Reporting in the UAE

Yesterday was the first day that the FTA enabled companies to complete their first ever tax report.  This was only open to companies with a Monthly Tax Period. Along with the opening up Tax Reports, the FTA ...

Federal Tax Authority’s VAT Workshop

Last week we attended a VAT Session with the FTA, and below are some of the takeaways that might be related to your business. So far, 300,000 UAE businesses have registered.  There are a number of busine...

Government crackdown on companies taking advantage of VAT

Prior to the implementation of VAT, retailers were urged by the government not to increase prices in the name of VAT. But that hasn't been enough till now to prevent businesses from using the new VAT law as a pretext to increase their prices. Of course, UAE re...

Registering for VAT…

Last week, the Federal Tax Authority in the UAE published an infographic on “Registering for VAT”. You can find all the information mentioned detailed below. Should you register for VAT? ِA natural or leg...

UAE to publish VAT draft executive regulations soon

The UAE's Federal Tax Authority is about to release the executive regulations, while the draft is currently being circulated. On the other hand, VAT registration deadlines are nearing in, with November 30th bei...

Excise tax law and VAT in the UAE

After KSA, UAE is the second Gulf country to publish the law on Excise taxes. Excise goods affected by this law include tobacco, energy drinks, and carbonated drinks. The excise tax rates to be imposed are 100% on tobacco products and energy drinks, and 50% on...