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...

VAT went into effect on the 1st of January… What now?

The Value Added Tax (VAT) went into effect on the 1st January with a 5% VAT applying on the sale and purchase of most goods and services in the United Arab Emirates. This represents a major transformation for b...

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...

VAT guidance for Retailers

Last week, the Federal Tax Authority in the UAE published an infographic on "VAT guidance for Retailers". You can find all the information mentioned detailed below. Do I have to register for VAT? If your taxable turnover - the value of taxable goods and ...

Implementing VAT in your business

Last week, the Federal Tax Authority in the UAE published an infographic on "Implementing VAT in your business". You can find all the information mentioned detailed below. Should I be registered for VAT? ...