The Federal Tax Authority (FTA) of the UAE regulates taxes, making sure that companies are in line with Value Added Tax (VAT), corporate tax, and excise tax. FTA registration is necessary for companies doing business in the UAE, as it enables them to meet tax…
Corporate Tax Registration in Dubai, UAE UAE has rolled out corporate tax to meet international tax standards and spur economic growth. Companies doing business in the country are now required to adhere to corporate tax rules by registering with the Federal Tax Authority (FTA). Here…
The education sector in the UAE will experience significant changes under VAT, as certain goods and services provided by educational institutions will now be subject to 5% VAT. Educational institutions may have concerns about how VAT impacts their operations. To address these concerns, let’s explore…
In our previous article, ‘Steps to Submit e-Guarantee in FTA Portal’, we discussed how to submit an e-guarantee in the FTA portal. Once the e-guarantee is submitted and approved, goods can be cleared through Customs. E-guarantees are required in certain import scenarios by non-registrants, such…
Education is a crucial sector in the UAE, and with the introduction of VAT, it has also been affected by the additional tax on certain goods and services provided by educational institutions. Here’s a quick guide to the VAT rates applicable to the education sector: 0%…
As a consumer in the UAE, you are aware that VAT has been introduced, and you have paid VAT on many purchases since its implementation. However, there have been instances where suppliers have wrongfully charged VAT, even though they are not authorized to do so.…
The UAE has long been known for its business-friendly environment, particularly its free zones, which offer companies attractive benefits such as tax exemptions, full foreign ownership, and simplified regulatory frameworks. Historically, these benefits have made the UAE free zones a hotspot for foreign investment and…
Overview of UAE’s New Corporate Tax Regime and Small Business Relief. Effective from 1 June 2023, the UAE introduced a new corporate tax regime, requiring taxpayers to pay corporate tax on their earnings. To support small businesses, the UAE government has launched a program called…
The reverse charge mechanism (RCM) in the UAE is a pivotal component of the VAT system, particularly affecting transactions involving electronic devices. Under the RCM, the responsibility for paying VAT shifts from the supplier to the recipient of the goods or services. This mechanism is…
Article 60 of the UAE Corporate Tax Law outlines the procedures for assessing corporate tax and imposing penalties. As new decrees and regulations are issued by the Federal Tax Authority (FTA), it is crucial for businesses to stay informed about any updates or changes. Corporate Tax Assessment…