The Bahrain VAT law was released on 09th October 2018, by the Ministry of Bahrain. Bahrain VAT is all set to be implemented from 1st January 2019 at the rate of 5%. The Executive Regulations for VAT in Bahrain is expected to publish shortly. All the companies in Bahrain with turnover exceeding BHD 5 Million…

The Ministry of External Affairs has recently issued an advisory note on Registration of ECNR Passport holders for Indians who are travelling on employment | work in 18 ECR Countries from India. From 1st January 2019, for all Indians who are holding ECNR passport, can register before flying through an Indian government portal This initiative has…

The UAE Cabinet has now recently announced on the approval of a long-term visa system. The main objective of this long-term visa system in the UAE is to make UAE an ideal place for investors to do their businesses. Who will be able to avail this long-term visa in the UAE? Investors Entrepreneurs Special Talents…

The recent Public Clarification issued by FTA is intended to shed light on the treatment of ‘public transportation’ and its interpretation for the purposes of identifying the qualifying means of transports such as buses or trains which can be treated as zero rated under the UAE VAT Law. Applicable Provisions of the Law: As per…

Vat Return Filing in UAE | Latest Updates on UAE VAT Return Filing Presently the VAT Return Filing Period for most of the companies are on a quarterly basis and for businesses having a higher turnover is having their VAT Return Filing period on a monthly basis. The Federal Tax Authority (FTA) is now planning…

New Visa Rules in the UAE The Federal Authority for Identity and Citizenship (FAIC) has announced major transformations this year in the UAE’s visa structure. Changes that supplement with the new visa rules in the UAE are all set to bring social and economic prosperity in the region. Who will be benefitted with the new…

Company Liquidation in DMCC calls for termination or winding up the operations of businesses. To proceed with DMCC Company Liquidation there are a few considerations to be taken. Considerations that should be taken are settling the businesses property, assets and its liabilities. When can you apply for Company Liquidation in DMCC? As per the Implementing…

With the introduction of Value Added Tax – VAT in the UAE, among all other schemes Tax Refund Scheme for Tourists has been the most awaited one.  UAE has been a destination for millions of tourists especially Dubai, which is one of the Emirates of the UAE well known for its Tourist Attraction, Business Hubs,…

Recently the Federal Tax Authority issued some guidelines on tax treatment and tax procedure for better understanding of the UAE VAT law. This blog will explain the recent amendments, clarifications and guidance on tax treatment issued by FTA which might have an impact on your business. The recent updates are related to the following: Exchange…

Non-Recoverable Tax on Entertainment Services

As per the UAE VAT law tax paid on most of the business expenses can be recovered. At the same time tax paid on certain expenses cannot be recovered, those are called non-recoverable tax. As per the Article (53) of Executive Regulation of the UAE VAT law, VAT paid on certain expenses are non-recoverable tax…

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