company formation in Dubai UAE

Why Investors Choose Dubai for Setting up Business? Company Formation in Dubai: Dubai is a global trading hub and investment destination in various business activities such as trading, import, export, logistics, hospitality, event management, financial services, construction, etc. Once we are thinking about an investment in the business, the first place that comes to our…

VAT Refund in UAE

VAT Refund in UAE for New Residences Let us see if VAT Refund in UAE is applicable to Mr. Tarek, a UAE National, who is constructing a new home in Dubai. He has a detailed plan for the residence and has appointed multiple contractors to perform their roles. Most of the contractors appointed by Mr….

uae vat reconsideration

UAE VAT Reconsideration. In the United Arab Emirates (UAE), the Federal Tax Authority (FTA) is the regulatory body for UAE VAT Laws and takes charge of managing and collecting federal taxes and fines. Being aware of the tax laws is always beneficial to business organizations and individuals. There are situations where the taxpayers are not…

Penalty For Delay in VAT Registration in UAE

Case Study on Claiming Input Tax in UAE ZMG LLC, incorporated on 1st January 2019, is a trading company operating from Dubai.  As the company has taxable expenses exceeding the voluntary VAT Registration threshold of AED 187,500/ – it has voluntarily applied for VAT Registration in the UAE in August 2019. The company got registered…

reverse charge mechanism under uae vat law

Reverse Charge Mechanism (RCM) under UAE VAT Law is one of the tax treatments applicable to import on concerned goods and concerned services. In Reverse Charge Mechanism (RCM) under UAE VAT Law, the supplier does not charge VAT to the customer, instead, the buyer or end customer pays the tax directly to the government authority….

vat for education in UAE

VAT for Education in UAE As per the UAE VAT Law, VAT for education in UAE is zero-rated and some fall under the category of exemption. Let us discuss in detail regarding the VAT treatment on education services or VAT for education in UAE. As per Article 40 of the Federal Decree-Law No. 8 of…

E-Commerce Business in the UAE

Trade License for E-Commerce UAE With nearly half of the world’s population becoming a regular web user, the internet economy is providing companies with an essential source of growth. The E-Commerce UAE (United Arab Emirates) is one of the forefronts of digital space and online business in the world. Currently, the E-Commerce UAE accounts for…

eligibility to claim Input vat in uae

The Federal Tax Authority (FTA) in the UAE has issued a public clarification vide Number VAT017 discussing the time-frame for recovering the Input VAT by a taxable person. Through the publication clarification, the authority states that a taxable person shall become eligible recover Input VAT only in the tax period in which he receives a…

Initial Public Offering

Initial Public Offering (IPO), SMEs in the UAE can raise funds through IPO very soon that the SMEs in the UAE owned by the UAE nationals will be able to take Initial Public Offering (IPO) route in order to raise funds in the near future. With regard to SMEs opting for Initial Public Offering (IPO)…

VAT Deregistration case study

VAT Deregistration in the UAE Under the UAE VAT Law, businesses and individuals who have applied for VAT in UAE under the Federal Tax Authority (FTA) can opt for VAT Deregistration in the UAE in two different Scenarios. In the first instance, suppose you have registered for VAT in UAE and the minimum turnover AED…

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