Steps to Identify the Stockpiler Under Excise Tax in UAE

The Federal Tax Authority (FTA) has announced new rates for excise tax in the UAE and has brought in more products to the purview of Excise Tax such as Sweetened drinks ( Includes Concentrates ,powders, gel, extracts or any form that can be converted in to a sweetened drink), Electronic smoking devices and tools and…

Applicability Of Vat On Healthcare Service In Uae

VAT on Healthcare Services in UAE VAT on healthcare service in uae is one of the sectors where the industry may choose a wrong rate of tax. Because in certain cases supply of healthcare services will be zero rated; whereas in certain other cases, supply of Healthcare Services will be standard rated; ie 5%. Federal…

How to claim vat refund for business visitors in uae

6 Steps Procedure to Refund VAT for Business Visitors in UAE The UAE government has published a VAT refund scheme which enables businesses/ business visitors to claim VAT paid on the purchase of goods and services incurred in UAE. A non-government foreign business may obtain a refund on VAT paid in UAE by submitting the refund…

general trading license in uae

General Trading License in UAE | How can you get a General Trading License in UAE? Dubai is home to more than 200 nationalities, and it holds the title of the world’s most cosmopolitan city. Dubai is not only a place to run business, but also to share ideas, experiences and inspiration in an environment…

company liquidation in dubai

Company Liquidation in Dubai: What are the 5 Checklists Before Liquidation? Company Liquidation in Dubai and other Emirates of the UAE is mandatory for any kind of businesses if they have opted to stop their operations. Cancelation of licenses and all the permits which are related and associated with the business must be cancelled too….

Economic Substance Regulations in the UAE

Is Economic Substance Regulations in the UAE applicable to your business? Economic Substance Regulations in the UAE is applicable to all licensee (natural & juridical person) carrying the relevant activities in UAE including the licensee in Free Zone and Financial free zone. The scope of the Economic Substance Regulations in the UAE has made it…

What does it mean VAT on Sale of Business as going Concern? Sale of an asset is a taxable supply under the UAE VAT Law. What about the applicability of VAT on the sale of a business or transfer of a business as such?  The Federal Tax Authority (FTA) has issued a public clarification with…

VAT treatment of Options and Option Premiums is the latest public clarification issued by the Federal Tax Authority (FTA) vide clarification No: VATP014. This article provides an insight into the taxability of options and option premiums in the light of the above-mentioned public clarification issued by FTA. What is an options and options premium? A…

What is Internal Audit? As per the definition given by IIA (Institute of Internal Auditors)- Internal audit is to provide the independent assurance that an organization’s Governance- Internal control processes- Risk management are operating effectively. In other words, we as financial auditors in UAE providing auditing service in UAE will help businesses to attain their objectives by…

economic substance regulations

Economic substance regulations are the new cabinet decision enacted by the United Arab Emirates (UAE) ministry through the Cabinet Decision No.31 on 30th April 2019. It provides the criteria of Economic Substance requirements on certain category of transactions in the UAE. To whom the Economic Substance Regulations is applicable in the UAE? Businesses with the…

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