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….

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….

Reclaiming VAT on expenses in the UAE Case Study

In this case study we will learn about reclaiming VAT on expenses in the UAE along with the applicable provisions of the UAE VAT Law. Facts of the case: ABC LLC is a trading company having its operations in Dubai. On 28th March 2019 they have purchased goods worth AED 1 Million (plus 5% VAT)…

Excise Tax Deregistration

The Registration for Excise Tax in the UAE has started from September 2017.  All Taxable entities are entitled to register for Excise tax through the FTA’s online portal. But if a taxable entity who has registered earlier and now, is no longer dealing with excise goods can apply for Excise Tax deregistration. What is Excise…

Business Set Up in Abu Dhabi now a days is very easy and smooth. The Department of Economic Development (DED) in Abu Dhabi introduced a number of new methods to help the business owners to launch and expand their business operations without spending much time in formation process and administration processes. Company Formation in Abu Dhabi…

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…

form company formation

In Sharjah Media City (Shams Free Zone) an emerging free zone in UAE through Emirates Chartered Accountants Group. They have started issuing free zone licenses in different sectors. SHAMS, Sharjah Media City is located in the emirate of Sharjah, which is launched in January 2017 with a vision to be a world-class hub for media and creativity…

Free zones in UAE are also known as Free Trade Zones depicting that they are structured to boost the international business economy of the country. Free zones in UAE provides 100% ownership, Repatriation of Capital & Profits, TAX Exemption and many other facilities The kind of businesses the free zones in UAE  largely offer ranges…

The Federal Tax Authority (FTA) has introduced a form 211 – VAT voluntary disclosure form recently. It will help the taxable persons to rectify the errors they committed in their UAE VAT Form 201 which is already filed. It is an option given by the FTA for the tax periods to voluntarily disclose the errors…

The UAE Cabinet, chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has made significant and progressive decisions for foreign workers who serve the private sectors with regard to their bank guarantee, insurance and visa provisions. What are the most important decisions…

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