AT Registration in the UAE

Vat in the UAE is all set to hit the road by 1st January 2018; less than 3 months from now. VAT registration in the UAE is now open to all. To avoid legal penalties, you should complete your VAT registration on time. VAT Registration for businesses in the UAE has to be done through the…

company formation in free zone

Once you have decided to form your company in the UAE, the number of choices can be discouraging. As with all business essentials, it is very important that your choice of business structure is determined by the exact requirements of the business. Given below are the types of business structures available in the UAE: Free…

The Federal Tax Authority has now introduced an official Tax Website. The website enables you to know all about VAT in the UAE and through this portal, eligible businesses can register for VAT in the UAE. The same website provides an option to register for Excise Tax as well. VAT is expected to be introduced…

vat in uae

VAT is expected to be implemented in the UAE with effect from 1st January 2018. While the VAT Registration in the UAE awaits let us get clarity on how VAT Invoices should be maintained for every businesses in the UAE as per the latest information by the Federal Tax Authority (FTA). According to the  FTA,…

VAT Registration in the UAE

VAT Registration in the UAE For VAT registration in the UAE, entity should complete an online VAT Registration form which is expected to be available through Federal Tax Authority online portal by mid of September 2017. The Voluntary Registration can be started in third quarter of 2017 itself, however, it is mandatory to register in…

TAX agent in the UAE

In accordance with the Federal Law No. (7) of 2017 on Tax Procedures in the UAE Part Two of Chapter three describes Appointment of a Tax Agent, Tax Agent’s Registration procedure & conditions to be fulfilled for registering in the register of Tax Agents. Who is a Tax Agent? As per the definition under the…

Steps to be taken while implementing VAT in the UAE

In the UAE, VAT is expected to be implemented from 1st January 2018. The proposed VAT rate is 5%. VAT is one of the most common types of consumption tax found around the world. Value Added Tax is an indirect tax that is collected incrementally, based on the value added, at each stage of production…

Maintenance of books of accounts and necessary supporting and relevant records are highly essential requirements for proper management and control of the business operations. This will facilitate the correct receipt and payment of cash and other transactions entered by the company. It is mandatory to maintain the books of accounts under UAE company law and…

Value added tax

Value added tax (VAT) is a consumption tax that is charged on each stage of supply of goods and services. VAT is applicable for restaurant services as well in the UAE. In the UAE, VAT is likely to be introduced from 1st January 2018 and the rate is expected to be 5% for restaurant activity…

  a.Description of specific assets, their location, and if applicable, such specific identification as serial or other control/code numbers. b.To keep better control over fixed assets, fixed assets register must be maintained at each location. c. Cost, acquisition date, and date placed in service (when different from acquisition date) d.Fixed assets cost includes acquisition cost…

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