The Federal Tax Authority (FTA) has recently stated that the number of businesses registered for (Value Added Tax) VAT in UAE has increased to 312,000 since 2018. After the completion of two years since the implementation of VAT in UAE, the United Arab Emirates (UAE) has witnessed success and surpassed several developed countries over the…

VAT Consultants in UAE case study on vat registration

VAT Consultants in UAE As registered VAT Consultants in UAE, we are engaged with more than hundreds of happy customers providing VAT Services all over the UAE. In this case study, as VAT Consultants in UAE with our practical knowledge, we will learn the practical scenarios about VAT Registration in the UAE, we will discuss…

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)…

VAT on Educational Services in the UAE

The VAT on Educational Services in the UAE is applicable where the education services are provided not in accordance with the recognized curriculum by unrecognized institutions. Quality education is the primary requirement for the growth and development of any nation. Considering the relevance of education, most of the tax laws across the world provide relaxation…

EXPO 2020 Dubai and Impact of UAE VAT

EXPO 2020 Dubai and Impact Expo 2020 Dubai, the international business exhibition is going to be hosted in Dubai from 20th October to 10th April 2021. In this connection, a lot of questions that might arise in the mind of prospective participants of the 2020 Expo. This article provides a comprehensive understanding of the impact…

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…

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…

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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