The recent Public Clarification issued by FTA is intended to shed light on the treatment of ‘public transportation’ and its interpretation for the purposes of identifying the qualifying means of transports such as buses or trains which can be treated as zero rated under the UAE VAT Law. Applicable Provisions of the Law: As per…

Vat Return Filing in UAE | Latest Updates on UAE VAT Return Filing Presently the VAT Return Filing Period for most of the companies are on a quarterly basis and for businesses having a higher turnover is having their VAT Return Filing period on a monthly basis. The Federal Tax Authority (FTA) is now planning…

With the introduction of Value Added Tax – VAT in the UAE, among all other schemes Tax Refund Scheme for Tourists has been the most awaited one.  UAE has been a destination for millions of tourists especially Dubai, which is one of the Emirates of the UAE well known for its Tourist Attraction, Business Hubs,…

Recently the Federal Tax Authority issued some guidelines on tax treatment and tax procedure for better understanding of the UAE VAT law. This blog will explain the recent amendments, clarifications and guidance on tax treatment issued by FTA which might have an impact on your business. The recent updates are related to the following: Exchange…

Non-Recoverable Tax on Entertainment Services

As per the UAE VAT law tax paid on most of the business expenses can be recovered. At the same time tax paid on certain expenses cannot be recovered, those are called non-recoverable tax. As per the Article (53) of Executive Regulation of the UAE VAT law, VAT paid on certain expenses are non-recoverable tax…

Introduction on compensation payments: In the normal course of business, sometimes there will be payments in the nature of compensation for any loss, omissions, breach of contracts etc. Whether the payments on such compensation nature are taxable under the UAE VAT or not? Recently the FTA has issued a public clarification (VAT P 001) related…

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…

As far as VAT Registration is concerned, the Federal Tax Authority (FTA) has extended the VAT Registration cut-off date. The companies which were required to apply for VAT Registration in the beginning of the year for VAT has extended until April 30th 2018 without any penalty. The FTA is sure to get bumpy on those businesses…

The first value-added tax (VAT) return has given a cool off time for filing by the Federal Tax Authority (FTA) for easing reporting and compliance pressure on companies, especially SMEs. All companies must log onto the FTA’s website and check the tax period under their profile. Some of the companies have been given one month as…

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