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 in uae

Economic substance regulation is 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 Regulation is applicable in the UAE? Businesses with following…

Reimbursement and disbursement of expenses in UAE VAT, whether taxable or not, is always an uncertainty among the business community from the date of implementation of VAT in the UAE since 1st January 2018. The Federal tax authority (FTA), the governing body of the UAE VAT, recently released a public clarification wide No VATP013. The…

As per Article 67 of the UAE VAT Law, a taxable person shall issue a Tax Invoice within 14 days of the Date of Supply. Some of the taxable persons are under the impression that they can always make the tax invoice after 14 days from the date of delivery of goods or from the…

The Federal Tax Authority (FTA) has recently issued a user guide for refund on Vat Paid for Goods and Services Connected with Dubai Expo 2020. The issuance is at par with the Cabinet Decision No. 1 of 2019 on the ‘Refund of Value Added Tax Paid on Goods and Services Connected with Expo 2020 Dubai’….

VAT Refund Scheme for UAE Nationals VAT Refund for UAE National is a special refund scheme available in the UAE VAT law for supporting the UAE Nationals. There are various VAT Refund Schemes available under the UAE Vat Law wherein even unregistered persons can also get benefit out of it. Vat Refund Scheme for UAE…

Excise tax registration amendments Amendment to your Excise Tax Registration is necessary if there is any change on the content of your application already submitted or nature of business is amended subsequently. Complying to the rules and regulations laid by the Authority is a mandate because the Tax Authority can carry out a Tax Audit at any time when…

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…

VAT Audit in UAE

It’s almost a year since this word, ‘VAT Audit’ in UAE, has found its way in the common world of the business communities in UAE. By February 28th 2019, it is expected that at least 90% of the registrants will complete their first tax year. A tax year refers to the 12-month period covered by…

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…

Terms & Condition | Privacy Statement

© 2019 Emirates Chartered Accountants Group | Web Design | Alwafaa Group

STAY CONNECTED:  

Close x

Show Buttons
Hide Buttons