News headline 1 : : The UAE's Ministry of Finance has listed out a number of entities that are not required to register for Corporate Tax. News headline 2 : : The ministerial decision on the Exception from Tax Registration will apply to government and government-controlled entities, extractive businesses, and non-extractive natural resource businesses. News headline 3 : : Additionally, a non-resident person will not be required to register for Corporate Tax if they earn only UAE-sourced income and do not have a Permanent Establishment in the UAE. News headline 4 : : Meanwhile, federal government, UAE government departments and authorities, and other public institutions, do not require to register under Federal Tax Authority as long as they continue to meet the conditions for tax exemption. News headline 5 : : Federal Tax Authority ramps up its efforts by expanding inspection visits by 104% in six months. News headline 6 : : Dubai Financial Services Authority Introduces Whistleblowing Regime News headline 7 : : Big update on UAE Corporate Tax. News headline 8 : : Regular Auditing and maintaining accounts have a greater contribution towards the successful running of a business. The lack of proper books of accounts and regular auditing often results in the business owners continuing to run the venture with the impression that it is going on profitably, while it might be running in loss. The realization comes late and the resultant damages are often irreplaceable. This is where a pragmatic approach to External Auditing services in UAE becomes inevitable. Every business needs the service of professionally qualified and experienced External Auditors in UAE to look into their accounting activities.

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Important announcement: Bank details are now mandatory for VAT registration in UAE.

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  • Important announcement: Bank details are now mandatory for VAT registration in UAE.

Recently, FTA has made the bank details and other information mandatory for company’s VAT registration. Below are the list of documents required to do the VAT registration of company:

  • Director/ partner’s copy of passport
  • Director/ partner’s copy of Emirates ID
  • Copy of Trade license
  • Copy of MOA
  • Copy of authorisation letter
  • Company’s bank account details
  • Sales invoices of Value more than AED 187,500 in case of voluntary registration and AED 375,000 in case of mandatory registration (one or many)
  • Purchase invoices of Value more than AED 187,500 in case of voluntary registration and AED 375,000 in case of mandatory registration (one or many)
  • Company letter head requesting for the registration to FTA.
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