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Now this has been one year since the VAT has been implemented in UAS, KSA & Bahrain (since 01-01-2019). Since last two months, Federal Tax Authority is requesting to all business and individuals who are registered for Value Added Tax, to update their latest information. Following is the lists of documents which the Federal Tax Authority is requesting to be updated:

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4 Things to Consider When Hiring an Accountant in Dubai

It’s extremely important for any business owner or general entrepreneur to have a reliable accountant on their side working for their company’s best interests and making sure you see to your fiscal limits and overall potential on a regular basis.

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6 Step Guide for Setting up a New Business in Dubai

If you are thinking of a new business set up in Dubai, the time is indeed ripe, considering the city has been buzzing with latest infrastructures and developments that allow it to be favorable for business owners to venture into a new business. However, before venturing into any kind of business, whether you are a resident of Dubai or looking for offshore company setup, you need to follow a gradual process to set the ball rolling for your business.

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Why It is Important to Outsource Vat Return Services in Dubai

VAT or value added tax is something that every business whose turnover is over AED 375,000 needs to charge nowadays. All the customers are bound to pay VAT along with the actual price of the products or the services that they have bought or taken. Hundreds of service providers and sellers all over Sharjah, Dubai & Ajman are needed to register for VAT and file VAT return statements.

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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.

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Beware of fraudsters: Organisations in UAE doesn't require to disclose their financial information to any person

The Federal Tax Authority (FTA), has requested to all tax registered business for not to disclose their financial data or other information to any person or organisation that is not authorised to do so. Tax authority is emphasising to ignore any message, email or telephone call received by the tax person asking for their registration details.

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Beware of fraudsters: Organisations in UAE doesn't require to disclose their financial information to any person

Federal Law No. (2) of 2015 on Commercial Companies

In the UAE it the Federal Law No.2 of 2015, chapter one General Provisions for the Companies, article 27 Accounts of the company states the followings...

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Federal Law No. (2) of 2015 on Commercial Companies

Federal Tax Authority Guidelines on Penalties

Recently, this has seen that the business which are having the penalty due to not filling their VAT return on time resulting daily penalty which is occurring for not making the payment out standing liability on and before the dead line. There are so many gossips or rumours are going around now these days in the market that VAT registered business do not need to pay the penalty as the FTA is going to remove these penalties...

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Filing Your Tax Return

As per recent finding, this has been revealed that many tax registered companies and individuals are in the impression that they do not have to file their VAT return to the authorities or...

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Digital Tax Stamping on Tobacco Products

FTA director general, Khalid Ali Al Bustani, announced on Augast 6, 2019 that from November 1, 2019, there is new VAT tax rule on two products. Federal tax authority is implementing the second phase of the “Marking Tobacco and Tobacco Product Scheme” and eventually this will cove the waterpipe tobacco and electric cigarettes...

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You should know List of Items Taxed or Exempted under VAT in UAE

Simple VAT effect on UAE resident and tourist not just the individual or business which are registered This is the list of that shows which house holds falls in the category of standard rate (5%) Value added tax or zero rate...

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