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

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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.

List of Items Taxed or Exempted under VAT

Exempted

Category Vat Rate
Air travel 0%
Basic/Preventive surgery 0%
Exam fees 0%
Fuel 0%
House rent 0%
Medical fees 0%
Medicines 0%
Public school books 0%
School fees 0%

Taxed

Category Vat Rate
Car 5%
Car rental 5%
Commercial rent 5%
Eating out 5%
Electronics 5%
Entertainment 5%
Grocery 5%
Hotel fees 5%
Insurance (Health/Auto) 5%
Jewellery 5%
Plastic surgery 5%
Private school books 5%
School uniform 5%
Smartphones 5%
Tenancy contract registration 5%
Watches 5%
Water + Electricity (Utilities) 5%
list-of-items-taxed-or-exempted-under-vat-in-uae

For any clarification on the above or how this is affecting your business and when your business need to register with the federal tax authorities,
just give us a call on +971-55971-6033 or book free consultation by visiting our website.