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Understanding the Whole TAX Registration Process

Understanding the Whole TAX Registration Process

The UAE has been tax-free for long, and the imposition of VAT on goods and services is the recent inclusion in the whole spectrum. This tax is popularly known as Value Added Tax (VAT). The tax registration number (TRN) is the registration number allotted to a person...

ESR – Economic Substance Regulation- UAE

ESR – Economic Substance Regulation- UAE

Why ? The UAE introduced Economic Substance Regulations to honour the UAE’s commitment as a member of the OECD Inclusive Framework on BEPS, and in response to a review of the UAE tax framework by the EU which resulted in the UAE being included on the EU list of...

Outsourcing in Accounting

Outsourcing in Accounting

The main aim of a businessman is the expansion of the business. If the business grows, all the subsidiary factors will follow automatically. There is a whole lot of work that needs to be looked after in a business. Some of them are primary works and others are...

Work with the Right Tax Expert for VAT Return Services

Work with the Right Tax Expert for VAT Return Services

Filing of VAT returns is extremely important for a business entity in the UAE. It is one of the must-do activities that businesses cannot simply afford to miss in the land. The VAT return is an official document pertaining to VAT or Value-Added Tax that is to be...

Accounting Outsourcing: Credit more than you Debit

Accounting Outsourcing: Credit more than you Debit

Business is basically the rendering of goods and services, to make profit. Long gone are those days, when a service or good was exchanged in lieu of another good or service! Every business now finds its roots in monetary terms. If finance has become such an integral...

All You Need to Know About VAT De-registration in UAE

All You Need to Know About VAT De-registration in UAE

Tax De-registration is the provision for a registered taxable business or entity to cancel the VAT registration. It implies de-activation of the registration as well as the VAT number of the taxable entity. There are two conditions under which a business can apply for...

Federal Tax Authority approves tourist refunds

Federal Tax Authority approves tourist refunds

The Federal Tax Authority’s (FTA) Board of Directors has formally approved implementation of the tourist refund scheme at its fifth meeting, held on Wednesday at the Dubai ruler’s court. The meeting was headed by Shaikh Hamdan Bin Rashid Al Maktoum, Deputy Ruler of...

VAT: Beyond the first 100 days

VAT: Beyond the first 100 days

This time last year, many were sceptical about the implementation of value-added tax (VAT) in the United Arab Emirates, but on January 1, 2018, the country joined the global tax arena. The introduction of VAT was a landmark event, but what have we learnt in the first...

Key points about VAT registration in UAE

Key points about VAT registration in UAE

Khalid Ali Al Bustani, Director-General of FTA, urged business sectors to learn and understand key information, which has been identified based on the first period of VAT implementation, with the new taxation system coming into effect from January 1, 18