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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...

A business can never be imagined without money. In the very definition of business, it is stated that it is any activity that is done with the objective of earning profit in monetary terms. When money is vital for any business, then it is a no-brainer to keep a proper...

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...

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...

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...

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...

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...

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...

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