Blogs & News

SAB will keep you posted about the latest news and updates!

Importance of Accounting and Bookkeeping in Businesses

Why Accounting & Bookkeeping is necessary for businesses? Accounting and bookkeeping is a very systematic and comprehensive recording of a financial transactions relating to any business.  Accounting helps the management of the company to be able to ascertain and understand the financial position of the business. With all accounting activities, the final report provided helps Read more about Importance of Accounting and Bookkeeping in Businesses[…]

Why should you choose to have a Tax Agent?

VAT in UAE is unquestionably recent to everyone and it has been implemented in UAE since the beginning of year 2018. The concept about certified tax agent UAE has been introduced to the businesses and organizations before the tax system was implemented. Federal Tax Authority (FTA) has explained the possible issues and difficulties that might arise and Read more about Why should you choose to have a Tax Agent?[…]

VAT Fines and Penalties in UAE

Federal Tax Authority (FTA) has approved the complete and final list of all the administrative VAT Fines and Penalties in UAE that will be imposed on businesses for violations of the VAT laws. Every VAT fine or penalty will be no less than AED 500. The complete and approved list of the administrative VAT fines Read more about VAT Fines and Penalties in UAE[…]

Procedure for VAT Returns Filing in UAE

Procedure For VAT Returns Filing in UAE

VAT Returns Filing in UAE All the businesses in UAE should file VAT returns with the Federal Tax Authority (FTA) on a quarterly basis. VAT Returns must be filed according to the specified dates and duration mentioned on the VAT Application or VAT Certificate, within 28 days from the end of the tax period. All Read more about Procedure For VAT Returns Filing in UAE[…]

VAT in UAE

New VAT Registration Deadline is April 30, 2018

The Federal Tax Authority (FTA) exempted businesses and individuals from administrative penalty for non registration of VAT, and now Federal Tax Authority (FTA) has extended the deadline by April 30, 2018. All the businesses in UAE who did not register till December 2017 has given a relief as FTA issued new VAT Registration deadline which Read more about New VAT Registration Deadline is April 30, 2018[…]

VAT Return Filing

How to file VAT Return in UAE

VAT Return  UAE Federal Tax Authority (FTA) has relieved the time duration of the first VAT Return filing in UAE. FTA has given a relaxation to the business with regards to the first VAT Return filing as the first VAT Return period is from January 1, 2018 to May 31, 2018 and then quarterly afterwards. Read more about How to file VAT Return in UAE[…]

VAT Registration Extended – FTA urge businesses to complete VAT Registration to avoid fines

The Federal Tax Authority (FTA) has urged all businesses sectors to complete their registration for Value Added Tax (VAT) purposes as soon as possible in order to avoid fines and penalties. The FTA confirmed that the registration process is continuing, and that other businesses who did not register to date should register immediately to avoid Read more about VAT Registration Extended – FTA urge businesses to complete VAT Registration to avoid fines[…]

VAT Record Keeping – VAT Accounting – VAT in UAE

VAT Accounting Since the VAT came into effect from this year, it is mandatory for every taxable person to maintain books of accounts under the VAT law. In addition to that the Federal Tax Authority (FTA) can ask for additional documents such as, Annual accounts details, General ledgers, Purchase day books, Invoices issued, Invoices received, Read more about VAT Record Keeping – VAT Accounting – VAT in UAE[…]

VAT’s Up – Any Questions?

Value Added Tax (VAT) came into effect from January 01, 2018 and VAT is very new for the people of UAE.  The sharp drop in the oil prices left no option for the GCC countries other than to look at the taxation model. After VAT implementation, there are a lot of questions popping up in Read more about VAT’s Up – Any Questions?[…]