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UAE-reduces-penalties-on-VAT-excise-tax

COVID-19: UAE reduces VAT and Excise Tax Penalties

UAE reduces VAT and Excise Tax Penalties to encourage taxpayers to reassess their past VAT returns, rectify the errors, and come out clean in the eyes of law.  VAT fines and penalties relief To discourage delay in payment of taxes, the UAE Government had earlier kept severe penalties ranging from 6 percent of the unpaid Read more about COVID-19: UAE reduces VAT and Excise Tax Penalties[…]

Benefits of outsourced accounting services in Dubai

Benefits of Outsourced Accounting Services in Dubai

The benefits of Outsourced Accounting Services in Dubai are enormous. Most of the businesses in the UAE are hiring accounting companies to handle their accounts and books. There are many sound reasons behind outsourcing accounting services in Dubai. Why businesses should outsource accounting services? Small and medium-sized companies especially the start-up companies in UAE cannot Read more about Benefits of Outsourced Accounting Services in Dubai[…]

VAT-for-foreign-companies-selling-through-amazon-in-uae

VAT for Foreign Companies selling through Amazon in UAE

VAT for foreign companies selling through amazon in UAE is mandatory. Businesses that are outside UAE and wish to sell in UAE through online platforms like Amazon or Noon, they must register their companies in FTA and get the tax registration number before making any sales in UAE.  If you are a non-UAE resident selling Read more about VAT for Foreign Companies selling through Amazon in UAE[…]

Ultimate Beneficial Owner(UBO) Declaration

Ultimate Beneficial Owner(UBO) Declaration

Ultimate Beneficial Ownership UAE recently replaced Cabinet Decision No. 34 of 2020 with Cabinet Resolution No. 58 of 2020 on the Regulation of the Procedures Related to Real Beneficiaries (“Decision”). Electronic money institutions are subject to the law on the prevention of money laundering and the financing of terrorism under which they must satisfy client Read more about Ultimate Beneficial Owner(UBO) Declaration[…]

VAT Registration Services in Dubai, UAE | Tax Registration Number (TRN

VAT Registration Services in Dubai, UAE

VAT Registration Services SAB Auditing is offering VAT registration services in Dubai, UAE to get the Tax Registration Number (TRN) for your company in UAE. It is compulsory for all the companies and individuals having annual turnover of DH 375,000 or more to register for VAT in the United Arab Emirates. The UAE government implemented Read more about VAT Registration Services in Dubai, UAE[…]

Economic Substance Regulations in UAE

Economic Substance Regulations (ESR)

Economic Substance Regulations (ESR) Economic Substance Regulations (ESR) in UAE has been recently introduced, and as a result, all UAE businesses that may be subject to these regulations should be prepared to take action and ensure compliance. This legislation (collectively, referred to as the “Economic Substance Regulations“) were issued in response to the UAE’s inclusion Read more about Economic Substance Regulations (ESR)[…]

VAT Refund for Tourists in UAE

Tourists can claim VAT Refunds in Shopping Malls and Hotels in UAE

Tourists can claim VAT Refunds in shopping malls and hotels in UAE. Visitors can reclaim their taxes on shopping from the Self-Service Kiosks which will be set up at major shopping malls and hotels across the UAE. “The Value Added Tax (VAT) Recovery Self-Service Kiosks for Tourists scheme has been expanded to be available at Read more about Tourists can claim VAT Refunds in Shopping Malls and Hotels in UAE[…]

Reverse Charge Mechanism under VAT

Reverse Charge Mechanism under VAT

Reverse Charge Mechanism under VAT What is Reverse Charge Mechanism (RCM)?  Reverse Charge Mechanism (RCM) under VAT eliminates the responsibility for the businesses outside the UAE to register for VAT in UAE. The reverse charge mechanism under VAT is mainly used for transactions from cross the border. In a typical business, the supplier supplies goods to Read more about Reverse Charge Mechanism under VAT[…]

VAT on Discounted price in UAE

How to treat VAT on Discounted price in UAE?

VAT on Discounted price in UAE  Since the implementation of VAT in UAE, businesses are confused about the treatment of VAT on Discounted price in UAE. Strategy of discount is not new for the businesses but how to calculate VAT on discounted invoice in new for them.  Discount is actually a reduction in the original price. Read more about How to treat VAT on Discounted price in UAE?[…]

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