Latest News & Trends

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Reverse Charge Mechanism under VAT

Reverse Charge Mechanism under VAT

Reverse Charge Mechanism under VAT  What is Reverse Charge Mechanism (RCM)? In a typical business, the supplier supplies goods to the customers and collect VAT from the customers, which is later paid to the Federal Tax Authority (FTA). Under reverse charge mechanism (RCM), the supplier does not charge VAT to the customer, the buyer or 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?[…]

VAT Deregistration in UAE

VAT Deregistration in UAE VAT Deregistration in UAE is an online process. Businesses and individuals who are registered under Federal Tax Authority (FTA) can de-register from VAT in two situations: If their turnover did not exceed AED 187,500 in the 12 months after registering with the FTA, they must apply for the VAT Deregistration. If Read more about VAT Deregistration in UAE[…]

VAT Voluntary Disclosure UAE

VAT Voluntary Disclosure  A voluntary disclosure is a form provided by Federal Tax Authority (FTA) to allow businesses and taxpayers to notify FTA about the errors/mistakes and omission/changes in a Tax return or Tax Refund. A VAT Voluntary disclosure form 211 in UAE helps a taxable person to make correction in the errors they have Read more about VAT Voluntary Disclosure UAE[…]

VAT for Construction Companies

Tax Errors and Fines for Construction Sector VAT for construction companies is a complicated subject. Construction sector will be included in the VAT regulations and will attract the Standard rate of 5% VAT. Companies in the construction sector needs to plan in advance due to the long term of their projects. There are complications in Read more about VAT for Construction Companies[…]

Tax Audit by Federal Tax Authority (FTA) starts in 2019

Tax Audit in UAE Businesses in UAE must prepare themselves for official and mandatory audits in 2019 as it has been one year since the VAT has been implemented in UAE. All the laws and regulations for all kind of businesses are clear and properly in place. Tax Audit in UAE starts in 2019.  All the Read more about Tax Audit by Federal Tax Authority (FTA) starts in 2019[…]

audit services in dubai

Approved Audit Firms in Dubai

Audit Firms in Dubai SAB is one of the leading approved audit firms in Dubai. Businesses in UAE can get a lot of benefits from an audit report prepared from the best audit firms in Dubai with regulated auditors who are able of handling this matter for your business/company. It is also mandatory by government of UAE for a Read more about Approved Audit Firms in Dubai[…]

VAT Refund for Tourists in UAE

VAT Refund for Tourists Federal Tax Authority (FTA) has announced that VAT refund scheme will be implemented in UAE for the tourists from the fourth quarter of 2018. Federal Tax Authority has appointed ‘Planet’ as its exclusive tax refund operator for the Tourist Refund Scheme which will be rolled out in November 2018. VAT Refund Read more about VAT Refund for Tourists in UAE[…]

Accounting and Bookkeeping Services

Accounting and Bookkeeping Services in Dubai Accounting and bookkeeping services in Dubai are required by all the companies regardless of the size of the company as the government of UAE makes it mandatory to maintain a systematic and comprehensive recording of all the financial transactions of the company.  Accounting and bookkeeping helps in preparing a well analyzed Read more about Accounting and Bookkeeping Services[…]

Registered FTA Tax Agent

Why should you choose to have a Tax Agent?

Tax Agent Services in Dubai 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 Read more about Why should you choose to have a Tax Agent?[…]

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