VAT Refund Scheme For Expo 2020 Participants has been introduced by FTA. Participants in Expo 2020 can claim VAT refund incurred on expenses. The Federal Tax Authority (“FTA”) has issued Cabinet Decision no. 1 of 2020 (“Cabinet Decision”) on the Refund of VAT on Goods and Services for countries and organizations participating in Expo 2020 Read more about VAT Refund Scheme For Expo 2020 Participants[…]
VAT Reconsideration Form in UAE VAT reconsideration form has been introduced by the Federal Tax Authority (FTA) in order to review the tax penalty appeals made by the taxable businesses or individuals. Businesses in UAE must follow the rules and regulations of FTA in order to avoid VAT and excise tax fines and penalties. Any Read more about How to submit VAT reconsideration form in UAE?[…]
FTA has made an amendment in VAT fines and penalties. SAB will assist you to get VAT fines Reduction and discounts by ensuring VAT compliance. Cabinet Decision No. 49 of 2021 amended some of the administrative penalties applicable to certain violations and allows for a redetermination of some of the penalties already imposed. Businesses in Read more about VAT Fines Reduction and Discount[…]
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[…]
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[…]
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 (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)[…]
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 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 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?[…]
