The Federal Tax Authority (FTA) has released a new Public Clarification on the VAT registration of ‘Sole Establishments’. As defined by the FTA, the term ‘sole establishment’ refers to a legal form of business which is 100% owned by a natural person. Considering that a sole establishment does not have a legal personality that is […]
The Federal Tax Authority (FTA) has released new Public Clarifications on the VAT treatment of promotions where the seller absorbs VAT on promotional goods. The FTA asserted that any promotional campaign stating that the supply of promotional goods is “VAT-free” is misleading as the seller is obliged to impose VAT on these supplies, except where […]
The second Business Bulletin for the region’s taxpayers has been released by the FTA this week. Each publication of these Bulletins is expected to explain the tax treatment in a specific sector, with practical scenarios and examples. As the Bulletins are issued as an infographic and written in a summarized format, thus reaching a larger […]
The Federal Tax Authority (FTA) has released the latest version of the Guide on Refund for UAE Nationals Building New Residences. How does the New Residences Refund Request work? The UAE VAT Law allows UAE Nationals to request a special refund from the FTA for the VAT incurred on certain expenses related to the construction […]
In the light of COVID 19 circumstances, businesses have embraced the opportunity of supplying through online websites and applications. With this sudden increase, it is pivotal for the businesses to understand the impact of UAE VAT on their business activities. In addressing the general questions one would have, the FTA released a detailed guide explaining […]
Following Cabinet Decision No. 46 of 2020 to replace the words “or” by “and” in Article 31(2) of Executive Regulations to the VAT Law (“Regulations”), the UAE Federal Tax Authority (“FTA”) published a VAT Public Clarification on the zero-rating of export of services (“Public Clarification”). According to the Regulations, the export of services would be […]
The Kingdom of Saudi Arabia (KSA) has increased the Value Added Tax (VAT) from 5% to 15% effective from 1st July this year. Less than three years from the date of implementation of VAT in the KSA, while some are still getting used to the introduction of VAT, the rate hike has come as a […]
The Ministry of Finance (MOF), UAE amended the Country by Country Reporting (CbCR) with the following effect. Filing is restricted to MNE groups headquartered in the UAE No secondary or surrogate filing by the Constituent Entities is permitted, other than by Ultimate Parent Entities. Amendments apply for all reporting years starting January 1, 2019. What […]
The UAE Federal Tax Authority (FTA) has recently announced the issuance of the Clearance Certificate as an additional service on its portal. As of now, the FTA has not released its guidance on the newly released services. Generally, the Clearance Certificate is an official confirmation provided by the Tax Authority that a tax registrant’s standing […]
Due to the current COVID-19 pandemic, the Federal Tax Authority (FTA) has announced that it allows postponing of VAT returns for the period ending 31st of March 2020, to the deadline of the 28th of May 2020. Excise Tax returns for the tax period ending 31st March and 30th April 2020, has been postponed for […]
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