The FTA has announced 20 Designated Zones from the 45 Free Zones in the UAE will be considered ‘outside the territory’ of the UAE for Import VAT suspension purposes. The Federal Tax Authority (FTA) has published the list of confirmed Designated Zones in Cabinet Decision No 59 of 201&, effective from 1 January 2018. A […]
According to the executive regulations on value added tax (VAT) published last week, the mandatory registration threshold is AED 375,000. This means that anyone with a turnover of AED 375,000 or more is required to register their business for VAT, the Federal Tax Authority (FTA) and Ministry of Finance (MoF) said in the recently release […]
On December 5th 2017, the Federal Tax Authority (FTA) has announced the supplies that will be subject to Value Added Tax (VAT) as of January 1 2018, revealing selected sectors that will be assigned zero-rated tax, such as education, healthcare, oil and gas, transportation and real estate. Selected supplies in sectors such as transportation, real estate, financial services will […]
We are delighted to have been voted the winner of this prestigious award by so many of the industry’s great and good, particularly given this being the inaugural ‘Best Compliance Firm’ recognition at the awards. It is a testament to the firm’s unique positioning in the regional industry and hard work that the team have […]
[av_textblock size=” font_color=” color=”] VAT series topics explained by Jay McKinnon our Indirect Tax Director (VAT, Customs & Excise Duties) Themes: Costs for companies to prepare for and implement VAT Preparation list and costs of preparing for tax return UAE Tax reporting standard versus International Standards Tax agents in the UAE Rethink Accountants To know […]
“On 27 August 2017, the Ministry of Finance of the UAE released the Federal Decree-Law No (8) of 2017 on Value Added Tax (“UAE VAT Law”). The UAE VAT Law provides the legal framework for the UAE’s introduction of VAT from 1 January 2018. The standard rate of VAT for goods and services is 5% […]
The Kingdom of Saudi Arabia is ready to implement a region-wide Value Added Tax from 1 January 2018. After issuing GCC Unified VAT agreement, the Kingdom of Saudi Arabia has published its draft VAT law along with VAT regulations. The enclosed fact sheet highlights the implications that VAT will have on businesses and provides extensive […]
UAE issues VAT Law and Launches Tax Website The UAE Ministry of Finance has issued the much awaited UAE VAT law and launched a new dedicated tax website for the Federal Tax Authority. The VAT law is based on the common principles agreed by all GCC countries in the GCC VAT framework agreement, which was […]
Re/Think provides services which will provide you with the insights and knowledge that our experts have with regard to the measures your organization will need to have in place to adequately build on your framework to become a “compliant” CSP. In particular, Compliance advisory, VAT Advisory, tax optimization, and training services in the UAE throughout […]
President of the UAE, has issued Federal Decree-Law No. 7 of 2017 on Excise Tax (“Law”), which will be imposed on select products, determined by the Council of Ministers and suggested by the Minister of Finance.
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