"Tax & Commercial Professional with 15 years of experience in Direct & Indirect Taxation, VAT, formulating Tax Planning Strategies, maximizing Tax Savings opportunities, driving Transfer Pricing Compliance, Business Restructuring, Mitigation of PE risk and setting up New Projects."
UAE Cabinet Decision No 59 of 2017 approves the List of Designated Zone (DZ) for UAE VAT Law. Summarizing the Key impact of VAT on transactions related with DZ. All Free Zones are not being treated as DZ resulting that companies in the Free Zones except those declared as DZ are to be treated as […]
Update on Transactions between UAE & KSA as both the countries have implemented VAT from 01.01.2018.
KSA & UAE both have specific conditions of treating each other as implementing state, in view of the specific requirements it’s most likely that all supplies between both the countries to be treated as Export/ Import. Export to be subject to VAT @0% and import to be dealt according as per the applicable law
VAT in UAE – A person who is not registered for Tax in the UAE or who doesn’t hold a Custom Code in his name, imports concern goods in the UAE, has to pay VAT (physically) before the release of goods from customs.
VAT is effective from 1st January 2018 in the UAE though transactions will be in pipeline for the businesses as payment received or supplies done before effective date. Some of the key transitional rules and detailed Article 70 of the Executive Regulations of the UAE VAT Law.
A Comparison of Draft and Final Executive Regulations issued by the Federal Tax Authority of the UAE. Changes and Additions are marked in red and blue colour in a easy to understand way.
The UAE is implementing VAT wef 01.01.2018 almost on all businesses and activities. VAT is payable by all consumers/ businesses on their purchases/ consumption. A relief for Business Visitors in the UAE – Business Visitors can reclaim the VAT paid in the UAE
Earlier UAE Government decided for no relief for visitors from VAT. Now its going to be big relief for UAE businesses and tourists as tourists can claim the VAT paid on their shopping in the UAE
The UAE is implementing VAT effective 1st January 2018 on all goods and services with only 4 exceptions as exempt supplies. Education is also going to attract VAT but at Zero Rate.
Much awaited Executive Regulations approved by the UAE Cabinet. These are in Draft mode and once signed by the HH President of the UAE will take final shape. These rules and regulations will help in smooth implementation and compliance of the UAE VAT Law. Draft executive regulations can be downloaded from the article. #VATinUAE #TaxinUAE […]
