UAE VAT

UAE VAT- Important Definitions and their meaning

Goods and Services Tax - In the context of UAE VAT law Goods means physical property that can be supplied including real estate, water, and all forms of energy as specified in the Executive Regulation of this Decree-Law. ...

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How Businesses operates in UAE

Goods and Services Tax - Your type of business will determine the kind of license you require. Whether it’s commercial, professional or industrial licenses, these will define the basis of your operations. However, while selecting, remember that certain activities such as food trading, jewellery trade, veterinary activities and legal consultancy require furt...

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UAE VAT FAQ’s – Gems And Jewellery Sector

Goods and Services Tax - Jewellery in UAE is known for its purity, variety and competitive pricing compared to various other markets. These factors have been the key drivers of demand for gold jewellery in UAE. With the advent of VAT in UAE there has been a lower side shift in market, consumers in general are yet to understand the nuances of the law and adapt to ...

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UAE – VAT (Value Added Tax)

Goods and Services Tax - Legal enactment of VAT in UAE: In line with the said Economic Agreement 2001, based on the decision of Supreme Council of GCC, held in December 2015, and keeping in mind the uniformity in imposition of VAT by the GCC States, the decision to establish a unified legal framework for the introduction of a general tax on consumption in the GCC...

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UAE VAT: Public clarification on recoverability of Entertainment expenses

Goods and Services Tax - FTA clarifies the scope of blocked credit for entertainment services. Such clarification has relieved business from certain doubts for the recovery of VAT input, yet many are still unclarified vide this clarification....

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Recent Posts in "UAE VAT"

UAE VAT- Important Definitions and their meaning

In the context of UAE VAT law Goods means physical property that can be supplied including real estate, water, and all forms of energy as specified in the Executive Regulation of this Decree-Law. ...

Read More

How Businesses operates in UAE

Your type of business will determine the kind of license you require. Whether it’s commercial, professional or industrial licenses, these will define the basis of your operations. However, while selecting, remember that certain activities such as food trading, jewellery trade, veterinary activities and legal consultancy require furt...

Read More

UAE VAT FAQ’s – Gems And Jewellery Sector

Jewellery in UAE is known for its purity, variety and competitive pricing compared to various other markets. These factors have been the key drivers of demand for gold jewellery in UAE. With the advent of VAT in UAE there has been a lower side shift in market, consumers in general are yet to understand the nuances of the law and adapt to ...

Read More

UAE – VAT (Value Added Tax)

Legal enactment of VAT in UAE: In line with the said Economic Agreement 2001, based on the decision of Supreme Council of GCC, held in December 2015, and keeping in mind the uniformity in imposition of VAT by the GCC States, the decision to establish a unified legal framework for the introduction of a general tax on consumption in the GCC...

Read More

UAE VAT: Public clarification on recoverability of Entertainment expenses

FTA clarifies the scope of blocked credit for entertainment services. Such clarification has relieved business from certain doubts for the recovery of VAT input, yet many are still unclarified vide this clarification....

Read More

Public clarification on Compensation type payments under UAE VAT Law

The public clarification sought to relieve and doubts on VAT applicability on some type of payments such as the claim for loss, fines and penalties. Specific transactions are however subject to different treatment based on the facts of the case....

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Download Background Material On UAE VAT by ICAI

UAE witnessed introduction of VAT for the first time on 1st January 2018 which is imposed on the supply of goods and services at the rate of 5%. With the view to update members with the latest changes coming in the tax regime in UAE, ICAI, marking its global presence, through its Dubai Branch/Chapter, has […]...

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Impact of UAE VAT on International Companies having operations in UAE

UAE over the past two decades has become one of the fastest growing business hub of international companies from around the world. By and large, businesses from almost all major countries of the world, had set up their business operations in UAE, due to its strategic location, ease of doing business, flexibility in processes and policies ...

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Basics of VAT in GCC Countries

We all already know that VAT has been implemented in United Arab Emirates. It has been decided to implement VAT in Gulf Cooperation Council (GCC) Countries vide an understanding between them. The GCC works as a Trade and Economic Group. The inter State trade between the GCC Countries is like trading within the States....

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VAT in UAE: List of Designated Zones in UAE with Impact on Transactions

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 […]...

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