Corporate Law : The article explains that 0% corporate tax in UAE Free Zones is not automatic and requires meeting specific conditions. The key ta...
Finance : A summary of the UAE Corporate Tax Law's definitions for related parties under Article 35 and the arm's length principle in Articl...
Goods and Services Tax : Explore the diverse taxation system of the UAE, including VAT, customs duties, excise taxes, and more. Learn about thresholds, com...
Corporate Law : Navigate corporate tax registration in Dubai with ease! Learn essential steps, required documents, and deadlines to ensure complia...
Corporate Law : Embark on a comprehensive journey into UAE Corporate Tax with our series. Understand essentials, effective dates, entities, intern...
Corporate Law : After more than 50 years of inception UAE has decided to implement Corporate Tax in the UAE with effect from 1 June 2023 and as a ...
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 known as VAT was made.
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.
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.
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 […]
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 and a completely tax-free business environment.
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.
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.
CA Pritam Mahure has come up with a Book on Value Added Tax (VAT) in UAE which will come into effect from 1st January 2018 with a standard Rate of 5%. The book is a compilation of GST related key legal provisions, reports and articles. Link to Download is provided at the end of the […]
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
