The Federal Tax Authority (FTA) has issued a publication to shed light on certain aspects of the VAT implementation, including Federal Law No. 7 of 2017 which covers the major aspects of tax procedures and Federal Decree-Law No. 8 of 2017 which covers the various aspects of value added tax and executive regulations. Furthermore, Khalid Al Bustani, Director General of Federal Tax Authority stated that the public clarifications service offered through the authority’s official website
The Federal Tax Authority (FTA) has published the updated version of the “Guide on VAT Refunds for Business Visitors.” According to the guide, there are specific procedures to be followed by foreign visitors applying for VAT including the timeline for submission of applications and the minimum amount that visitors are allowed to claim. The guide also stipulated the four major eligibility criteria that a foreign business must satisfy to be able to claim VAT refunds.
A good tax consultant will not only help you to avoid paying heavy taxes that arise from wrong filing but can also develop a suitable strategy that can save millions over the life of your business. In this post, we shall be looking at the qualities of a good tax consultant and things to keep in mind when hiring one for your business. Experience The VAT was introduced in the United Arab Emirates in 2018
Taxation is still fairly new in the United Arab Emirate and if you will tell yourself the truth, you have no clue as to what tax is all about and how to do the filing. The truth is, filing taxes is a complicated process. So if you are like most smart business owners, you have already hired a tax consultant to handle all aspects of filing your taxes. But if you are still looking for signs
Every country has their own taxes. It is a mandatory financial charge imposed upon a taxpayer individual or any legal entity by the government in order to fund the government. Recently UAE introduced the Value Added Tax (VAT) on the 1st of January 2018. According to the law, a 5 per cent tax is levied upon the majority of transactions in goods and services with a few exemptions. With the introduction of the new law,