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The Profit Margin Scheme is an important scheme for calculation of VAT in UAE. This scheme is applicable to certain specified goods and there are certain conditions to be fulfilled to be able to supply goods under the Profit Margin…
The Federal Tax Authority (FTA) in the UAE released a recent guide providing the procedures and scope for certain exceptions from VAT procedures. A VAT Administrative Exception is a mechanism which provides registrants with concessions / exceptions allowed by the…
The Federal Tax Authority classified labour accommodation into two categories for tax payment purposes .There will be instances where the supply of certain labour accommodation shall be a supply of residential property, and other instances where the supply of certain…
The FTA through Public Clarification VATP001 has laid down the principles that the businesses can use to determine if the VAT should be due on compensation payments. In order for an obligation to charge VAT to arise, there must be…
The Federal Tax Authority (FTA) released a public clarification, VATP013, that sets certain principles to analyze certain expenses which amount to Reimbursement or Disbursement. The said public clarification discusses the applicability of VAT on reimbursement and disbursement of expenses charged…
Employees who perform services for their employer are not considered to be making a taxable supply. However, taxable persons who provide independent director’s services to other legal entities would be considered to be making a taxable supply of services. The…
A Voluntary Disclosure is a form (VAT Form 211) provided by the Federal Tax Authority (FTA) which enables the taxpayers to voluntarily notify the FTA about the error or omission in a previous Tax Return, Tax Assessment or Tax Refund…
Article 53 of Cabinet Decision No. (52) of 2017 on the Executive Regulation of the Federal Decree-Law No. (8) of 2017 on Value Added Tax (“VAT Executive Regulations”) stipulates input tax which is non recoverable by businesses. This Public…
In accordance with Article 41 of Cabinet Decision No. 52 of 2017 on the Executive Regulations of the Federal Decree-Law No 8 of 2017 on Value Added Tax (“Executive Regulations”), healthcare services may be zero-rated if certain conditions are met. …
The United Arab Emirates (UAE) has applied taxes for the first time with Excise Tax being introduced from 1st October 2017 and Value Added Tax (VAT) was introduced in UAE on 1st January 2018. The Federal Tax Authority (FTA) is chargeable for all…
