Valuable Insights That Empower Your Decision-making

All you need to know about VAT Penalty in UAE. The UAE cabinet has approved the list of administrative penalties that will be imposed on businesses for violations of the tax laws. It is important for every taxpayer to know what are the different circumstances that lead to the imposition of these

With Respect to VAT Public Clarification ,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 labour accommodation shall be

The Federal Tax Authority (FTA) released a public clarification on UAE VAT, 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 by a taxable person on another person.

There has been uncertainty regarding the VAT treatment of options supplied in return for premiums specifically, whether they are exempt or taxable for VAT purposes.The latest public clarification issued by the Federal Tax Authority (FTA) vide clarification No: VATP014 discusses the VAT treatment of financial options and options premiums. Option

VAT incurred on any costs which are used for a genuine business purpose e.g. food and drink provided during a business meeting shall be recoverable. If such food and drink is the purpose for attending an event, such costs will be considered to be entertainment costs, and the VAT incurred

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”), VAT on healthcare services may be zero-rated if certain conditions are met. Healthcare servicesAny Service supplied that is generally accepted